IMIC’s Afferro bid approved

Suzie Neuwirth
AIM-LISTED Afferro Mining’s shareholders resoundingly voted in favour of a proposed takeover bid from resource-focused investment house IMIC yesterday.

A massive 97 per cent of shareholders and 100 per cent of optionholders gave the green light to the offer, which comprises a mix of cash and convertible loans equating to £1.20 per share. The deal, which is also subject to IMIC shareholder approval and regulatory approvals, is expected to complete by 31 October.