May 15 (Reuters) - Genesis Minerals Ltd (GMD) :
- GENESIS EXECUTED A BINDING AGREEMENT TO AMEND TRANSACTION AGREEMENT
- NO FURTHER ENGAGEMENT WITH SILVER LAKE ON ITS NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL
- GENESIS WILL ISSUE AN ADDITIONAL 5 MILLION SHARES UPFRONT TO ST BARBARA UPON COMPLETION OF TRANSACTION UNDER AMENDED DEAL
- NOTES RECEIPT FROM SILVER LAKE RESOURCES OF REVISED NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL
- SILVER LAKE REVISED PROPOSAL REMOVED CERTAIN CONDITIONS BUT MADE NO CHANGE TO PREVIOUSLY PROPOSED CONSIDERATION
- SILVER LAKE REVISED PROPOSAL DOES NOT DELIVER SUFFICIENT CASH TO CO UP-FRONT TO MEET ITS FUTURE LIQUIDITY REQUIREMENTS
- TRANSACTION RATIONALE AND LEVEL OF SYNERGIES WHICH COULD BE ACHIEVED BY SILVER LAKE SIGNIFICANTLY WEAKER
News: SBM St Barbara Says Genesis Executed Binding Agreement To Amend Transaction Agreement
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