Phoenix Gold (ASX:PXG) has advised that Evolution Mining (ASX:EVN) is now its largest shareholder with a stake of about 19.8% after acquiring 49 million PXG shares at $0.12 each.
Phoenix has confirmed that dialogue with a number of parties is continuing to consider value maximising proposals for the company's shareholders.
Evolution acquired the shares on Friday, 24th July at a premium to Zijin Mining Group Co., Ltd’s unsolicited, conditional off-market takeover offer priced at $0.10 per PXG share.
Zijin is yet to release the Bidder’s Statement in relation to its offer.
The Bidder’s Statement is required to be lodged with Phoenix, the Australian Securities and Investments Commission (“ASIC”) and the Australian Securities Exchange, no later than 10th August 2015.
Phoenix’s directors continue to recommend that shareholders take no action in relation to the Zijin offer.
