LONDON - Centamin plc, a mid-tier gold producer, has announced the cancellation of its shares from the Official List and the London Stock Exchange (LON:LSEG)'s Main Market, effective as of this Monday morning. The delisting follows the completion of the acquisition by AngloGold Ashanti plc, a move that was first announced on November 22, 2024.
The transaction, which was carried out through a scheme of arrangement under Article 125 of the Jersey Companies Law, has led to the effective takeover of Centamin's entire issued and to-be-issued share capital by AngloGold Ashanti. In addition, Centamin's shares are scheduled to be removed from the Toronto Stock Exchange by the end of the trading day, aligning with the consolidation of ownership under AngloGold Ashanti.
Details regarding the terms of the acquisition were previously outlined in the scheme document published on September 30, 2024. With the acquisition now complete, Centamin shares have ceased trading on these major exchanges, marking a significant change in the company's public trading status.
The Financial Conduct Authority (FCA) approved the application for the cancellation of the listing, and the London Stock Exchange facilitated the removal of the shares from trading. Investors and market watchers have been monitoring the situation closely, as such acquisitions and delistings can impact market dynamics and the gold mining sector.
The acquisition by AngloGold Ashanti, one of the world's largest gold mining companies, is part of a strategic move to expand its portfolio and market presence. The specific financial terms of the deal were not disclosed in the press release statement.
This development is significant for stakeholders of both companies, as well as for the broader mining industry. The consolidation of Centamin into AngloGold Ashanti's operations is expected to have various implications for production capabilities and market competition.
Investors are advised to refer to the scheme document for a detailed understanding of the transaction and its implications. The document provides comprehensive information on the acquisition process and the future direction of the combined entity. The information in this article is based on a press release statement.
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