Business
FINALISATION OF ACQUISITION FUNDING
FINALISATION OF ACQUISITION FUNDING.
About this update from Acg Metals Limited Class A
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT IS NOT INTENDED TO CONSTITUTE, AND SHOULD NOT BE CONSTRUED AS, AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY THE SECURITIES OF THE COMPANY (AS DEFINED BELOW) IN ANY JURISDICTION WHERE IT WOULD BE UNLAWFUL TO DO SO\n29 August 2024\nACG Acquisition Company Limited\n(\"ACG\" or the \"Company\")\nfinalisation of acquisition funding\nBACKGROUND\nOn 18 July 2024, ACG announced that it had agreed the acquisition of the Gediktepe Mine in Türkiye from Lidya Madencilik Sanayi ve Ticaret Anonim Şirketi (the \"Seller\"), a subsidiary of Istanbul-based conglomerate Çalık Holding (the \"Acquisition\").\nOn 7 August 2024, ACG announced the publication of a prospectus (the \"Prospectus\") which had been approved by the U.K. Financial Conduct Authority in relation to the Acquisition and a related equity placing (the \"Placing\").\nOn 23, 27 and 28 August 2024, ACG announced updates to the funding structure for the Acquisition and corresponding timeline to completion.\nThe Prospectus, the EGM Notice and the Circular are available on the Company's website at www.acgcorp.co, subject to certain access restrictions. Capitalised terms not otherwise defined in this announcement have the meaning set forth in the Prospectus.\nfinalisation of acquisition funding\nACG is pleased to announce the finalisation of funding for the Acquisition following the conclusion of book-building for the Placing. The Acquisition is fully funded as follows:\n· $31.5 million in total equity commitments from ACG's Co-Sponsors and Traxys;\n· $37.5 million in gold prepay debt facility underwritten by Traxys and ACG's Co-Sponsors;\n· $7.5 million in equity commitment from global commodities group Glencore; and\n· $7.25 million in equity commitment from the Placing.\nThe upfront cash consideration for the Acquisition has been reduced from US$85 million to US$84 million by virtue of a reduction in the Target Working Capital by a further US$1 million.\nAs of the closing of the Acquisition, Polimetal Madencilik Sanayi ve Ticaret A.Ş., the target...