St Barbara Limited, a public corporation incorporated under the laws in Australia, Friday announced that the Board of Directors of the company and the Board of Directors of Allied Gold Mining Plc (ALD.L) have agreed for the terms of a recommended offer under which St Barbara Limited will acquire the entire issued and to be issued ordinary share capital of Allied Gold Mining.
The two companies further stated that the proposed offer will implemented by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act.
St Barbara further stated that, as per the terms of the offer, Scheme Shareholders will be entitled to receive A$1.025 in cash and 0.8 St Barbara Consideration Shares for each Allied Gold Share held at the Scheme Record Time.
The two companies believe that the proposed combination has a clear strategic and financial rationale, is value enhancing, and provides benefits for the shareholders of the enlarged group.
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