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Hochschild To Demerge Aclara From Group - Quick Facts

Hochschild Mining PLC (HOC.L) announced its plan to demerge shares representing 80% of the entire issued share capital of indirect subsidiary Aclara, a development-stage rare earth mineral resources company. The demerger will be effected by Hochschild Mining distributing Aclara shares representing 80% of the entire issued share capital of Aclara to shareholders of the Hochschild Mining by way of a demerger dividend. Following the demerger, Hochschild Mining Holdings Limited, a subsidiary of Hochschild Mining, will retain 20% of the Aclara shares.

Aclara plans to conduct a concurrent initial public offering of the Aclara shares. It has applied to have the Aclara shares listed on the TSX.

Eduardo Hochschild, Chairman said: "This is the logical next step forward for our rare earth business. It is our belief that, as two standalone businesses, both Hochschild and Aclara will have the greatest potential for delivering long-term value creation."

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