News: SBM St Barbara Receives Proposal From Silver Lake In Relation To Sale Of Leonora On 28 April

May 4 (Reuters) - St Barbara Ltd (SBM) :

• NOTES MEDIA RELEASE BY SILVER LAKE RESOURCES REGARDING A NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSA FOR ST BARBARA'S LEONORA ASSETS
• ON THIS LATEST BASIS NET AFTER-TAX VALUE TO ST BARBARA SHAREHOLDERS UNDER TRANSACTION AGREEMENT IS ESTIMATED TO BE A$612 MILLION
• ON 28 APRIL ST BARBARA RECEIVED PROPOSAL FROM SILVER LAKE IN RELATION TO SALE OF LEONORA FOR A$732 MILLION
• ON APRIL 28 CO RECEIVED UNSOLICITED, NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL FROM SILVER LAKE IN RELATION TO SALE OF LEONORA
• NET AFTER-TAX VALUE OF PROPOSAL, AFTER ALLOWING FOR BREAK FEE PAYABLE TO GENESIS, IS ESTIMATED TO BE A$668 MILLION
• ST BARBARA NOTES TRANSACTION AGREEMENT WITH GENESIS REMAINS IN FULL FORCE
• NOT CHANGED ITS UNANIMOUS RECOMMENDATION IN SUPPORT OF SALE OF LEONORA TO GENESIS ON TERMS OF TRANSACTION AGREEMENT
• ST BARBARA WILL NOT BE FURTHER ENGAGING WITH SILVER LAKE IN RESPECT OF NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL
• UNDER PROPOSAL FROM SILVER LAKE, CO POST-TRANSACTION WOULD HAVE SIGNIFICANTLY LESS CASH TO FUND ITS OBLIGATIONS AND REQUIREMENTS
• SILVER LAKE HAS INDICATED EXPECTED COMPLETION OF TRANSACTION UNDER ITS PROPOSAL IN MID TO LATE AUGUST 2023
• ST BARBARA SHAREHOLDERS DO NOT NEED TO TAKE ANY ACTION IN RELATION TO NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL