PERTH, Australia, May 17, 2013 /CNW/ - Azimuth Resources Limited (ABN 87 089 531 082) (Azimuth) (ASX, TSX: AZH) hereby advises, further to Section 6.16 of the Target's Statement lodged on 9 May 2013, that ASX Limited ("ASX") has granted Azimuth a waiver from listing rule 6.23.2 to the extent necessary to permit Azimuth to cancel 15,822,581 unquoted options on issue for consideration without shareholder approval subject to the following conditions:
- The off market takeover bid from Troy Resources Ltd ("Troy") for all Azimuth's shares being declared unconditional.
- Troy and its associates obtain voting power of at least 50.1% in Azimuth.
Chief Executive Officer
SOURCE Azimuth Resources