After Genesis Minerals (GMD AU) tabled a “superior” cash/scrip Offer, via a Scheme, for Vault Minerals (VAU AU) on the 6th July, Regis Resources (RRL AU) folded its tent (as widely expected).
Genesis subsequently firmed terms on the 14th July, offering 0.7629 new GMD shares for every Vault share, plus A$0.475/share in cash - for an implied Offer consideration of A$5.274/share.
The Scheme Booklet is now out, with a 11th November Scheme Meeting, and expected implementation on the 25th November. The IE (BDO) concluded “ fair and reasonable“. Clean deal.
The Trade:
Trading at terms.
This is done.
If you can take down borrow cheaply in Genesis, do so, if not already.