Inca Minerals Limited (ASX: ICG) has announced it will proceed with the compulsory acquisition of all outstanding shares in Stunalara Metals Limited (ACN 620 597 506), following the closure of its takeover offer on April 4, 2025. Acceptances were received for 94.13% of Stunalara shares by the closing date, exceeding the thresholds required under the Corporations Act 2001 (Cth) for compulsory acquisition.
A notice of compulsory acquisition has been lodged with the Australian Securities & Investments Commission (ASIC) and will be dispatched to remaining Stunalara shareholders who did not accept the offer. The acquisition will occur on the same terms as the original offer, as detailed in Inca’s bidder’s statement dated February 25, 2025, and supplemented on March 6, 2025. Stunalara shareholders will be able to claim their payment six to eight weeks after the letter date.
Inca acquired a relevant interest in more than 90% of Stunalara shares and at least 75% of the Stunalara shares that were offered. The notice outlines shareholders’ rights, including the ability to request a statement of names and addresses of all recipients of the compulsory acquisition notice within one month, and the right to apply to the Court for an order preventing the compulsory acquisition, also within one month. Shareholders with questions are advised to contact Automic, Inca’s contact for the offer. The board of Inca Minerals Limited approved this ASX announcement.
