News: AWC Alumina Recommends Shareholders Vote In Favour Of Alcoa Transaction

March 12 (Reuters) - Alumina Ltd (AWC) :

• ALUMINA ENTERS INTO BINDING SCHEME IMPLEMENTATION DEED-AWC.AX
• ENTERED INTO A SCHEME IMPLEMENTATION DEED WITH ALCOA CORPORATION
• ELIGIBLE ALUMINA SHAREHOLDERS WILL BE ENTITLED TO RECEIVE 0.02854 SHARES OF ALCOA COMMON STOCK FOR EACH ALUMINA SHARE HELD
• ALCOA HAS AGREED TO ESTABLISH A FOREIGN EXEMPT LISTING ON AUSTRALIAN SECURITIES EXCHANGE
• RECOMMEND THAT ALUMINA SHAREHOLDERS VOTE IN FAVOUR OF TRANSACTION
• FOREIGN EXEMPT LISTING WOULD ENABLE ALUMINA SHAREHOLDERS TO TRADE SHARES OF ALCOA COMMON STOCK VIA CDIS ON ASX
• SID INCLUDES CERTAIN CIRCUMSTANCES IN WHICH A BREAK FEE OF US$22 MILLION WOULD BE PAYABLE TO ALCOA
• ALUMINA SHAREHOLDERS TO VOTE AT SCHEME MEETING WHICH IS TARGETED TO BE HELD IN 3Q 2024
• SCHEME IS EXPECTED TO BE IMPLEMENTED BY 3Q 2024

(([email protected];))