Jan 20 (Reuters) - Azumah Resources Ltd AZM.AX :
* REFERS TO OFF-MARKET TAKEOVER BID BY IGIC PTE LTD, AN AFFILIATE OF IBAERA CAPITAL FUND
* IBAERA HAS RELEVANT INTEREST IN 89.29% OF AZUMAH SHARES
* IBAERA INTENDS TO PROCEED TO COMPULSORY ACQUISITION OF OUTSTANDING AZUMAH SHARES IF IT ACQUIRES 90% OR MORE OF AZUMAH SHARES