Business
Silvercorp and OreCorp Enter into Amending Agreement
Silvercorp and OreCorp Enter into Amending Agreement Canada NewsWire Trading ...
About this update from Silvercorp Metals Inc.
[{"type":"text","content":"\n \n \n \n Silvercorp and OreCorp Enter into Amending Agreement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Trading Symbol:\n \n \n TSX:\n \n \n SVM\n \n \n \n NYSE AMERICAN: SVM\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 23, 2023\n \n \n /CNW/ -\n \n \n Silvercorp Metals Inc.\n \n \n \n (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) announces that it has entered into an amendment (the \"Amending Deed\") to the binding scheme implementation deed dated\n \n August 5, 2023\n \n (the \"Agreement\") entered into previously with OreCorp Limited (ASX: ORR) (\"OreCorp\"), whereby Silvercorp agreed to acquire all fully-paid ordinary shares of OreCorp (the \"Transaction\") not held by Silvercorp or its associates (the \"OreCorp Shares\"), pursuant to an Australian scheme of arrangement (the \"Scheme\").\n \n \n \n \n \n \n \n \n \n \n \n As a result of the Amending Deed, each OreCorp shareholder  will now receive, for each OreCorp Share held, an increase in the cash consideration from\n \n A$0.15\n \n to\n \n A$0.19\n \n , (reflecting a 26.7% increase in the cash component), and 0.0967 of a Silvercorp common share (no change), or if elected by OreCorp shareholders and subject to quotation of Silvercorp shares as CDIs on the ASX, 0.0967 of a new Silvercorp CDI.\n \n \n \n \n As of the date of this announcement, Silvercorp holds 72,312,344 OreCorp Shares, representing 15.40% of the fully paid ordinary shares of OreCorp.\n \n \n \n \n \n Board Approvals and Recommendations\n \n \n \n \n \n The OreCorp Board has unanimously approved the Scheme, as revised (\"Revised Scheme\"), and recommends that all OreCorp shareholders vote in favour of the Revised Scheme at the meeting of the shareholders of OreCorp (the \"S...