Saracen Mineral Holdings Limited (ASX: SAR) and Northern Star Resources Ltd (ASX: NST) are pleased to announce that the Supreme Court of Western Australia ('Court') has today made orders approving the scheme of arrangement by which Northern Star will acquire all of the shares in Saracen ('Scheme').
Lodgement of Court Orders and Suspension of Trading
It is expected that Saracen will lodge a copy of the Court's orders with the Australian Securities and Investments Commission tomorrow, Wednesday, 3 February 2021, at which time the Scheme will become legally effective. If this occurs, Saracen's shares will be suspended from trading on the ASX at the close of trading tomorrow.
Scheme Timetable
The key dates expected for the Scheme are set out below
Effective Date Wednesday, 3 February 2021
Special Dividend Record Date 7:00pm AEDT Wednesday, 3 February 2021
Scheme Record Date 7:00pm AEDT Friday, 5 February 2021
Special Dividend Payment Date Thursday, 11 February 2021
Implementation Date Friday, 12 February 2021
New Northern Star Shares commence trading on ASX on T+2 basis Monday, 15 February 2021
Saracen and Northern Star will continue to update shareholders as to any material developments in relation to the Scheme as the timetable progresses. Authorised for release to the ASX by Bill Beament, Executive Chair (NST) and Raleigh Finlayson, Managing Director (SAR).
Contact:
Rebecca Ciotti
Tel: +61 8 6188 2100
Email: info@nsrltd.com
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