Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn

Company News Summary

St Barbara Announces to Acquire Atlantic Gold and Equity Raising

15 May 2019  |  09:44:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: St Barbara to acquire Atlantic Gold and equity raising

St Barbara announced that it has, through its wholly owned subsidiary Nord Pacific entered into a Canadian Plan of Arrangement Agreement with Atlantic Gold. It will acquire 100% of all outstanding Atlantic shares (on a fully diluted basis) at an all cash offer price of C$2.90 per Atlantic share, implying a total equity value of A$768m (the Transaction) and a total enterprise value of A$854m. It intends to raise A$490m through an underwritten pro-rata accelerated non-renounceable entitlement offer to partly fund the Transaction. The Transaction will be partly funded via an underwritten 1 for 3.1 pro rata accelerated non-renounceable entitlement offer to raise A$490m before costs.

Please click here for full details

See more ASX300 News Announcements