News Column

Atlantic Gold NL - Federal Court of Australia approves scheme of arrangement

August 8, 2014



ENP Newswire - 08 August 2014

Release date- 07082014 - Atlantic Gold NL ABN 82 062 091 909 (ASX: ATV) is pleased to announce that the Federal Court of Australia has today made orders approving the scheme of arrangement between Atlantic and its shareholders, under which it is proposed that Spur Ventures Inc. ARBN 60 024 397 will acquire all of the ordinary shares on issue in Atlantic.

The Federal Court's approval of the Scheme follows approval of the Scheme by Atlantic shareholders by the requisite majorities at the Scheme meeting held on 31 July 2014.

The orders of the Federal Court approving the Scheme are expected to be lodged with the Australian Securities and Investments Commission on Thursday, 7 August 2014, at which time the Scheme will become legally effective.

The implementation date for the Scheme is expected to be Thursday, 21 August 2014 and the Scheme consideration, comprising either Spur common share CDIs and Spur share purchase warrant CDIs quoted on the Australian Securities Exchange (ASX) or Spur common shares and Spur share purchase warrants quoted on the TSX Venture Exchange (TSXV), is expected to be issued to Atlantic shareholders on Thursday, 21 August 2014.

As set out in the scheme booklet prepared by Atlantic dated 26 June 2014, persons who are recorded on the Atlantic share register as the holder of either fully paid or partly paid ordinary shares in Atlantic at 5:0 pm (Sydney time) on Thursday, 14 August 2014 may elect to receive Scheme consideration in the form of new Spur common shares and new Spur share purchase warrants which are listed on TSXV and which can only be traded on TSXV, instead of Spur common share CDIs and Spur share purchase warrant CDIs which are quoted on ASX and which can only be traded on ASX.

If an Atlantic shareholder does not make an election, he/she will be deemed to have elected to receive Spur common share CDIs and Spur share purchase warrant CDIs. If an Atlantic shareholder wishes to make this election, he/she should contact the Atlantic share registry on 130 850 505 (within Australia) and +61 (0) 3 9415 400 (outside Australia) and ask them to provide an election form.

The Atlantic shareholder should then complete and return the election form in accordance with the instructions on that form. The deadline for receipt of election forms is by 5:0pm (Sydney time) on Thursday 14 August 2014.

As the Federal Court of Australia has approved the Scheme, the proposed sale by Atlantic of its wholly-owned Canadian subsidiary, DDV Gold Limited, to Spur which was approved by Atlantic shareholders at the Extraordinary General Meeting held on 31 July 2014 will not proceed.

Contact:

Wally Bucknell

Managing Director

Atlantic Gold NL

Tel: +61 (0)2 9410 093

Email: walybucknel@atlanticgold.com.au


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters