Brief: Kingwest Resources And Brightstar Resources Agree To A Merger Via A Kingwest Scheme Of Arrangement

Brightstar Resources

23/12/2022 01:31

Dec 23 (Reuters) - Brightstar Resources Ltd  BTR.AX :
    * BRIGHTSTAR RESOURCES AND KINGWEST RESOURCES AGREE TO A
MERGER
VIA A KINGWEST SCHEME OF ARRANGEMENT
    * BRIGHTSTAR WILL ACQUIRE 100% OF SHARES IN KINGWEST
    * ALEX ROVIRA TO BE APPOINTED AS MANAGING DIRECTOR OF
BRIGHTSTAR
    * KINGWEST SHAREHOLDERS TO RECEIVE 1 BRIGHTSTAR SHARE FOR
EVERY
0.44 SHARES HELD AT SCHEME RECORD DATE
    * SCHEME IS UNANIMOUSLY RECOMMENDED BY BOARD OF KINGWEST
    * BRIGHTSTAR TO RAISE A$1.6M AT AN ISSUE PRICE OF A$0.016
PER
SHARE
    * UPON IMPLEMENTATION KINGWEST SHAREHOLDERS WILL HOLD
APPROXIMATELY 43% AND BRIGHTSTAR WILL HOLD 57% OF MERGED GROUP

Source text for Eikon:  urn:newsml:reuters.com:*:nASX6LRDvm
Further company coverage:  BTR.AX 
 ((Reuters.Briefs@thomsonreuters.com;))