Acquisition, demerger schemes become legally effective

Acquisition, demerger schemes become legally effective

Gindalbie Metals (ASX: GBG) announces that a copy of the orders of the Federal Court of Australia approving the acquisition and demerger schemes of arrangements have been lodged with the Australian Securities and Investments Commission.


Gindalbie Metals (ASX: GBG) announces that a copy of the orders of the Federal Court of Australia approving the following schemes of arrangement have been lodged with the Australian Securities and Investments Commission:

·       the scheme of arrangement under which Angang Group Hong Kong (Holdings) Limited has agreed to acquire all of the remaining issued ordinary shares in Gindalbie that it does not already own (“Acquisition Scheme”); and

·       the scheme of arrangement under which Coda Minerals Limited will be demerged from Gindalbie via a capital reduction (“Demerger Scheme”).

As a result, the Acquisition Scheme and the Demerger Scheme are now legally effective. A copy of the Court's orders as lodged with ASIC are attached to this announcement. Gindalbie will now apply for its shares to be suspended from trading on the ASX with effect from the close of trading today.

The record date for the Acquisition Scheme and the Demerger Scheme is Tuesday 16 July 2019. The schemes are expected to be implemented on Tuesday 23 July 2019.

Gindalbie shareholders who have questions in relation to the transactions announced by Gindalbie on 11 March 2019 should contact the Gindalbie Shareholder Information Line on 1300 308 375 (for callers within Australia) or +61 8 6314 6314 (for callers outside Australia) between 9.00 am and 5.00 pm (Perth time) Monday to Friday.

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