Latin Resources (LRS AU)'s Scheme With Pilbara Minerals

Sep 16, 2024

∙ Paid

Back on the 15th August, lithium play Latin Resources (LRS AU) entered into a Scheme with significantly larger peer, Pilbara Minerals (PLS AU). Timing appears fortuitous.
PLS is offering 0.07 new PLS shares for each LRS share held. LRS shareholders will own ~6.4% of the combined entity. LRS' largest shareholder, José Luis Manzano (7.9%), is supportive.
The scrip terms back out an implied price of A$0.20/share or a 67% premium to last close. This is done. And trading accordingly. Expected implementation late November, early December.

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