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Market Update
Market Update.
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\n19 August 2024\nACG Acquisition Company Limited\n(\"ACG\" or the \"Company\")\nMaRKET UPDATE\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, 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 7 August 2024, ACG also announced the publication of a circular (the \"Circular\") and a notice of extraordinary general meeting of its shareholders (\"EGM Notice\") convening a meeting of the shareholders of ACG (the \"Acquisition EGM\") for the purpose of considering and voting on the adoption of certain resolutions, including, but not limited to, the approval of the Acquisition.\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.\nUPDATE on Acquisition\nThe ACG Management team has been encouraged by strong engagement with its equity story during roadshow meetings conducted to date.\nWhile discussions with investors are ongoing, ACG has decided to extend the book building process for the Placing until 27 August 2024 and to postpone the deadline for redemptions by existing holders of Class A ordinary shares to 1:00 p.m. on 28 August 2024. Completion of the Acquisition, settlement of the Placing and redemption payments are expected on 30 August 2024.\nACG notes that it has received a notification of conversion from a holder of Class B shares into Class A ordinary share...