Gold mining giant Newcrest Mining Ltd (ASX: NCM) announced on Friday that Lihir Gold Ltd's investors would find their share consideration being scaled back as an overwhelming demand of shares ensued following the blockbuster $10.5 billion deal that saw the merger of the two companies.

As stipulated in the takeover agreement, Lihir shareholders were entitled to one Newcrest share for each 8.43 of Lihir shares, with additional cash of 22.5 cents for every Lihir share.

However, many Lihir investors were able to access a share consideration in the new company under the mix and match provisions of the deal, which is now being scaled back by Newcrest, with assurance that the modified allocation was in line with the agreed scheme of arrangement and would also serve as safeguards against the issuance of too many shares by the dominant company.

The newly-merged company said that Lihir shareholders who opted for the maximum share consideration are poised to get one Newcrest share for every 8.17217 of their shares, with an added 8.33 cents per share, while those who sought the maximum cash consideration would get the full amount of $4.7161 cash for every Lihir share being held.

Newcrest said that for those investors who jumped into the mix and match offerings, their new Newcrest share would get the value of $37.86, which is only exclusive for that particular selection, as the company added that investors who chose cash could expect cheque deliveries not later that September 21.

As of 1316 AEST on Friday, Newcrest shares were trading at $39.00, giving up 77 cents or 1.9 percent of value from previous trading sessions.