Bradken announced today that it has received written notice from a consortium of Sigdo Koppers and CHAMP Private Equity (“the Consortium”) formally terminating merger discussions between the Maggotteaux Group and Bradken.
For the purposes of the Investment Agreement governing the redeemable convertible preference shares (“RPS”), the Merger Termination Date is 5 September 2015 and the conversion period expires on 31 December 2016.
The commercial terms of the RPS remain unchanged.
A full copy of the Investment Agreement and RPS Terms was included in Bradken’s announcement of 1 July 2015.
BKN Price at posting:
$1.18 Sentiment: Buy Disclosure: Held
