The scheme of arrangement required at least 66.6% of votes supporting the deal. This was greatly surpassed as the transaction received 99% approval from shareholders.
Westgold managing director and chief executive officer Wayne Bramwell said the overwhelming support shown by Karora investors confirmed “the independently verified value and the compelling commercial rationale behind this transaction.”
“With the integration of the Karora assets, the expanded Westgold will have strategic footprints across two of Western Australia’s most prolific goldfields,” Bramwell noted.
The transaction, slated to close on August 1, will see Westgold taking ownership over Karora’s Australian Beta Hunt and Higginsville gold mines. These are both high-performing assets nestled in the same region as Westgold’s iconic Bluebird and Great Fingall mines.
Westgold will also own the Lakewood gold mill near Kalgoorlie.
The combined company…
