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LONDON - Nioko Resources Corporation has successfully completed the compulsory acquisition process of Hummingbird Resources plc shares, as per the terms previously detailed in their offer document. On Monday, Nioko dispatched the formal notices required by law, and as of the expiry date on April 30, 2025, all remaining Hummingbird shares were acquired.
This acquisition follows the agreement reached on December 16, 2024, between the boards of Nioko and Hummingbird, where Nioko made an all-cash offer for the entire issued and to be issued share capital of Hummingbird. The offer was declared unconditional from the beginning on January 2, 2025, and the subsequent offer document was released and made available on Hummingbird’s website.
Hummingbird’s admission to trading on AIM was canceled on March 3, 2025, and the offer closed for acceptance on April 17, 2025. Nioko initiated the compulsory acquisition procedure under the Companies Act on March 11, 2025, to acquire the remaining shares.
With the compulsory acquisition now complete, Nioko is set to become the sole beneficial owner of Hummingbird shares, and the UK Takeover Code will cease to apply to Hummingbird. The consideration owed to the remaining shareholders is held in trust by Hummingbird and will be paid after written application and proof of entitlement are presented to Link Group/MUFG.
Shareholders who have not accepted the offer are advised to contact Link Group/MUFG to arrange for the receipt of their consideration, which will be issued by cheque upon verification of their entitlement. A helpline operated by Link Group is available for shareholders requiring assistance with the process.
This transaction marks the conclusion of the offer and acquisition process, with Nioko consolidating its ownership of Hummingbird Resources. The information regarding this acquisition is based on a press release statement.
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