Silver Lake Resources (ASX:SLR) undertakes compulsory acquisition

Company News

by Katrina Bullock

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.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.