May 10 (Reuters) - Allkem Ltd (AKE) : ALLKEM AND LIVENT TO...

May 10 (Reuters) - Allkem Ltd (AKE) :

• ALLKEM AND LIVENT TO MERGE
• ALL-STOCK MERGER OF EQUALS
• ALLKEM SHAREHOLDERS TO RECEIVE RIGHT TO ONE SHARE OF A NEW PUBLIC HOLDING COMPANY FOR EACH SHARE
• LIVENT SHAREHOLDERS TO RECEIVE 2.406 SHARES OF NEWCO FOR EACH EXISTING LIVENT SHARE
• TRANSACTION IS EXPECTED TO CLOSE BY END OF CALENDAR YEAR 2023
• POST TRANSACTION NEWCO OWNERSHIP SPLIT WILL BE 56% TO ALLKEM SHAREHOLDERS
• IMPLIED COMBINED GLOBAL MARKET CAPITALIZATION OF MERGED CO $10.6BN BEFORE SYNERGIES
• PETER COLEMAN TO BE CHAIRMAN OF A NEW PUBLIC HOLDING COMPANY
• PAUL GRAVES TO BE CEO AND DIRECTOR, AND GILBERTO ANTONIAZZI TO BE CFO OF NEW PUBLIC HOLDING CO
• NEWCO BOARD TO HAVE 14 MEMBERS, CONSISTING OF 7 DIRECTORS DESIGNATED BY LIVENT AND 7 DIRECTOR DESIGNATED BY ALLKEM
• NEWCO TO HAVE PRIMARY LISTING ON NYSE
• AUSTRALIA COURT APPROVAL ALSO REQUIRED FOR ALLKEM SCHEME OF ARRANGEMENT