Tietto Minerals Ltd. (AU:TIE) has released an update.
Tietto Minerals Ltd. has been effectively taken over by Zhaojin Capital, with the latter proceeding with a compulsory acquisition of the remaining Tietto shares at $0.68 each, following its successful offer which resulted in Zhaojin owning 90.72% of Tietto. Trading of Tietto shares will be suspended from 31 May 2024, as the acquisition process unfolds, which could take about five weeks. In the midst of this change, the company has also withdrawn several resolutions from its Annual General Meeting, including those concerning director elections and executive compensation, reflecting the new ownership structure.
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