Federal court approves acquisition and demerger schemes

Federal court approves acquisition and demerger schemes

Gindalbie Metals (ASX:GBG) announces that the Federal Court of Australia has today made orders approving the company’s acquisition and demerger schemes.


Gindalbie Metals (ASX:GBG) announces that the Federal Court of Australia has today made orders approving:

·       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”).

Gindalbie expects to lodge a copy of the Court's orders with the Australian Securities and Investments Commission tomorrow, Tuesday 9 July 2019, at which time the Acquisition Scheme and the Demerger Scheme will become legally effective. Gindalbie will then apply for its shares to be suspended from trading on the ASX with effect from the close of trading tomorrow.

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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