Brief: Swick Mining Services Says DDH1 To Buy Co For A$115 Mln Enterprise Value

DDH1

11/10/2021 22:25

Oct 12 (Reuters) - Swick Mining Services Ltd  SWK.AX :
    * SWICK MINING SERVICES LTD - DDH1 LIMITED TO ACQUIRE  SWICK MINING SERVICES
FOR
A$115 MILLION ENTERPRISE VALUE
    * SWICK MINING SERVICES LTD -  DEAL FOR EQUITY VALUE OF A$0.35 PER SHARE
    * SWICK MINING SERVICES -  CO'S SHAREHOLDERS WILL ALSO RECEIVE OREXPLORE
SHARES
UNDER THE  PROPOSED ($12 MILLION SEED FUNDED) OREXPLORE DEMERGER
    * SWICK MINING SERVICES -  SWICK SHAREHOLDERS WILL OWN  19.7% OF THE
COMBINED
BUSINESS
    * SWICK MINING SERVICES -  SWICK BOARD  INTENDS TO UNANIMOUSLY RECOMMEND THE
PROPOSED TRANSACTION TO SHAREHOLDERS
    * SWICK MINING SERVICES -  CONFIRMS THAT IT IS PROCEEDING WITH THE 
OREXPLORE
DEMERGER, UNDER WHICH OREXPLORE SHARES WILL BE LISTED ON THE ASX

Source text for Eikon:  ID:nASXbf2HQK 
Further company coverage:  SWK.AX 

 ((Reuters.Briefs@thomsonreuters.com;))