Intermin and MacPhersons Merger Presentation
Perth, Feb 6, 2019 AEST (ABN Newswire) - Intermin Resources Limited (
ASX:IRC) Intermin and MacPhersons Merger Presentation
Transaction summary
Consideration
- MacPhersons shareholders to receive 1 Intermin share for every 1.8227 MacPhersons shares held
- Following completion, Intermin and MacPhersons shareholders will hold 55% and 45% of Horizon
Structure
- Merger to be implemented via a Scheme of Arrangement (subject to MacPhersons shareholder and Court approval)
- Intermin to be renamed Horizon Minerals following completion (subject to Intermin shareholder approval)
Recommendation
- Transaction has unanimous support from the Boards of both Intermin and MacPhersons
- MacPhersons Directors intend to vote in favour of the Scheme in the absence of a superior proposal and subject to a favourable opinion from the Independent Expert
Offer Conditions
- Receipt of all regulatory, shareholder and other approvals, including ASX and ASIC approvals
- Approval of the Scheme of Arrangement by MacPhersons shareholders and by the Court
- Independent expert concluding that the Scheme is in the best interests of MacPhersons shareholders and not withdrawing or adversely modifying that conclusion
- Other customary conditions precedent, including the absence of a material adverse change, no material transactions, no prescribed occurrence occurring, accuracy or representations and warranties, obtaining third party consents and / or waivers
Indicative Timetable
- Release of Scheme Booklet to ASX Mid-April 2019
- Scheme Meeting: Mid-May 2019
- Implementation: Early June 2019
To view the presentation, please visit:
http://abnnewswire.net/lnk/S2D87X7K
About Horizon Minerals Limited
Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.
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