Silver Lake Resources (ASX:SLR) has reached the compulsory acquisition threshold of 90 per cent in its takeover bid for EganStreet Resources (ASX:EGA).
As such, it has announced its intention to proceed to compulsory acquisition and snap up any EganStreet shares that have not been accepted into its takeover offer.
In compliance with the terms of the Bid Implementation Deed, EganStreet’s Managing Director Marc Ducler has tendered his resignation as a director, effective immediately.
Kelvin Flynn has been appointed to the Board of EganStreet, effective today. Following the resignation of Brendon Morton, David Berg has been appointed as Company Secretary, effective immediately.
Shares in Silver Lake Resources (ASX:SLR) last traded at $1.13.