Newfield Resources and Stellar Diamonds to merge
Published by Claire Cuddihy,
Assistant Editor
Global Mining Review,
Australian exploration company Newfield Resources Ltd (Newfield) and AIM-listed Stellar Diamonds plc (Stellar) have entered an agreement which recommends the combination of Newfield and Stellar via a UK scheme of arrangement and a corresponding offer to acquire all of the rights over Stellar’s ordinary shares (including warrants, options and other rights).
Subject to the completion of the transactions and assuming no other Newfield or Stellar shares are issues, the total number of Newfield shares to be issued to Stellar shareholders and the holders of rights over Stellar shares would, in aggregate, amount to approximately 95.10 million new Newfield shares, representing in aggregate, approximately 16.37% of the enlarged issued share capital of the combined group following completion of the transactions.
According to Newfield Resources, the Stellar offer is conditional on the approval of the scheme by Stellar shareholders, amongst other things.
Read the article online at: https://www.globalminingreview.com/finance-business/13032018/newfield-resources-and-stellar-diamonds-to-merge/
You might also like
Ready to revolutionise the cement industry?
Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
Albemarle and Cat to pioneer sustainable mining technologies and operations
Albemarle Corp. has signed agreements with Caterpillar Inc. to collaborate on solutions to support the full circular battery value chain and sustainable mining operations.