Event-Driven Daily Briefs | Smartkarma Essential Metals (ESS...

Event-Driven Daily Briefs | Smartkarma

Essential Metals (ESS AU)’s Scheme: Shareholders To Vote On 20 April. MinRes In The Wings?

By David Blennerhassett

• Back on the 9th Jan, small lithium player Essential Metals (ESS AU) entered into a Scheme with Tianqi Lithium JV, comprising Tianqi (9696 HK) (51%) and IGO (IGO AU) (49%).
• The Scheme Booklet is now out, with a Scheme Meeting tabled for the 20 April. The Independent Expert reckons the Scheme Consideration is fair. FIRB is no longer required.
• This is done and has traded tight from the onset.

Essential Metals (ESS AU)'s Scheme: Shareholders To Vote On 20 April. MinRes In The Wings? - David Blennerhassett (smartkarma.com)

Essential Metals (ESS AU)'s Scheme: Shareholders To Vote On 20 April. MinRes In The Wings?

Trading at a relatively attractive gross/annualised spread of 2.0%/17.8%, however, this is not a super liquid arb situation. Now that FIRB is hands-off, a competing proposal (MinRes?) is possible.
E
vent-Driven
103 Views, 21 Mar 2023 02:09