Poseidon Nickel Limited (ASX:POS) Completes Merger with Horizon Minerals
Merger Implementation
Poseidon Nickel Limited (ASX:POS) and Horizon Minerals Limited (ASX:HRZ) have implemented the approved merger schemes, resulting in Horizon acquiring 100% of Poseidon’s shares and options.
Scheme Consideration
Eligible Poseidon securityholders received 0.1156 new HRZ shares for every POS share and 0.1156 new HRZ options for every POS option held on 12 February 2025.
Delisting from ASX
Trading in Poseidon securities was suspended on 10 February 2025, with delisting expected to occur on 19 February 2025.
Directors and Management
Horizon will continue to be led by Managing Director and CEO Grant Haywood. Several directors from Poseidon have resigned, while key executives have been appointed to the combined group.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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