Mako Gold (ASX:MKG) said that Aurum Resources (ASX:AUE) has gained control of Mako through its off-market takeover offer.
As of Nov. 29, Aurum holds a relevant interest in 58% of Mako’s ordinary shares, declaring the offer unconditional as of Nov. 22.
Mako Gold has advised shareholders to swiftly accept the takeover offer, which is set to close on Dec. 4, unless extended.
Any acceptances post-deadline will not be valid without Aurum's entitlement to compulsory acquisition of remaining shares.
"The Mako directors have unanimously recommended that remaining Mako shareholders and Mako option holders accept Aurum’s offers without delay, in the absence of a superior proposal," stated Peter Ledwidge, Managing Director of Mako Gold.
Shareholders who have already accepted do not need to take any further action.
Aurum Resources is a gold exploration company focused on its Boundiali Gold Project in Cote d’Ivoire, West Africa.
At the time of reporting, the share prices of Mako Gold and Aurum Resources were $0.014 and $0.38.