Brief: Alumina Recommends Shareholders Vote In Favour Of Alcoa Transaction

Alumina

12/03/2024 01:36

March 12 (Reuters) - Alumina Ltd  AWC.AX :
    * ALUMINA ENTERS INTO BINDING SCHEME IMPLEMENTATION
DEED-AWC.AX
    * ENTERED INTO A SCHEME IMPLEMENTATION DEED WITH ALCOA
CORPORATION
    * ELIGIBLE ALUMINA SHAREHOLDERS WILL BE ENTITLED TO RECEIVE
0.02854 SHARES OF ALCOA COMMON STOCK FOR EACH ALUMINA SHARE HELD
    * ALCOA HAS AGREED TO ESTABLISH A FOREIGN EXEMPT LISTING ON
AUSTRALIAN SECURITIES EXCHANGE
    * RECOMMEND THAT ALUMINA SHAREHOLDERS VOTE IN FAVOUR OF
TRANSACTION
    * FOREIGN EXEMPT LISTING WOULD ENABLE ALUMINA SHAREHOLDERS
TO
TRADE SHARES OF ALCOA COMMON STOCK VIA CDIS ON ASX
    * SID INCLUDES CERTAIN CIRCUMSTANCES IN WHICH A BREAK FEE OF
US$22
MILLION WOULD BE PAYABLE TO ALCOA
    * ALUMINA SHAREHOLDERS TO VOTE AT SCHEME MEETING WHICH IS
TARGETED
TO BE HELD IN 3Q 2024
    * SCHEME IS EXPECTED TO BE IMPLEMENTED BY 3Q 2024


Further company coverage:  AWC.AX 

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