EXG excelsior gold limited
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News: EXG Spitfire Materials & Excelsior Gold To Merge

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    25/06/18
    09:10
    Post #: 33919014

    June 25 (Reuters) - Spitfire Materials Ltd (SPI) :

    • CO & EXCELSIOR GOLD LTD SIGNED MERGER IMPLEMENTATION AGREEMENT TO COMBINE BY WAY OF A COURT-APPROVED SCHEME OF ARRANGEMENT
    • NON-EXECUTIVE CHAIRMAN OF MERGED ENTITY'S BOARD WILL BE CURRENT EXCELSIOR CHAIRMAN DAVID HATCH
    • SPITFIRE SHAREHOLDERS WILL HOLD ABOUT 58.3% OF MERGED ENTITY
    • EXCELSIOR SHAREHOLDERS WILL RECEIVE 1 NEW FULLY- PAID ORDINARY SPITFIRE SHARE FOR ABOUT EVERY 2.208 EXCELSIOR SHARES
    • DEAL VALUES EXCELSIOR SHARES AT ABOUT A$0.0443
    • MERGED ENTITY WILL BE LED BY MANAGING DIRECTOR JOHN YOUNG
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