Pan African Resources moves closer to Emmerson acquisition as scheme booklet registered

Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY, JSE:PAN), the FTSE 250 gold producer, has moved closer to completing its £163 million acquisition of Australian gold explorer Emmerson Resources after the scheme booklet was registered with Australian regulators.

Emmerson shareholders will vote on the deal on 15 June, with completion targeted for 1 July. They will receive 0.1493 new Pan African shares for each Emmerson share held.

The acquisition does not require Pan African shareholder approval.