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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Beadell Resources Ltd    BDR   AU000000BDR9

BEADELL RESOURCES LTD

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Beadell Resources : Shareholders Approve Scheme of Arrangement with Great Panther

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02/11/2019 | 10:25pm EDT

ASX Announcement

12 February 2019

BEADELL SHAREHOLDERS APPROVE SCHEME OF ARRANGEMENT

WITH GREAT PANTHER

Beadell Resources Limited (Beadell or the Company) is pleased to announce that Beadell shareholders today approved the proposal by Great Panther Silver Limited (TSX: GPR; NYSE American: GPL) (Great Panther) to acquire 100% of the issued capital of Beadell by way of a scheme of arrangement (Scheme).

Beadell will now seek orders from the Supreme Court of Western Australia (Court) for approval of the Scheme at a hearing scheduled for 8:30am (AWST) on Friday, 15 February 2019.

RESULTS OF THE SCHEME MEETING

In accordance with ASX Listing Rule 3.13.2, Beadell advises that the resolution to approve the Scheme, as set out in the Notice of Scheme Meeting attached to the Scheme Booklet dated 21 December 2018, was passed by the requisite majorities of Beadell shareholders at the meeting held earlier today pursuant to orders made by the Court on 21 December 2018 (Scheme Meeting).

  • 74.60% of Beadell shareholders present and voting (either in person or by proxy) in favour of the resolution; and

  • 96.92% of votes cast in favour of the resolution.

Details of the valid proxies received and votes cast, as required by section 251AA(2) of the Corporations Act 2001 (Cth), are set out in the attached voting results.

TIMETABLE

The Scheme remains subject to the approval of the Court at the second Court hearing currently scheduled for 8:30am (AWST) on Friday, 15 February 2019.

An indicative timetable of the key milestones remaining under the Scheme is set out below.

Event

Date

Second Court Date to approve the Scheme

15 February 2019

Effective Date - the date the Scheme comes into effect under the Corporations Act

18 February 2019

Last day of trading in Beadell Shares on ASX

18 February 2019

Scheme Record Date

25 February 2019

Latest time and date for receipt of Election Forms from Small Shareholders

5.00pm AWST on 25

February 2019

Implementation Date

5 March 2019

New Great Panther Shares commence trading on TSX on a normal settlement basis

8 March 2019

New Great Panther Shares commence trading on NYSE (American) on a normal settlement basis

8 March 2019

Expected dispatch of DRS Advices for New Great Panther Shares

19 March 2019

All dates are indicative only and are subject to the Court approval process, ASX and TSX approval, and the satisfaction or waiver of the conditions precedent under the Scheme Implementation Deed. Beadell may vary any or all of these dates and times and will provide notice of any such variation on ASX.

5.00pm AWST on 25

ABOUT BEADELL

Beadell operates the Tucano Gold Mine in mining-friendly Amapá State, northern Brazil. Tucano occurs within 2,500 km2 of 100%-owned, highly prospective and under-explored 'Birimian age' greenstone terrane. The recently upgraded Tucano plant can process approximately 3.5 million tonnes per year of oxide-sulphide ore feed in a wide range of blends. There is a pregnant pipeline of high potential in-mine and near-mine prospects, anchored by several high-grade gold drill intervals over several metres, that are the near-term opportunity to improve the head grade and prolong the mine life.

FOR FURTHER INFORMATION PLEASE CONTACT:

TORONTO

PERTH

Nicole Adshead-Bell | CEO & Managing Director

Greg Barrett | CFO & Company Secretary

Graham Donahue | Head of Corp. Development

T +61 8 9429 0800

T: +1 416 945 6640

info@beadellresources.com.au

ASX ANNOUNCEMENT

BEADELL RESOURCES LIMITED

Scheme Meeting

Tuesday, 12 February 2019

Voting Results

The following information is provided in accordance with section 251AA(2) of the Corporations Act (Cth).

Resolution Details

Instructions given to validly appointed proxies

(as at proxy close)

Number of votes cast on the poll

(where applicable)

Number of holders voting on the poll

(where applicable)

Resolution

Result

Resolution

Resolution Type

For

Against

Proxy's Discretion

Abstain

For

Against

Abstain*

For

Against

Abstain*

Carried / Not Carried

1 - Scheme Resolution

Special

898,290,318

32,510,367

10,587,117

751,709

1,023,270,098

32,520,367

751,709

329

112

9

Carried

* Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.

3

Disclaimer

Beadell Resources Limited published this content on 12 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 February 2019 03:24:08 UTC

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NameTitle
Nicole Sheri Adshead-Bell Chief Executive Officer, Director & MD
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Craig Leslie Readhead Non-Executive Director
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