Leonoil Proceeds with Sierra Rutile Takeover

Sierra Rutile Holdings Limited (AU:SRX) has released an update.

Leonoil Company Limited has initiated compulsory acquisition of Sierra Rutile Holdings after securing over 90% interest and advises remaining shareholders to accept the off-market takeover bid of A$0.18 per share promptly. Sierra Rutile’s shares will be suspended from trading on the ASX five days post-notice, with removal from the official list following shortly. Shareholders who don’t accept the offer will receive payment at the end of the compulsory acquisition process but will face a delay.

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