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LONDON - IDM International Limited shareholders have voted in favor of a proposed merger with Blackstone (NYSE:BX) Minerals Ltd (ASX:BSX), according to an announcement from Bezant Resources Plc (AIM:BZT) on Tuesday.
The merger, which was first announced on February 6, will proceed via a scheme of arrangement with key implementation dates now set. The Second Court Hearing is scheduled for June 17, with the Effective Date of the scheme on June 18, and final implementation expected on June 27.
Under the terms of the merger, IDM shareholders will receive 7.4 Blackstone shares for each IDM share they hold. Bezant Resources, which holds an interest in the Mankayan Copper Gold project in the Philippines through IDM, stands to receive 139,365,659 Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06, expiring on February 5, 2029.
The Blackstone share price closed at AUD 9.4 cents (approximately 4.5 pence) on June 10.
The scheme implementation timeline remains subject to change, with normal trading of Blackstone shares expected to commence on June 30.
This article is based on a press release statement from Bezant Resources Plc dated June 10, 2025.
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