Email I got from AustralianSuper yesterday afternoon.
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Dear AustralianSuper Member,
Please note the following important announcement regarding your Alacer Gold Corp. (ASX Code: AQG) held within Member Direct.
On 2 June 2020, AQG announced a proposal to merge with SSR Mining INC (SRR) which is listed on the Toronto Stock Exchange (Canada) and NASDAQ (USA).
If the merger is approved at the general meeting of shareholders held on 10 July 2020, shareholders will receive SSR shares with the company a planning to either list on the ASX via a Chess Depositary Interest (CDI), or to list on the Toronto and NASDAQ exchanges.
If Foreign Exempt Listing is approved allowing SSR to be listed on the ASX - AQG CDI holders will receive 0.3246 SSR CDIs for each AQG CDI held. Although, this is not a condition of the arrangement and no date has been disclosed of when this will occur.
If the Foreign Exempt Listing is not approved, AQG CDI holders will receive 0.3246 SSR Common shares (listed on the Toronto Stock Exchange and NASDAQ) for each AQG CDI held.
Due to the nature of the merger and the potential for members to hold shares on a foreign exchange, AustralianSuper has decided that all AQG units held within Member Direct must be sold prior the general meeting.
AQG shareholders within Member Direct have until market close on 6 July 2020 to sell their AQG shares. Any AQG shares held after this time will be sold on your behalf by AustralianSuper at the applicable market price, net cash proceeds will be paid into your transaction account and standard brokerage fees will apply.
For more information, you can access the Company’s website at www.alacergold.com or the ASX website at www.asx.com.au. We’re here to help
If you have any questions, email us at www.australiansuper.com/email or call 1300 300 273 8.00am to 8.00pm AEST/AEDT weekdays.
Your Sincerely, AustralianSuper Administration
AQG Price at posting:
$8.44 Sentiment: None Disclosure: Not Held
