Scheme Becomes Effective
Saracen Mineral Holdings Limited (ASX:SAR) and Northern Star Resources Ltd (ASX:NST) are pleased to announce that Saracen has today lodged with the Australian Securities and Investments Commission (ASIC) a copy of the orders of the Supreme Court of Western Australia (“Orders”) approving the scheme of arrangement pursuant to which Northern Star will acquire all of the shares in Saracen (“Scheme”). As a result, the Scheme is now legally effective.
A copy of the Orders as lodged with ASIC is included as Appendix 1 to this announcement.
Suspension of Trading
Saracen shares will be suspended from trading on the ASX at the close of trading today, Wednesday, 3 February 2021. Scheme Consideration Saracen shareholders who hold shares at the Scheme record date, being 7:00pm AEDT on Friday, 5 February 2021 (“Scheme Record Date”), will receive scrip consideration of 0.3763 new Northern Star shares for every 1 Saracen share held at the Scheme Record Date (“Scheme Consideration”).
It is expected that the Scheme will be implemented, and the Scheme Consideration will be paid to Saracen shareholders, on Friday, 12 February 2021
