Mako Gold Trading Suspended from 3 February Following Aurum Takeover
Aurum Resources has announced the suspension of trading and imminent delisting of Mako Gold from the ASX following its successful takeover. Mako shareholders are urged to accept the offer before the deadline to avoid delays in payment.
- Trading in Mako Gold shares to suspend from 3 February 2025
- Delisting expected three business days after suspension
- Aurum Resources completed compulsory acquisition following takeover
- Offer acceptance deadline set for 31 January 2025 at 7:00 pm Sydney time
- Shareholders who delay acceptance risk delayed receipt of bid consideration
Context of the Takeover
Aurum Resources Limited (ASX: AUE) has confirmed the suspension of trading in Mako Gold Limited (ASX: MKG) shares effective from the close of trading on Monday, 3 February 2025. This move follows Aurum's successful takeover bid, culminating in a compulsory acquisition notice issued on 24 January 2025. The announcement signals a significant shift in the ownership and trading status of Mako Gold on the ASX.
Implications for Mako Gold Shareholders
Shareholders of Mako Gold are now facing a critical deadline to accept Aurum's takeover offer, which expires at 7:00 pm Sydney time on 31 January 2025. Those who have yet to accept are strongly encouraged to do so promptly. Failure to accept before the deadline will result in compulsory acquisition of their shares by Aurum, but with a potential delay in receiving the bid consideration. This creates a clear incentive for shareholders to act swiftly to secure timely payment.
Delisting and Market Impact
The delisting of Mako Gold shares from the ASX is expected to occur three business days after the suspension date, effectively removing the company from public trading. This transition marks the end of Mako Gold as a standalone listed entity and integrates its assets and operations under Aurum Resources. For investors and market watchers, this consolidation may streamline Aurum's portfolio but also reduces market liquidity for Mako Gold shares.
Strategic Considerations
Aurum Resources’ acquisition of Mako Gold aligns with its broader strategy to expand its gold resource base. The takeover and subsequent delisting could enhance Aurum’s operational scale and resource potential, positioning it more competitively within the gold sector. However, the market will be closely monitoring how Aurum manages integration and whether it can deliver value accretion from this acquisition.
Next Steps for Stakeholders
Shareholders still holding Mako Gold shares should contact the Offer Information Line to obtain acceptance forms and clarify any uncertainties. Meanwhile, analysts and investors will be watching Aurum’s next moves, including any updates on integration plans and potential impacts on Aurum’s share price and capital structure.
Bottom Line?
As Mako Gold exits the ASX, Aurum Resources steps into a new phase of consolidation and growth in the gold sector.
Questions in the middle?
- What proportion of Mako Gold shareholders have accepted Aurum’s offer ahead of the deadline?
- How will Aurum Resources integrate Mako Gold’s assets and operations post-delisting?
- What impact will the delisting have on Aurum’s share price and capital structure in the near term?
