https://www.miningweekly.com

Sirius–Independence merger gets shareholder nod

Sirius–Independence merger gets shareholder nod

Photo by Bloombeg

3rd September 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The shareholders of ASX-listed Sirius Resources on Thursday voted in favour of a takeover offer from fellow-listed Independence Group.

In May, the two companies announced merger plans that would see Sirius shareholders issued with 0.66 of an Independence share for every one Sirius share held, along with a cash consideration of 52c a share.

The offer valued Sirius at around A$1.8-billion.

Sirius shareholders also approved a demerger of the Polar Bear and Scandinavian exploration assets, which included the recently discovered Baloo gold deposit, through a demerger scheme of arrangement into a separately listed company known as S2.

Under the demerger, Sirius shareholders would be issued with one share in S2 for every 2.5 Sirius shares held.

Sirius said on Thursday that the company would now seek Federal Court approval for the merger, in the hopes of ceasing share trading on the ASX by September 10.

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

Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes 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:0.044 0.884s - 111pq - 2rq
Subscribe Now