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    Home » Metals Exploration to acquire Condor Gold after vote approval By Investing.com
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    Metals Exploration to acquire Condor Gold after vote approval By Investing.com

    userBy userJanuary 6, 2025No Comments2 Mins Read
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    LONDON – Metals Exploration plc (“MTL”) is set to acquire Condor Gold plc following approval from Condor’s shareholders in a court-sanctioned scheme of arrangement. The vote, which took place today, saw a significant majority of Condor Gold’s Scheme Shareholders cast their votes in favor of the acquisition.

    At the Court Meeting, 99.41% of the voting Scheme Shareholders backed the resolution to approve the Scheme. The General Meeting subsequently passed a Special Resolution approving the Acquisition and an amendment to the Condor Gold articles of association. The successful vote is a key step in the acquisition process, which was initially announced on December 4, 2024.

    The completion of the Acquisition is still subject to several conditions, including approval from MTL shareholders at their General Meeting scheduled for January 9, 2025, and the sanctioning of the Scheme by the High Court, expected to occur on January 13, 2025. If all conditions are met, the acquisition is anticipated to become effective on January 15, 2025.

    The Acquisition is poised to consolidate MTL’s position in the market by integrating Condor Gold’s resources and capabilities. The terms of the deal were not disclosed in the announcement, but the overwhelming support from Condor’s shareholders indicates confidence in the strategic value of the merger.

    The Scheme Document, published on December 11, 2024, provided details on the terms and conditions of the Scheme, including an explanatory statement, a timetable of principal events, and the actions required by Scheme Shareholders.

    The information in this article is based on a press release statement, which offers an official account of the events surrounding the acquisition. It demonstrates the procedural steps companies undergo during mergers and acquisitions, including shareholder voting and legal approvals. Investors and market observers will monitor the upcoming MTL shareholder meeting and the High Court’s decision to finalize the acquisition’s status.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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