Red 5 Limited (AU:RED) has released an update.
Shareholders of Silver Lake Resources Limited have given the green light to the proposed merger with Red 5 Limited, marking a significant move towards the ‘merger of equals’. The approval was achieved through a shareholder meeting following a Court order, setting the stage for a series of events that will culminate in the delisting of Silver Lake from the ASX. Shareholders of Silver Lake will be entitled to receive 3.434 Red 5 shares for each Silver Lake share after the merger’s expected completion on June 19, 2024.
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