This looks like scare tactics into you approving them
Diatreme’s Intentions and potential implications for Metallica Shareholders who do not accept the Offer The Board of Diatreme wishes to advise and confirm the following: • Metallica Shareholders who do not accept the Offer prior to the close will not receive the consideration under the Offer, unless Diatreme is entitled to proceed to compulsory acquisition (in which case they will receive the consideration, but later than if they accepted the Offer). • If Diatreme does not reach the compulsory acquisition threshold by the close of the Offer, Metallica shareholders who do not accept the Offer will remain minority shareholders in Metallica. If Metallica continues to be listed on the ASX following the Offer, the decrease in the number of Metallica shares available for trading may have a material adverse impact on their liquidity and trading price. • As indicated in its Bidder’s Statement dated 28 March 2024, Diatreme intends to seek to remove Metallica from the ASX (to de-list Metallica), subject to the relevant ASX guidelines and other relevant considerations. In that event, it will likely become materially more difficult for Metallica shareholders to sell their Metallica shares as they would no longer be traded on the ASX. 1 • If Diatreme does not reach the compulsory acquisition threshold by the close of the Offer, remaining minority shareholder in Metallica who do not, or are unable to, participate in any future equity raising by Metallica would be diluted.
MLM Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
