Blumont clinches 12.75% stake in mineral exploration firm Genesis Resources
Its takeover bid is inching along.
Blumont has clinched a 12.75% stake in mineral exploration firm Genesis Resources, in its bid to takeover all of the firms’ issued shares.
GES has issued 15 million ordinary shares, which Blumont had subscribed to. This represents 7.29% in GES’ issued share capital.
Blumont has also received acceptances pursuant to the takeover bid amounting to 11,212,125 GES Shares representing approximately 5.88% of the total number of outstanding
GES Shares.