Impact Minerals (ASX:IPT) said that Hipura's administrators have recommended its creditors approve the proposed acquisition of the company by IPT, according to a Friday filing with the Australian bourse.
The acquisition, subject to creditor approval at a meeting on April 9, would be executed through a deed of company arrangement (DOCA), the filing said.
While the administrators have endorsed the deal, it remains contingent on the execution of the DOCA and related share transfer agreements, the filing added.
Impact cautioned that the deal is not guaranteed and depends on the upcoming creditor vote, the company said.
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