Capricorn increases share buyout offer for Warriedar
ASX-listed Capricorn Metals has increased its buyout offer price for fellow ASX-listed Warriedar from an initial one Capricorn share for every 62 Warriedar shares to one Capricorn share for every 52.57 Warriedar shares.
The Warriedar board has unanimously recommended that shareholders vote in favour of the share scheme proposed by Capricorn, pending an independent expert’s evaluation that is under way.
The implied value of the revised share scheme consideration is $0.26 apiece, which represents a 24% premium to the closing price of Warriedar’s shares on ASX on October 6 and a 116% premium to the closing price of Warriedar’s shares on July 23, which was the last trading day before Warriedar announced its buyout offer.
The companies have also agreed to revised terms as to the separate scheme of arrangement pursuant to which it is proposed that the outstanding Warriedar listed options will be exchanged for new Capricorn options at a revised ratio of one Capricorn ratio for every 52.57 Warriedar listed options.
If the share scheme and option scheme are implemented, Warriedar shareholders will hold 5.5% of the enlarged group on a diluted basis.
Existing shareholders representing 25% of Warriedar’s shareholding have indicated their intention to vote in favour of both the share and option schemes.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Smart energy storage solutions for efficient, safe, and profitable power.
VISIT SHOWROOM
ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
