Majority of Centamin shareholders approve AngloGold Ashanti deal
Centamin plc announced on in a bourse filling on Monday that its shareholders had approved a scheme of arrangement to be acquired by AngloGold Ashanti.
Over 75 per cent of Centamin shareholders voted in favour of the scheme of arrangement, paving the way for the completion of the deal.
“… the requisite majority in number of Scheme Shareholders who voted (either in person or by proxy) and who together represented more than 75% of the voting rights of all Centamin Shares voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed.”
The approval, which was secured at a Court Meeting and General Meeting, marks a significant step forward in the proposed acquisition. The deal is expected to create a leading global gold mining company with a strong portfolio of assets and a robust balance sheet.
The acquisition is being implemented through a court-sanctioned scheme of arrangement under Jersey law. The transaction is subject to customary regulatory approvals and other conditions.
Both companies believe that the merger will create significant value for shareholders and position the combined group as a global leader in the gold mining industry.
“The total number of Centamin Shares in issue at the Scheme Voting Record Time was 1,161,082,695. Therefore, the total number of voting rights in Centamin on the Scheme Voting Record Time was 1,161,082,695.”
Voting results of the Court Meeting
The results of the poll at the Court Meeting are shown in the table below. Each Scheme Shareholder present, whether in person or by proxy, was entitled to one vote for each Scheme Share held at the Scheme Voting Record Time.
| Results of Court Meeting | Scheme Shares voted | Scheme Shareholders who voted | No. of Scheme Shares voted as a % of the Scheme Shares eligible to be voted at the Court Meeting(1) | ||
| Number | % | Number | % | ||
| FOR | 725,721,739 | 98.08 | 94 | 77.69 | 62.50 |
| AGAINST | 14,177,424 | 1.92 | 27 | 22.31 | 1.22 |
| TOTAL(2) | 739,899,163 | 100 | 121 | 100 | 63.72 |
On 10 September 2024, the boards of Centamin and AngloGold Ashanti announced that they had agreed the terms of a recommended acquisition of Centamin for approximately $2.5 billion.
Attribution: London Stock Exchange
Subediting: Y.Yasser
