Catalyst recommended bid to acquire Vango Mining

Vango Mining Limited (ASX: VAN) announced that it had signed a bid implementation agreement with Catalyst Metals Ltd, under which Catalyst will make an all-scrip, conditional offer under an off-market takeover bid to purchase all ordinary shares of Vango.

Offer Details

Under the agreement, Vango shareholders will receive five fully paid ordinary shares in Catalyst for every 115 Vango Shares held. Based on Catalyst’s closing price on 6 January 2023 of AU$1.205, the consideration value of the offer is approximately AU$66.0 million or AU$0.052 per Vango Share, representing an attractive premium of:

• 19.1% to the closing price of Vango Shares of AU$0.044 on 6 January 2023
• 30.2% to the 5-day VWAP of Vango Shares of AU$0.040
• 33.5% to the 30-day VWAP of Vango Shares of AU$0.039.

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