Emmerson Resources (ASX:ERM) said shareholder Patronus Resources (ASX:PTN) has conditionally agreed to vote in favor of Pan African Resources' proposed acquisition of Emmerson, according to a Wednesday filing with the Australian bourse.

Patronus, which holds about 7.4% of Emmerson's issued share capital, will vote for the deal if the share exchange ratio is at least 0.1493 Pan African shares for each Emmerson share. The positive vote is also subject to no superior proposal emerging and independent experts finding the deal to be in the best interests of Emmerson shareholders, per the filing.

Emmerson Resources shares were down 3% on market close, while Patronus Resources fell nearly 2%.