Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

BRIEF-Beadell Resources Says Great Panther To Buy All Shares Of Co Via Scheme Implementation Deed

Published 24/09/2018, 02:20 pm
© Reuters.  BRIEF-Beadell Resources Says Great Panther To Buy All Shares Of Co Via Scheme Implementation Deed

Sept 24 (Reuters) - Beadell Resources Ltd BDR.AX :

* ENTERED INTO A SCHEME IMPLEMENTATION DEED PURSUANT TO WHICH GREAT PANTHER WILL ACQUIRE ALL OF ISSUED ORDINARY SHARES OF BEADELL

* DIRECTORS OF BEADELL UNANIMOUSLY RECOMMEND SHAREHOLDERS VOTE IN FAVOUR OF SCHEME IN ABSENCE OF SUPERIOR PROPOSAL

* UNDER TERMS, BEADELL WILL GET 0.0619 COMMON SHARES OF GREAT PANTHER FOR EACH ORDINARY SHARE OF BEADELL

* BEADELL'S SENIOR SECURED LENDERS IN BRAZIL HAVE CONFIRMED THAT THEY WILL CONSENT TO TRANSACTION

* IMPLIED EQUITY VALUE FOR BEADELL BASED ON CONSIDERATION IS APPROXIMATELY A$144 MILLION

* UPON COMPLETION, EXISTING BEADELL AND GREAT PANTHER SHAREHOLDERS EXPECTED TO OWN ABOUT 38% AND 62%, RESPECTIVELY, OF COMBINED CO

* JIM ZADRA, CURRENT CFO OF GREAT PANTHER, TO CONTINUE TO AS CFO OF COMBINED CO

* JAMES BANNANTINE, CURRENT PRESIDENT AND CEO OF GREAT PANTHER, WILL CONTINUE AS PRESIDENT AND CEO OF COMBINED COMPANY

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.