https://www.miningweekly.com

Afferro to delist from TSX-V, Aim

1st October 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Following its acquisition by investment group International Mining & Infrastructure Corporation (IMIC), junior iron-ore miner Afferro Mining will, following full completion of the agreement, delist from the Aim and TSX-V.

The acquisition, which remains pursuant to a Canadian court approved plan of arrangement, IMIC shareholder approval, final court approval and the satisfaction or waiver of the conditions to closing, is expected to be complete by October 31, after which cancellation of Afferro’s share trading will occur.

This follows approval of the acquisition last month by Afferro shareholders and optionholders.

The deal will see IMIC acquiring the junior at 120p a share, comprising 80p in cash and a listed two-year unsecured convertible loan note with a value of 40p and a yearly interest of 8%.

The acquisition valued the fully diluted share capital of Afferro at about $200-million.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.062 1.107s - 128pq - 2rq
Subscribe Now