Brief: Red 5 And Silver Lake Resources To Merge

Vault Minerals

05/02/2024 24:38

Feb 5 (Reuters) - RED 5 Limited  RED.AX :
    * RED 5 AND SILVER LAKE RESOURCES TO MERGE
    * RED 5 AND SILVER LAKE RESOURCES TO MERGE
    * CO AND SILVER LAKE RESOURCES LIMITED  HAVE ENTERED INTO A
BINDING SCHEME IMPLEMENTATION DEED
    * COMBINED ENTITY WILL BE LED BY RUSSELL CLARK AS CHAIRMAN
    * COMBINED ENTITY WILL BE LED BY LUKE TONKIN AS MANAGING
DIRECTOR
AND CEO
    * UNDER DEAL, CO WILL ACQUIRE 100% OF SHARES IN SILVER LAKE
    * UNDER DEAL, , EACH SILVER LAKE SHAREHOLDER WILL RECEIVE
3.434
RED 5 SHARES FOR EVERY SILVER LAKE SHARE HELD
    * UNDER DEAL,  SILVER LAKE SHAREHOLDERS WILL RECEIVE 3.434
NEW
SHARES IN RED 5 FOR EVERY SHARE OF SILVER  LAKE THEY OWN
    * SILVER LAKE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
SILVER
LAKE SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION
    * TRANSACTION IS ALSO UNANIMOUSLY SUPPORTED BY THE BOARD OF
RED 5
    * UNDER DEAL, STRUAN RICHARDS TO BE CFO OF MERGED ENTITY
    * UPON IMPLEMENTATION  OF TRANSACTION, CO'S SHAREHOLDERS TO
OWN
51.7% OF MERGED ENTITY AND SILVER LAKE SHAREHOLDERS WILL OWN
REMAINING 48.3%

Source text for Eikon:  ID:nASX5dSTlx 
Further company coverage:  RED.AX 

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