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Asiamet Assets Restricted (AIM: ARS) is happy to announce that it has reached an settlement to promote its curiosity within the KSK Undertaking to Norin Mining (Hong Kong) Restricted for gross money consideration of US$105 million (roughly £81 million).
Transaction Highlights
- Asiamet has entered right into a conditional sale and buy settlement with Norin Mining to promote its curiosity within the KSK Undertaking for gross consideration of US$105 million on a cash-free, debt-free foundation.
- The sale introduces a well-funded copper producer with specialist expertise in copper mine improvement and processing coupled with high-ESG requirements, to advance the Undertaking into mining operations for the good thing about all stakeholders.
- The sale follows the Firm’s complete and aggressive two-phase strategic evaluation course of carried out with a number of well-qualified counterparties.
- The sale is binding, topic to satisfying sure circumstances precedent, together with Shareholder approval and regulatory approvals.
- The Board unanimously recommends that Shareholders vote in favour of the Disposal Decision.
- Shareholders representing, in mixture, 53.3 per cent. of Asiamet’s issued share capital have irrevocably undertaken (topic to sure circumstances) to vote in favour of the Disposal Decision.
- The Board presently expects that the online proceeds obtained from the sale shall be considerably utilised to impact a money distribution to Shareholders following Completion.
Because of the scale of the Disposal relative to Asiamet, the transaction is deemed a basic change of enterprise of the Firm for the needs of Rule 15 of the AIM Guidelines and is subsequently conditional upon the approval of Shareholders. Such approval might be sought on the Common Assembly to be held at Fowl & Fowl LLP, 12 New Fetter Lane, London EC4A 1JP at 10.00 a.m. on 29 January 2026. The Firm advises that it has right now posted to Shareholders the Round, along with a discover convening the Common Assembly and Type of Proxy, to vote on the proposed resolutions.
Additional particulars of the proposals are set out within the extract from the Round set out beneath, together with the anticipated timetable of principal occasions and definitions. Shareholders are strongly inspired to learn the Round in full, which can shortly be accessible on the Firm’s web site www.asiametresources.com.
Tony Manini, Chair of Asiamet, commented:
“This can be a landmark transaction for Asiamet and its shareholders. The sale of our curiosity within the KSK Undertaking to Norin Mining represents the fruits of a few years of labor to advance this asset to a stage the place it is able to be developed into an working mine by a well-capitalised and technically succesful copper producer. The Asiamet Board considers the agreed worth pretty displays the present stage, high quality and potential of the undertaking and delivers a powerful return for our shareholders.“
Advisers and Counsel
Grant Samuel is performing as lead monetary adviser and A&O Shearman is performing as authorized adviser to Asiamet.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Chair
For additional info, please contact:
Tony Manini
Chair, Asiamet Assets Restricted
E mail: tony.manini@asiametresources.com
Darryn McClelland
Chief Government Officer, Asiamet Assets Restricted
E mail: darryn.mcclelland@asiametresources.com
Investor Enquiries
Sasha Sethi
Phone: +44 (0) 7891 677 441
E mail: Sasha@flowcomms.com / information@asiametresources.com
Nominated & Monetary Adviser
Strand Hanson Restricted
James Spinney / James Dance / Rob Patrick
Phone: +44 20 7409 3494
E mail: asiamet@strandhanson.co.uk
Dealer
Shore Capital
Toby Gibbs / George Payne
Phone: +44 20 7408 4050
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