Kangaroo Resources shareholders vote in favour of takeover

Company News

by Anna Napoli

Kangaroo Resources (ASX:KRL) says shareholders have voted in favour of the company's takeover by majority shareholder PT Bayan Resources.

Under the scheme of arrangement PT Bayan will acquire all shares in the company that it does not already own at a price of 15 cents per share.

The scheme has already received the tick of approval from the Foreign Investment Review Board and is now subject to further approval from the Supreme Court of Western Australia.

A hearing before the court to approve the Scheme is scheduled to be held on the 3rd of December.

Shares in Kangaroo Resources (ASX:KRL) closed flat at $0.13

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.