News Column

Atlantic Gold NL - Merger Update, Federal Court approves calling of Scheme Meeting and Independent Expert issues independent expert's report

June 30, 2014



ENP Newswire - 30 June 2014

Release date- 27062014 - Atlantic Gold NL ABN 82 062 091 909 (ASX: ATV) is pleased to announce that the Federal Court of Australia has today approved the calling of a meeting of Atlantic shareholders to consider and, if thought fit, approve the proposed scheme of arrangement to give effect to the previously announced merger between Atlantic and Spur Ventures Inc. ARBN 600 024 397.

The Scheme Meeting will be held on Thursday, 31 July 2014 at 10:00 am (Sydney time) at Launceston Room, Lower Ground Floor North Wing, The Menzies Hotel, 14 Carrington Street, Sydney.

The Atlantic directors have also resolved to convene an extraordinary general meeting of Atlantic shareholders (EGM) to consider and, if thought fit, approve the proposed sale by Atlantic of all of the outstanding securities on issue in DDV Gold Limited, a wholly-owned Canadian subsidiary of Atlantic, to Spur (DDV Gold Alternative Transaction). The DDV Gold Alternative Transaction will only proceed if Atlantic shareholders (at the Scheme Meeting) or the Court (at the second Court hearing) do not approve the Scheme.

The EGM will be held on Thursday, 31 July 2014 at 11:00 am (Sydney time) or immediately after the Scheme Meeting (whichever is later). Independent Expert concludes that the proposed Scheme is both fair and reasonable and in the best interests of Atlantic shareholders DMR Corporate Pty Ltd ACN 063 564 045 (DMR Corporate) was appointed by the board of directors of Atlantic to report on the Scheme.

DMR Corporate has completed its report and has concluded that, in the absence of a superior proposal, the proposed Scheme is both fair and reasonable and it is therefore in the best interests of the Atlantic shareholders.

Scheme Booklet

A Scheme Booklet containing further information in relation to the Scheme and the DDV Gold Alternative Transaction, together with notices of meeting and proxy forms for the Scheme Meeting and the EGM, is scheduled to be sent to Atlantic shareholders on Monday, 30 June 2014.

The Scheme Booklet will include a full copy of the Independent Expert's Report of DMR Corporate together with background information on the Atlantic directors' unanimous recommendation of the Scheme, in the absence of a superior proposal. Following completion of the 2 meetings to approve the Scheme and the DDV Gold Alternative Transaction, Atlantic will hold its 2014 Annual General Meeting on the same date and at the same venue as those other 2 meetings at 11.30 am (Sydney time) or immediately following the EGM (whichever is later).

Contact:

Wally Bucknell

Managing Director

Atlantic Gold NL

Tel: +61 (0)2 9410 0993

Email: wallybucknell@atlanticgold.com.au


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Source: ENP Newswire


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