News: DDH Swick Mining Services Says DDH1 To Buy Co For A$115 Mln Enterprise Value

Oct 12 (Reuters) - Swick Mining Services Ltd (SWK) :

• SWICK MINING SERVICES LTD - DDH1 LIMITED TO ACQUIRE SWICK MINING SERVICES FOR A$115 MILLION ENTERPRISE VALUE
• SWICK MINING SERVICES LTD - DEAL FOR EQUITY VALUE OF A$0.35 PER SHARE
• SWICK MINING SERVICES - CO'S SHAREHOLDERS WILL ALSO RECEIVE OREXPLORE SHARES UNDER THE PROPOSED ($12 MILLION SEED FUNDED) OREXPLORE DEMERGER
• SWICK MINING SERVICES - SWICK SHAREHOLDERS WILL OWN 19.7% OF THE COMBINED BUSINESS
• SWICK MINING SERVICES - SWICK BOARD INTENDS TO UNANIMOUSLY RECOMMEND THE PROPOSED TRANSACTION TO SHAREHOLDERS
• SWICK MINING SERVICES - CONFIRMS THAT IT IS PROCEEDING WITH THE OREXPLORE DEMERGER, UNDER WHICH OREXPLORE SHARES WILL BE LISTED ON THE ASX