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EganStreet Resources approaches compulsory acquisition by Silver Lake

On November 7 the company had the takeover offer from Silver Lake Resources declared unconditional.

Egan Street Resources Ltd - EganStreet Resources approaches compulsory acquisition by Silver Lake Resources Limited

EganStreet Resources Limited (ASX:EGA) has advised that as of November 21 Silver Lake Resources Limited (ASX:SLR) has acquired 84.11% of the company and now controls it.

Silver Lake has said that it intends to acquire the outstanding EganStreet shares if it acquires 90% or more of EganStreet shares.

As of today, in accordance with the bid implementation on July 30, non-executive chairman Barry Sullivan, executive director Lindsay Franker, founder and non-executive director Simon Eley and non-executive director Hedley Widdup have tendered their resignations.

Following the conclusion of EganStreet’s annual general meeting, Silver Lake non-executive chairman David Quinlivan and Silver Lake managing director Luke Tonkin have been appointed to the board of EganStreet with Marc Ducler remaining a director of EganStreet.

The new board extends their thanks to all departing directors and employees for their contribution to EganStreet and wishes them the best.

Quick facts: Egan Street Resources Ltd

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Market: ASX
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