Tawana Resources NL (ASX:TAW) has confirmed that Alliance Mineral Assets Ltd has received conditional approval from the ASX for the admission of Alliance to the official ASX list and for the official quotation of Alliance’s shares.
This satisfies the ASX listing condition precedent to the proposed scheme of arrangement between Tawana and its shareholders under which Alliance will acquire 100% of the issued capital of Tawana.
The two companies are co-owners at the Bald Hill lithium-tantalum mine in the Eastern Goldfields of Western Australia.
The scheme remains subject to the approval of the Federal Court of Australia and certain other conditions as specified in the scheme of arrangement.
The court will consider the scheme for approval on Monday, December 3, 2018 with implementation scheduled to occur on Friday, December 14, 2018.