Latin Resources (LRS AU)'s Scheme: Minor Delay, Not Deal Related
On the 15th August, lithium play Latin Resources (LRS AU) entered into a Scheme with Pilbara Minerals (PLS AU). PLS is offering 0.07 new PLS shares for every LRS share.
The scrip terms back out an implied price of A$0.20/share or a 67% premium to last close. Expected implementation was late November, early December; now January / February 2025.
My back & forth with both Pilbara and Latin indicate the booklet had to be delayed to reflect Pilbara's recently adjusted FY25 guidance.
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