News: SAR Northern Star Resources And Saracen Agree To A Merger

Oct 6 (Reuters) - Northern Star Resources Ltd (NST) :

• NORTHERN STAR AND SARACEN AGREE TO A MERGER
• SARACEN SHAREHOLDERS TO RECEIVE 0.3763 NEW FULLY PAID ORDINARY SHARES IN NORTHERN STAR FOR EACH SARACEN SHARE HELD
• TARGETING PRODUCTION OF 2MOZPA FROM THREE TIER-1 PRODUCTION CENTRES BY FY27
• BOARD WILL COMPRISE 5 DIRECTORS FROM NORTHERN STAR AND 4 DIRECTORS FROM SARACEN
• BILL BEAMENT TO BE EXECUTIVE CHAIR OF MERGED GROUP THROUGH TRANSITIONAL PERIOD
• POST-COMPLETION OF SCHEME, SARACEN SHAREHOLDERS WILL OWN 36.0% OF MERGED GROUP
• DEAL UNANIMOUSLY RECOMMENDED BY SARACEN BOARD
• MERGED GROUP TO CONTINUE AS NORTHERN STAR RESOURCES & TRADE ON ASX
• DEAL UNANIMOUSLY ENDORSED AND SUPPORTED BY NORTHERN STAR BOARD
• RALEIGH FINLAYSON TO BE MANAGING DIRECTOR
• SARACEN SHAREHOLDERS WILL ALSO BE PAID A SPECIAL, FULLY FRANKED DIVIDEND OF A3.8¢ PER SARACEN SHARE
• PRE-TAX SYNERGIES ALONE ARE EXPECTED TO BE WORTH IN ORDER OF A$1.5 TO A$2.0 BLN OVER NEXT 10 YEARS
• STUART TONKIN WILL BE CEO AND MORGAN BALL WILL BE CFO OF MERGED CO