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LONDON - Nioko Resources Corporation has announced significant progress in its acquisition of Hummingbird Resources plc, with the offer acceptance level reaching approximately 7.32% of Hummingbird’s issued share capital as of Monday. This brings Nioko’s total interest in Hummingbird to 79.14%, including valid acceptances.
The offer, which was initially made unconditional on January 2, 2025, is part of a recommended all-cash proposal by Nioko for the entire issued and to be issued share capital of Hummingbird not already owned or agreed to be acquired by Nioko.
Hummingbird intends to apply for the cancellation of its shares from trading on AIM, following which it plans to re-register as a private limited company. This move is expected to limit the tradeability and marketability of Hummingbird shares, prompting the Independent (LON:IOG) Hummingbird Directors to advise shareholders to accept Nioko’s offer.
The offer period is set to conclude on February 3, 2025, with settlement for acceptances received prior to this date scheduled for February 17, 2025. Hummingbird shareholders who have yet to accept the offer are urged to do so promptly to ensure timely receipt of consideration.
Nioko’s acquisition of Hummingbird is a strategic move that consolidates its position in the market, with implications for shareholders and the future operations of Hummingbird. The details of this transaction are based on a press release statement issued by Nioko Resources Corporation.
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