Chatham Rock Phosphate Ltd. (formerly Antipodes Gold Ltd.) has completed the acquisition of 93 per cent of the issued shares of Chatham Rock Phosphate (N.Z.) Ltd. (formerly Chatham Rock Phosphate Ltd.) pursuant to its takeover offer under the (New Zealand) Takeovers Code. The company has issued a total of 11,439,200 postconsolidated common shares in exchange for such shares.
In addition, the company has issued 379,215 mandatory warrants to the former holders of mandatory warrants in Chatham N.Z. Each mandatory warrant requires the holders to acquire one postconsolidated common share of the company at a price of 42 cents per share on or before April 17, 2017.
The company expects to complete the acquisition of the remaining 7 per cent of the issued Chatham N.Z. shares within approximately three weeks. These acquisitions will be completed either pursuant to processing additional acceptances of the offer received by the company from the remaining Chatham N.Z. shareholders or by way of compulsory acquisition procedures under the provisions of the (New Zealand) Takeovers Code.
The company has also issued a total of 278,359 postconsolidated shares pursuant to the debt settlement agreements announced by the company on Jan. 16, 2017. These shares are subject to a hold period expiring four months and one day following the date of issuance.
The company also announces the reconstitution of its board of directors and officers. Simon Henderson, Peter Liddle and Adrian Fleming have resigned their positions as directors and/or officers of the company, and Robert Goodden, Robin Falconer, Linda Sanders and Jill Hatchwell have been appointed as new directors. The company thanks Mr. Henderson, Mr. Liddle and Mr. Fleming for their many years of service to the company.
Christopher Castle has been appointed as the company’s new president, chief executive officer and managing director, and Robyn Hamilton has been appointed as the company’s new chief financial officer.
Further information with respect to the business of the company, as well as its new board and management, can be found in the company’s filing statement dated Nov. 10, 2016, available for review under the company’s profile at SEDAR.
