Brief: Silvercorp Announces Takeover Offer For OreCorp

Orecorp

26/12/2023 22:46

Dec 26 (Reuters) - Silvercorp Metals Inc  SVM.TO :
    * SILVERCORP ANNOUNCES TAKEOVER OFFER FOR ORECORP
    * SILVERCORP METALS INC: OFFERS TO ACQUIRE ALL ORECORP
SHARES IT
DOES NOT ALREADY OWN FOR A$0.19 CASH PLUS 0.0967 SILVERCORP
SHARES PER ORECORP SHARE
    * SILVERCORP METALS INC - ORECORP BOARD IS UNANIMOUSLY
RECOMMENDING ORECORP SHAREHOLDERS ACCEPT OFFER IN ABSENCE OF A
SUPERIOR PROPOSAL
    * SILVERCORP METALS- AS WITH SCHEME, UNDER SOME
CIRCUMSTANCES
BREAK FEE OF ABOUT A$2.8 MILLION WILL BE PAYABLE BY ORECORP TO
SILVERCORP IF BID IS TERMINATED
    * SILVERCORP METALS - CO AND ORECORP HAVE MUTUALLY AGREED TO
TERMINATE SCHEME IMPLEMENTATION DEED DATED AUGUST 5, 2023 WITH
EFFECT FROM DEC 26
    * SILVERCORP METALS INC - OFFER IS SUBJECT TO MINIMAL
CONDITIONS,
INCLUDING SILVERCORP HAVING A RELEVANT INTEREST IN AT LEAST
50.1% OF ORECORP SHARES

Source text for Eikon:  ID:nCNW39Lhsa 
Further company coverage:  SVM.TO 

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