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Highlights:
Centamin PLC has announced the issuance of 20,334,280 new ordinary shares under its shareholder-approved incentive plan.
These shares will be issued to participants upon the successful sanction of the company’s acquisition by AngloGold Ashanti, through a court-sanctioned scheme of arrangement.
An application has been made for the listing of these shares on the London Stock Exchange (LSE), with admission expected on November 20, 2024.
Centamin PLC (LSE:CEY) has issued a notice regarding the proposed issuance of 20,334,280 ordinary shares, following the recommended acquisition by AngloGold Ashanti. The acquisition is expected to be completed through a court-sanctioned scheme of arrangement under Jersey Companies Law, which is subject to approval by the Royal Court of Jersey. The shares will be issued to satisfy awards under Centamin’s shareholder-approved incentive plan, known as the Centamin Share Incentive Plan.
These newly issued shares will rank pari passu with the existing ordinary shares of Centamin. Following the court’s approval of the acquisition, the trustee of the Centamin Share Incentive Plan will allocate the vested awards to the participants in line with the terms of the plan. This move is part of the process of finalizing the acquisition of Centamin by AngloGold Ashanti.
Centamin has also applied to the Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) for the admission of these new shares to the Official List and to commence trading on the LSE. The admission of the shares is scheduled for 8:00 AM GMT on November 20, 2024. Upon this admission, Centamin’s total issued share capital will increase to 1,181,416,975 ordinary shares, with each share carrying one voting right.
This issuance and the subsequent listing are key steps in Centamin’s ongoing acquisition process by AngloGold Ashanti. The move reflects the company's commitment to fulfilling its obligations under the Centamin Share Incentive Plan and aligning with the planned acquisition. For further information on the share incentive plan, details are available in Centamin’s 2023 Annual Report and Accounts.
