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Highlights:
Centamin’s acquisition by AngloGold Ashanti has received court approval.
The deal involves both cash and share elements for the full acquisition of Centamin.
Centamin shares will be suspended from trading on major exchanges as part of the acquisition process.
Centamin (LSE:CEY) has announced that its acquisition by AngloGold Ashanti has been approved by the Jersey Court, progressing the planned cash and share deal for the entire share capital of Centamin. The transaction, which was initially outlined in the scheme document published in September 2024, has received full backing from Centamin’s shareholders, who approved it at the shareholder meetings held in October 2024.
As part of the acquisition process, Centamin’s shares will be suspended from trading on the London Stock Exchange and the Toronto Stock Exchange. This suspension is set to take effect on November 21, 2024, for the London Stock Exchange and November 20, 2024, for the Toronto Stock Exchange. Following the suspension, Centamin’s shares will be removed from the official list of the London Stock Exchange, with the cancellation of its listing set for November 25, 2024. In Toronto, Centamin’s shares will be delisted from the Toronto Stock Exchange at 4:30 p.m. (Toronto time) on November 25, 2024.
The acquisition is subject to the finalization of the court order registration, which is expected to occur by November 22, 2024, making the transaction officially effective. The deal will see all Centamin shares transferred to AngloGold Ashanti, marking the end of Centamin’s independence as a publicly traded entity.
This acquisition reflects ongoing consolidation in the mining sector and highlights AngloGold Ashanti’s expansion strategy. Centamin’s shareholders will receive a combination of cash and shares in AngloGold Ashanti as part of the transaction, which is seen as a strategic move within the mining industry.
