Brief: Coda Minerals Says Co And Torrens Mining To Merge Via Recommended Takeover Offer

Coda Minerals

09/02/2022 01:19

Feb 9 (Reuters) - Coda Minerals Ltd  COD.AX :
    * CODA MINERALS AND TORRENS MINING TO MERGE VIA RECOMMENDED
TAKEOVER OFFER
    * TO MAKE OFFER TO ACQUIRE TORRENS WITH 0.23 NEW CODA SHARES
OFFERED FOR EVERY 1 TORRENS SHARE HELD
    * TORRENS' BOARD OF DIRECTORS UNANIMOUSLY RECOMMEND THAT
TORRENS'
SHAREHOLDERS ACCEPT OFFER, IN ABSENCE OF A SUPERIOR PROPOSAL
    * UNDER OFFER, TORRENS' SHAREHOLDERS WILL RECEIVE 0.23 CODA
SHARES
FOR EVERY 1 TORRENS SHARE HELD
    * TRANSACTION IS ACCRETIVE FOR CODA
    * OFFER VALUES TORRENS' SHARES AT A$0.202 PER SHARE
    * OFFER VALUES TORRENS AT APPROXIMATELY A$23.2 MILLION
EQUITY
VALUE

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