Gryphon Minerals - Scheme Booklet lodged with ASIC
Gryphon Minerals (ASX:GYR) has lodged its Scheme Booklet with ASIC for the proposed merger with ASX/TSX-listed Teranga Gold Corporation. The Independent Expert has concluded that in the absence of a superior proposal, the Scheme is fair and reasonable and therefore is in the best interests of shareholders. The Scheme Meeting wil be held in Perth on Friday 23 September.
Gryphon Minerals Limited (Gryphon) (ASX:GRY) announces that the Scheme Booklet for the proposal by Teranga Gold Corporation (Teranga) to acquire all the ordinary shares in Gryphon by way of a scheme of arrangement in consideration for 0.169 Teranga CHESS Depositary Interests or 0.169 common shares of Teranga per Gryphon Share held on the Record Date (Scheme) has today (17 August 2016) been lodged for registration with the Australian Securities and Investments Commission.
A copy of the Scheme Booklet, which includes the Independent Expert’s Report and the notice for the Scheme Meeting, is attached to this announcement.
The Scheme Meeting will be held at 10.00am (Perth time) on Friday, 23 September 2016 at 38 Station Street, Subiaco WA 6008.
Independent Expert’s Report and Gryphon Directors recommendation
The Scheme Booklet contains a report by the Independent Expert, KPMG Financial Advisory Services (Australia) Pty Ltd. The Independent Expert has concluded that in the absence of a superior proposal, the Scheme is fair and reasonable and therefore is in the best interests of shareholders.
The Gryphon Directors unanimously recommend that Gryphon shareholders vote in favour of the Scheme in the absence of a superior proposal. Each Gryphon Director intends to vote in favour of the Scheme in relation to all of the Gryphon shares held by them, or on their behalf, at the time of the Scheme Meeting in the absence of a superior proposal.
Dispatch of the Scheme Booklet
The Scheme Booklet is expected to be dispatched to Gryphon shareholders (either by post or electronically) on or about 22 August 2016.
Gryphon Shareholders should carefully read the Scheme Booklet and the materials accompanying it before deciding whether or not to vote in favour of the Scheme.
If you have any questions or require further information, please contact Gryphon’s Chief Financial Officer on +61 (08) 9287 4333.