News: ORR Silvercorp Announces Takeover Offer For OreCorp

Dec 26 (Reuters) - Silvercorp Metals Inc SVM.TO :

• SILVERCORP ANNOUNCES TAKEOVER OFFER FOR ORECORP
• SILVERCORP METALS INC: OFFERS TO ACQUIRE ALL ORECORP SHARES IT DOES NOT ALREADY OWN FOR A$0.19 CASH PLUS 0.0967 SILVERCORP SHARES PER ORECORP SHARE
• SILVERCORP METALS INC - ORECORP BOARD IS UNANIMOUSLY RECOMMENDING ORECORP SHAREHOLDERS ACCEPT OFFER IN ABSENCE OF A SUPERIOR PROPOSAL
• SILVERCORP METALS- AS WITH SCHEME, UNDER SOME CIRCUMSTANCES BREAK FEE OF ABOUT A$2.8 MILLION WILL BE PAYABLE BY ORECORP TO SILVERCORP IF BID IS TERMINATED
• SILVERCORP METALS - CO AND ORECORP HAVE MUTUALLY AGREED TO TERMINATE SCHEME IMPLEMENTATION DEED DATED AUGUST 5, 2023 WITH EFFECT FROM DEC 26
• SILVERCORP METALS INC - OFFER IS SUBJECT TO MINIMAL CONDITIONS, INCLUDING SILVERCORP HAVING A RELEVANT INTEREST IN AT LEAST 50.1% OF ORECORP SHARES