AS flagged in WA Business News last month, Australian Heritage Group is closing in on resources venture capitalist Mineral Securities Limited.
Currently AHG has received acceptances for the off-market MSL takeover offer that takes its voting power to 72.5 per cent.
The takeover offer is subject to AHG having relevant interests in more than 90 per cent of MSL’s shares on issue, AHG shareholders passing a resolution authorising a return of surplus capital to existing AHG shareholders and MMC Asset Management Limited shareholders approving the sale of AHG’s investment in MMC.
AHG shareholders will consider the resolution authorising the surplus capital return at the AHG annual general meeting on December 8.
MMC shareholders will consider the resolution AHG to sell its MMC stake on November 28.
MSL, meanwhile, has been involved in some share play of its own, taking up an extra 4.6 million shares in New South Wales-based diamond explorer County Diamonds.
That placement was due to a deal between the two companies relating to the Gold Mount project in China.
