Exciting Developments in West African Gold Mining: Hummingbird Resources Poised for Takeover
In a significant move that underscores the dynamic nature of the gold mining industry in West Africa, Hummingbird Resources PLC has announced a takeover led by Nioko Resources Corporation. This Burkina Faso-based investment firm, a subsidiary of CIG SA, has made waves in the mining sector and is taking decisive steps to solidify its position in the market.
As of March 10, 2025, Nioko has successfully secured valid acceptances for 1,656,818,333 shares of Hummingbird, amounting to an impressive 97.3% of the company’s current issued share capital. This monumental development not only highlights the confidence investors have in Nioko’s vision and strategy but also signifies a positive chapter for Hummingbird Resources, which is set to benefit from the resources and expertise of its new parent company.
With this overwhelming support, Nioko is gearing up to take the next steps in the acquisition process. As stipulated under the UK Takeover Code, Nioko intends to invoke its right to compulsorily acquire the remaining shares of Hummingbird, having already achieved 90% ownership of both value and voting rights. This procedural move will be formalized through the issuance of Compulsory Acquisition Notices under the UK Companies Act 2006.
Industry experts anticipate that the compulsory acquisition will be completed within approximately six weeks following the issuance of these notices. This transition marks a pivotal moment for Hummingbird, who will operate as a wholly-owned subsidiary of Nioko, paving the way for new growth initiatives and bolstered operational strategies in the gold sector.
Nioko’s strategic acquisition is poised to redefine Hummingbird’s future, enhancing its prospects in an industry that has seen resurgence and evolving opportunities. Investors and stakeholders alike are keenly observing how this merger will influence the landscape of gold mining in West Africa, a region rich in mineral resources and potential.
As the mining sector continues to adapt and innovate, the collaboration between Nioko and Hummingbird sets a progressive example of investment and growth in Africa.
Stay tuned for further updates as this story unfolds, showcasing the ongoing evolution of gold mining across the continent. For more insights on business developments in Africa and beyond, visit Africazine.
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