Adriatic Metals shareholders to vote on Dundee Precious Metals’ takeover bid in August
Make us a preferred source
Make us a preferred source on Google
The news: London and Australian stock exchange listed Adriatic Metals announced plans to hold a shareholder vote on Toronto-listed Dundee Precious Metals’ proposed USD1.25 billion ($1.9 billion) takeover on 13 August and has released the associated scheme document.
The numbers: Under the proposed deal, Adriatic shareholders will be entitled to receive 0.159 new Dundee shares and 93 pence ($1.91) per Adriatic share they own.
The value of the Adriatic’s entire issued share capital is estimated to be about USD1.251 billion as at 11 June.
The context: Adriatic announced on 13 June it had reached an agreement with Dundee Precious Metals to be fully acquired, with the deal to be completed through a UK scheme of arrangement.
Adriatic's directors, who have been advised by RBC Capital, recommend that shareholders vote in favour of the scheme.
A court meeting will also be held on 13 August before the shareholder vote at a general meeting.
The sources: ASX, Adriatic Metals website
