News: WSA IGO Says Co And Western Areas Agree To Amend Scheme Of Arrangement

April 11 (Reuters) - IGO Ltd (IGO) :

• IGO AND WESTERN AREAS AGREE TO AMEND SCHEME OF ARRANGEMENT (CORRECTS SOURCE TO 'IGO' FROM 'WESTERN AREAS')
• REVISED SCHEME CONSIDERATION RECOGNISES ADDITIONAL FINANCIAL VALUE GENERATED BY WSA AS A RESULT OF HIGHER NICKEL PRICES
• AMENDED SCHEME HAS BEEN UNANIMOUSLY RECOMMENDED BY WSA BOARD OF DIRECTORS
• REVISED SCHEME CONSIDERATION OF A$3.87 PER WSA SHARE
• SEES AMENDED SCHEME EXPECTED TO BE FREE CASH FLOW ACCRETIVE FROM FY24
• IGO'S FUNDING STRUCTURE FOR AMENDED SCHEME REMAINS UNCHANGED
• REVISED SCHEME CONSIDERATION IMPLIES A VALUE OF A$1,263 MILLION FOR WSA ON A FULLY DILUTED BASIS
• IGO WILL FUND AMENDED SCHEME THROUGH A COMBINATION OF A NEW A$900 MILLION SENIOR-SECURED DEBT FACILITY

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