Emmerson Resources Limited to be Acquired by Pan African Resources in ~AU$311 million Transaction
Emmerson Resources Limited (ASX: ERM) has entered into a Scheme Implementation Deed with Pan African Resources plc under which Pan African will acquire 100% of Emmerson’s issued share capital through an Australian scheme of arrangement, valuing the company at approximately AU$311 million on a fully diluted basis. Under the proposed transaction, Emmerson shareholders will receive 0.1493 Pan African shares (via ASX-listed Chess Depositary Interests) for each Emmerson share held, implying an offer value of AU$0.45 per share.
The offer represents a 36.4% premium to Emmerson’s closing share price of AU$0.330 and a 42.7% premium to its 30-day volume weighted average price. The Emmerson Board has unanimously advised shareholders to support the scheme, provided that no superior proposal emerges and the independent expert determines that the transaction is in the best interests of shareholders. If approved, the transaction is expected to provide investors with immediate value realisation and exposure to a larger, diversified gold producer.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Emmerson Resources Limited to be Acquired by Pan African Resources in ~AU$311 million Transaction
Emmerson Resources Limited (ASX: ERM) has entered into a Scheme Implementation Deed with Pan African Resources plc under which Pan African will acquire 100% of Emmerson’s issued share capital through an Australian scheme of arrangement, valuing the company at approximately AU$311 million on a fully diluted basis. Under the proposed transaction, Emmerson shareholders will receive 0.1493 Pan African shares (via ASX-listed Chess Depositary Interests) for each Emmerson share held, implying an offer value of AU$0.45 per share.
The offer represents a 36.4% premium to Emmerson’s closing share price of AU$0.330 and a 42.7% premium to its 30-day volume weighted average price. The Emmerson Board has unanimously advised shareholders to support the scheme, provided that no superior proposal emerges and the independent expert determines that the transaction is in the best interests of shareholders. If approved, the transaction is expected to provide investors with immediate value realisation and exposure to a larger, diversified gold producer.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au