07 May 2021 (Last Updated May 7th, 2021 10:12)
China’s Ganfeng Lithium has offered to acquire the shares it does not already own in Bacanora Lithium for $264.5m.
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Ganfengwill intends to acquire the remaining shares in Bacanora at 67.5p per share. Credit: Khusen Rustamov from Pixabay.
Bacanora’s independent directors, who consider Ganfeng’s offer as ‘attractive’, intend to recommend the deal to shareholders once it becomes a formal proposal. The possible deal would be subject to Chinese authorities’ approval.
According to the latest offer, Ganfeng will acquire the remaining shares in Bacanora at 67.5p per share. The deal values Bacanora Lithium at up to £267m.
FOR IMMEDIATE RELEASE THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE CODE ). THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, EVEN IF THE PRE-CONDITIONS IN THIS ANNOUNCEMENT ARE SATISFIED.
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TRADING UPDATES: 1Spatial expects full-year results ahead of forecasts
Mon, 1st Mar 2021 15:34
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
1Spatial PLC - Cambridge-based location data software provider - Expects to report solid progress in financial year ended January 31, with results ahead of current market expectations due to a robust performance in the second half of the year. Says revenue for the year expected to be in excess of GBP24 million - versus GBP23.4 million in the 2020 financial year - with adjusted earnings before interest, taxes, depreciation and amortisation to be in excess of the GBP3.2 million posted for the 2020 year. The board is confident that the group s progress over the last year is set to continue in the coming year. Nevertheless, the board remains cautious in managing potential risks resulting from the Covid-19 pandemic, 1Spatial says.
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