Fenix Resources (ASX:FEX) executed option cancellation deeds and performance right cancellation deeds with substantially all option holders and performance right holders of CZR Resources (ASX:CZR), according to an Australian bourse filing on Monday.
The deeds give effect to the cancellation of the existing CZR options and performance rights for the issuance of new Fenix options and performance rights, respectively, for materially the same terms.
Earlier, Fenix made a conditional off-market takeover bid to acquire all the ordinary shares of CZR at 0.85 Fenix shares per one CZR share.
The deeds are subject to certain conditions, including the takeover bid becoming or being declared unconditional.
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