9th Jul 2014 15:58
LONDON (Alliance News) - Mentum Inc said Wednesday that it had received written confirmation from Stanhill Capital Partners Holdings Ltd supporting its acquisition of Robust Resources Ltd's Kyrgyz mining assets.
Mentum agreed to acquire the operations in June in a proposed reverse takeover. This acquisition is subject to shareholder approval at its annual general meeting next Monday.
Stanhill announced July 1 that it intends to make an offer for Robust, and said that should it be successful, Robust will abide by its contractual obligations to Mentum.
It added that Stanhill has also confirmed that it supports Mentum's future plans, management team and arrangements regarding the acquisition of the assets.
Shares in Mentum closed down 0.9% at 0.332 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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