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After announcing that its proposed takeover of Dacian Gold is ‘unconditional’, Genesis Minerals has now declared its offer as ‘best and final’.

Genesis currently holds a relevant interest in 93.41 per cent of Dacian shares and voting power.

Last week, Genesis surpassed 90 per cent ownership of Dacian shares, meaning the company was entitled to compulsorily acquire the remaining Dacian shares for a cash sum to be determined at a later date.

If a 95.1 per cent relevant interest threshold for the offer is met, the implied value of the ‘best and final’ improved offer equals $0.292 per Dacian share. This is based on Genesis’ last closing price of $1.51 on October 19.

If the improved offer consideration threshold isn’t met, the implied value of the ‘best and final’ base offer is $0.254 per Dacian share, which is also based on Genesis’ last closing price of $1.51 on October 19.

“If Genesis does not become entitled to proceed to post-bid compulsory acquisition (under which it is obliged to offer the same terms as under the offer), Genesis will proceed to acquire 100 per cent of Dacian under the general compulsory acquisition procedure in the Corporations Act,” the company said.

Genesis’ offer is expected to close at 4pm WA time on November 17.