The consideration of A$0.030 (GBP0.016)1 per share represents a 76% premium to the 20-day
volume weighted average price of Celsius shares as of the close of trading on the ASX on 11 May
2023 (86% premium by similar reference to the trading price on AIM). The implied value of the
proposed acquisition (should it proceed) is approximately A$56 million (GBP 30.2 million)
Using Silvercorp’s current share price of CA$4.64 (A$5.142) as of the close of trading of Silvercorp shares
on TSX on 12 May 2023, the proposed acquisition will result in Silvercorp issuing approximately 9.7
million Silvercorp shares and A$5.6 million to the shareholders of Celsius.
Concurrent to the proposed acquisition, should it proceed, it is anticipated that Celsius shareholders
will, via an in specie distribution, receive shares in a new exploration company (the “SpinCo”) which
will hold all of Celsius’ rights and interests with respect to the Sagay (Philippines) and Opuwo Cobalt
(Namibia) projects via a demerger, subject to Celsius obtaining the necessary shareholder and
regulatory approvals. Should the demerger proceed, the SpinCo shares are anticipated to be
distributed on a 10 Celsius shares for 1 SpinCo share basis to Celsius shareholders, who taking into
account the proposed investment into Spinco referred to below, will hold approximately 87% of
Spinco. SpinCo will seek listing on the Australian Securities Exchange (“ASX”) or on AIM, a market
operated by the London Stock Exchange, via the demerger and concurrent initial public offering.
Silvercorp has agreed, under the non-binding term sheet, to invest A$4 million in SpinCo, valued at a
post-financed market capitalisation of A$30 million.
Make it binding and clean. This previous offer had too many conditions and was complicated plus a raise that gave SVM the upperhand.
What is the 20 day VWAP now?
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Last
1.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $33.99M |
Open | High | Low | Value | Volume |
1.4¢ | 1.4¢ | 1.3¢ | $10.59K | 788.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 1587186 | 1.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.4¢ | 6101003 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 1587186 | 0.013 |
6 | 3875835 | 0.012 |
9 | 3282211 | 0.011 |
11 | 2868999 | 0.010 |
5 | 3181630 | 0.009 |
Price($) | Vol. | No. |
---|---|---|
0.014 | 6101003 | 4 |
0.015 | 2063000 | 5 |
0.016 | 7067276 | 11 |
0.017 | 971858 | 3 |
0.018 | 2550349 | 6 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
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