Ramelius Resources (ASX:RMS) said the Australian Securities and Investments Commission has granted the company relief from the requirement to make offers under the Spartan Resources (ASX:SPR) takeover offer within two months of the transaction disclosure, according to a Tuesday filing with the Australian bourse.
The company has an additional 31 days to make the offers, the filing said.
The company is planning to acquire all of the issued shares of Spartan Resources that it does not already own through a scheme of arrangement for AU$0.25 in cash and 0.6957 new Ramelius shares for each Spartan share.
If the scheme fails or is terminated, a conditional off-market takeover offer for the same consideration will be made, per the filing.
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