2 Min Read
May 15 (Reuters) - Eldorado Gold Corp:
* Eldorado Gold - Integra has agreed to pay a termination fee of approximately C$18 million to Eldorado upon occurrence of certain termination events
* Entered into a definitive agreement with Integra Gold Corp
* Has agreed to acquire all of issued and outstanding common shares of Integra that it does not currently own
* Transaction will be carried out by way of a court-approved plan of arrangement
* Eldorado Gold - Maximum number of shares issuable by co under arrangement will be about 77 million
* Eldorado Gold - Maximum amount of cash payable by Eldorado under arrangement will be approximately C$129 million equal to 25% of total consideration.
* Total transaction value is approximately C$590 million, inclusive of Integra shares held by Eldorado.
* Eldorado - Integra shareholders will receive 0.24 Eldorado shares, C$1.21 in cash, both subject to pro ration, or 0.18188 of Eldorado share and C$0.30 in cash
* Eldorado Gold - Upon completion of transaction current Eldorado and Integra shareholders would hold approximately 90% and 10% of combined company
* Each of directors and senior officers of Integra have agreed to vote in favour of transaction
Source text for Eikon:
Further company coverage: