Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Scheme Document. Buchans is a Canadian registered company which holds directly or indirectly all of the assets of Minco other than the Royalty.įull details of the Resolutions passed are set out in the notices of the Court Meeting and Extraordinary General Meeting ("EGM") contained in the scheme document published by Minco on 28 June 2017 (the "Scheme Document"). The Royalty Disposal is being effected by means of a recommended share for share acquisition by Dalradian of the entire issued and to be issued share capital of Minco (the "Offer") which will be implemented by means of a scheme of arrangement, under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland (the "Scheme").Īs part of the Scheme it is also proposed that Minco will undertake a demerger of its wholly owned subsidiary Buchans Resources Limited ("Buchans") to Minco Shareholders by way of a transfer in specie (the "Demerger") so that on the completion of the Offer the only asset held by Minco will be the Royalty.
("Dalradian") on the terms of the disposal of Minco's 2% net smelter return royalty on the Curraghinalt gold deposit in County Tyrone, Northern Ireland ("Royalty"), which is currently being developed by Dalradian ("Royalty Disposal"). On 1 June 2017, the Board of Minco plc announced that it had reached agreement with Dalradian Resources Inc. Recommended Offer for Minco plc by Dalradian Resources Inc andĭemerger of Buchans to Minco Shareholdersĭublin: 26 July 2017: Minco Plc (AIM - "MIO") is pleased to announce that at meetings of its shareholders held earlier today the Minco Shareholders voted in favour of the resolution to approve the Scheme of Arrangement implementing the recommended Offer by Dalradian for all of the share capital of Minco and the Demerger of its wholly owned subsidiary Buchans Resources Limited to Minco Shareholders by way of a transfer in specie. MINCO SHAREHOLDERS APPROVE SCHEME OF ARRANGEMENT FOR DALRADIAN OFFER AND DEMERGER OF BUCHANS
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