Genesis and Vault to Merge
Key points
- Genesis Minerals and Vault Minerals plan to merge
- New entity will be a major Australian gold company
- Merger details to be finalized through a scheme of arrangement
Full summary
Genesis Minerals Limited and Vault Minerals Limited have announced their intention to merge, creating a new Australian gold major. The merger will be executed through a scheme of arrangement, where Genesis will acquire all fully paid ordinary shares in Vault in exchange for new Genesis shares and cash. The merger is subject to approval by Vault shareholders and regulatory conditions. Further details will be provided in an explanatory statement and notice of meeting to be released by Vault.
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