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BRIEF-Barrick To Buy Capital Of Acacia It Does Not Already Own For About 232P/Share

Published 2019-07-19, 02:17 a/m
Updated 2019-07-19, 02:20 a/m
© Reuters.  BRIEF-Barrick To Buy Capital Of Acacia It Does Not Already Own For About 232P/Share

July 19 (Reuters) - Acacia Mining ACAA.L :

* OFFER BY BARRICK GOLD CORPORATION

* REACHED AGREEMENT ON TERMS OF A RECOMMENDED OFFER BY BARRICK FOR ORDINARY SHARE CAPITAL OF ACACIA THAT BARRICK DOES NOT ALREADY OWN

* EACH SCHEME SHAREHOLDER WILL RECEIVE: FOR EVERY SHARE: 0.168NEW BARRICK SHARES AND ANY ACACIA EXPLORATION PROPERTIES SPECIAL DIVIDENDS

* PROPOSED DEAL FOR TOTAL CONSIDERATION OF APPROXIMATELY £343 MILLION ($428 MILLION) FOR ACACIA MINORITY SHAREHOLDERS

* PROPOSED DEAL FOR TOTAL VALUE OF APPROXIMATELY £951 MILLION FOR ACACIA

* BARRICK AGREED, FOR BENEFIT OF ALL ACACIA SHAREHOLDERS, TO UNDERTAKE A SALES PROCESS TO REALISE VALUE FOR SALE EXPLORATION PROPERTIES

* TERMS OF ACQUISITION ARE FINAL AND THEREFORE, BARRICK WILL NOT BE PERMITTED TO INCREASE TERMS OF ACQUISITION

* BARRICK TO DISPOSE OF SALE EXPLORATION PROPERTIES IN AN ARM'S LENGTH TRANSACTION OR SERIES OF TRANSACTIONS

* TERMS OF SHARE FOR SHARE EXCHANGE RATIO IMPLY A VALUE OF APPROXIMATELY 232 PENCE PER ACACIA SHARE

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