10
Jul
01:00
Baosteel sets up compulsory purchase of Aquila Resources
The Australia-based consortium of Baosteel Resources and Aurizon Holdings has confirmed that it now owns over 90% of ordinary shares in Pilbara-headquartered Aquila Resources. In a formal statement to the Australian Securities Exchange (ASX) on 9 July seen by Kallanish the consortium confirmed that as it now intended to exercise its rights under the Australia Corporation Act to compulsorily acquire the remaining Aquila Shares and Aquila Convertible Securities.
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