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NTM Gold (ASX:NTM) - Managing Director, Andrew Muir (right) - The Market Herald
Managing Director, Andrew Muir (right)
Source: The West Australian
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  • The merger between two Western Australian gold companies is almost complete after the WA Supreme Court signed off on the move
  • Under the merger, Dacian Gold (DCN) will buy up 100 per cent of NTM Gold's (NTM) issued capital, while NTM shareholders will receive one new DCN share for every 2.7 shares held
  • Following the Supreme Court's approval, NTM and Dacian will now head to ASIC, where the merger will be lodged on Monday, March 8
  • Once that occurs, it's expected NTM's stock will be suspend from trading on the ASX at the end of Monday's trading session
  • The gold company's shares will then be removed from the stock exchange on March 15, while all of the new Dacian shares will begin trading on March 17
  • At the close of market on Friday, NTM Gold shares were up 4 per cent at 13 cents, while Dacian Gold shares are up 2.86 per cent at 36 cents

The merger between two Western Australian gold companies is almost complete after the WA Supreme Court signed off on the move.

Dacian Gold (DCN) and NTM Gold (NTM) announced the merger back in November last year, with DCN to buy all of NTM's issued shares.

The takeover is now one step closer to being finished. Following the Supreme Court's approval, Dacian and NTM Gold can head to ASIC.

NTM will lodge the court orders with the securities regulator on Monday, March 8.

Once that occurs, the merger will become legally effective, and it's expected NTM's stock will be suspend from trading on the ASX.

The gold company's shares will then be removed from the stock exchange on Monday, March 15.

Under the terms of the merger, NTM shareholders will receive one new Dacian share for every 2.7 NTM shares they hold.

All of the new DCN shares will be issued on Monday, March 15, and enter trading on Wednesday, March 17.

Following the positive merger update, shares in both West Australian gold companies ended Friday's trading session in the green.

NTM Gold shares were up 4 per cent at 13 cents per share, while Dacian Gold shares were up 2.86 per cent at 36 cents per share.

NTM by the numbers
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