LONDON - Condor Gold PLC announced today the court sanction of a scheme of arrangement, finalizing the acquisition of the company by Metals Exploration PLC. This acquisition encompasses the entire issued and to be issued share capital of Condor Gold, following approval from shareholders.
The transaction was subject to terms and conditions detailed in a scheme document released on December 11, 2024. Shareholders granted their approval on January 6, 2025, during the Court Meeting and subsequent General Meeting.
The scheme is set to become effective following the delivery of the Court Order to the Registrar of Companies, expected on January 15, 2025.
Consequently, today marks the last day of trading for Condor Gold Shares on the AIM market of the London Stock Exchange (LON:LSEG) and on the Toronto Stock Exchange (TSX). A suspension of trading on AIM will commence from 7:30 a.m. on Tuesday, with a halt on the TSX at market open.
The TSX has conditionally approved the delisting of Condor Gold Shares, anticipated to be effective at market close on Tuesday. The AIM cancellation is slated for 7:00 a.m. on January 16, 2025, contingent on the scheme's effectiveness.
Shareholders are informed that the Fixed Consideration New MTL Shares will be credited to CREST accounts for uncertificated Scheme Shares shortly after January 16, 2025. Additionally, the Cash Consideration is due within 14 days post the Effective Date.
Further announcements will be made to update shareholders when the scheme is officially in effect. The current timetable of events remains as outlined in the December scheme document, with any changes to be communicated through a Regulatory Information Service.
This news is based on a press release statement from Condor Gold.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.