Perth-based engineering and development company GRD Ltd will be able to sell its remaining 25 million shares shares in its gold spinoff Oceana Gold Ltd, after Oceana agreed to terminate a voluntary escrow agreement set in place in May.
Perth-based engineering and development company GRD Ltd will be able to sell its remaining 25 million shares shares in its gold spinoff Oceana Gold Ltd, after Oceana agreed to terminate a voluntary escrow agreement set in place in May.
Oceana recently agreed to merge with NSW-based Climax Mining Ltd, with Climax shareholders receiving 0.62 of an Oceana share for each Climax share, as well as 0.31 of an option to acquire Oceana shares for 0.925 cents, maturing in 30 months, for each Climax share.
At 1030 WST, Oceana shares were trading down 1c to 74c, while shares in GRD were steady at $2.40.