Ramelius Resources makes takeover offer for Breaker Resources NL

Ramelius Resources Ltd (ASX: RMS) signed a Bid Implementation Agreement with Breaker Resources NL to acquire all of Breaker's issued ordinary shares in an all-scrip off-market takeover bid. Breaker Shareholders will receive one Ramelius share for every 2.82 Breaker shares held under the terms of the offer. Breaker shareholders to receive an implied offer price of AU$0.40 per share, represents a 41.0% premium to Breaker’s 3-day VWAP of AU$0.284 per share, 41.7% premium to 10-day VWAP, 41.5% to 30-day VWAP and 30.5% to 90-day VWAP.

Breaker’s Directors unanimously recommended Breaker shareholders accept the offer, in the absence of a superior offer. Furthermore, all Breaker Directors have made (Statements of Intent to accept the offer for all the shares they own or control (representing approx. 4% of Breaker’s issued shares), in the absence of a superior offer.

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