LONDON, March 06, 2025 (GLOBE NEWSWIRE) — Hummingbird Resources PLC (“Hummingbird“), a West African gold mining company, announced today that in connection with the implementation of a take-over of Hummingbird pursuant to the UK Takeover Code (the “Code“), Nioko Resources Corporation, a wholly-owned subsidiary of CIG SA, an investment company incorporated in Burkina Faso (“Nioko“) has currently received acceptances representing over 89% of the shares of Hummingbird to which the offer relates (the “Hummingbird Shares“). Upon Nioko receiving 90% of such acceptances, it will be entitled to proceed with the compulsory acquisition of the remaining Hummingbird Shares pursuant to statutory squeeze-out rights. To the extent Nioko elects to exercise these statutory squeeze-out rights, Hummingbird would become a wholly-owned subsidiary of Nioko.
CIG SA (through Nioko or other of its affiliates) had been a 42% shareholder of Hummingbird since February 2023, and CIG SA, and parties related thereto, had advanced various loans to Hummingbird and other operating companies within the Hummingbird group structure. Nioko’s acquisition …
