VRM 0.00% 3.2¢ verdant minerals ltd

UPDATE ON PROPOSED SCHEME – INDEPENDENT EXPERT'S CONCLUSION AND...

  1. RVR
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    UPDATE ON PROPOSED SCHEME – INDEPENDENT EXPERT'S CONCLUSION AND REVISED INDICATIVE TIMETABLE
    Independent Expert's Conclusion
    PricewaterhouseCoopers Securities Ltd (the Independent Expert) was engaged by Verdant Minerals Ltd (VRM) to provide an independent expert's report in relation to the proposed acquisition by CD Capital Natural Resources Fund III LP (CD Capital) of all the issued shares in VRM other than those held by Washington H. Soul Pattinson and Company Limited (WHSP) or in which WHSP has a relevant interest, by way of a scheme of arrangement (the Scheme) (Independent Expert's Report). The Independent Expert has concluded that the Scheme is fair and reasonable to and in the best interests of VRM shareholders.
    The Independent Expert's conclusion, along with a copy of the Independent Expert's Report, will be set out in the scheme booklet. The Independent Expert's conclusion should be read in context with the full Independent Expert's Report and the scheme booklet.
    The independent board committee established by VRM unanimously recommends that Scheme Shareholders vote in favour of the Scheme and each VRM director intends to vote all VRM shares held or controlled by him in favour of the Scheme, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is fair and reasonable to and in the best interests of VRM shareholders.
    First court hearing and revised indicative timetable
    The first court hearing is to be held at the Federal Court of Australia at 9.30am on Tuesday 16 April 2019. At this hearing, VRM will seek, among other things that the court order that a meeting of VRM shareholders other than WHSP (Scheme Shareholders) be convened at which Scheme Shareholders will consider and vote on the proposed Scheme
 
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