Uranium explorer Vimy up on shareholder nod for merger with Deep Yellow

DEEP YELLOW

20/07/2022 04:52

** Shares of uranium explorers Vimy Resources Ltd  VMY.AX  
 RIC  and Deep Yellow Ltd  DYL.AX  surge on receiving VMY
shareholder nod for A$658 mln ($455.07 mln) merger 
    ** VMY up as much as 11.1% at A$0.2 to hit its highest since
June 10, while DYL surges as much as 9.6% to A$0.685, their
highest since June 14
    ** VMY says majority of shareholders voted in favour of
proposed scheme, under which DYL will acquire 100% of VMY shares
on issue  urn:newsml:reuters.com:*:nASX8wNK9Y
    ** VMY shareholders will receive 0.294 DYL shares for every
VMY share held, representing a 47% stake in merged co
 urn:newsml:reuters.com:*:nL2N2VY00N
    ** VMY stock posts biggest intraday pct gain since July 8
    ** VMY stock down 7.7% this year, as of last close, compared
to a 27.3% decline for DYL   
  

($1 = 1.4459 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))