CZI
Cassini Resources Limited (ASX:CZI) (Cassinior Company) is pleasedto advise thatthe scheme of arrangement pursuant to which OZ Minerals Limited (OZ Minerals) will acquire 100% of the shares in Cassini (Acquisition Scheme) has been implemented.
AllCassini shares have been transferred to OZ Minerals. The Acquisition Scheme consideration, comprising OZ Minerals shares, has been issued to Cassinishareholders, other than ineligible foreign shareholders and small shareholders who did not make an election (Non-Electing Small Shareholders).
Ineligible foreign shareholders and Non-Electing Small Shareholderswill have the Acquisition Scheme consideration that they would have otherwise been entitled to receive issued to a sale agent who will then sell those OZ Minerals shares and remit the proceeds (if any) to those shareholders.
An application has been made to remove Cassini from the official list of ASX as at the close of trade on 5 October 2020 or as soon as practicable thereafter.
Cassini Resources Limited (ASX:CZI) (Cassinior Company) is pleased to advise that a copy of the orders made by the Supreme Court of Western Australia approving the schemes of arrangement pursuant to which:
(a)OZ Minerals Limited (ASX: OZL) (OZ Minerals) will acquire 100% of the shares in Cassini (Acquisition Scheme); and
(b)Caspin Resources Limited (Caspin), a wholly owned subsidiary of Cassini, will be demerged from Cassini by way of a capital reduction which will result in 100% of the shares in Caspin being distributed to Cassini shareholders (Demerger Scheme),
have been lodged with the Australian Securities and Investments Commission.
This means that the Acquisition Scheme and the Demerger Scheme have become legally effective. A copy of the orders is attached to this announcement.
Pursuant to the Acquisition Scheme, Cassini shareholders (other than ineligible foreign shareholders and small shareholders who did not make an election (Non-Electing Small Shareholders)) who hold shares at 5:00pm(AWST) on 28 September 2020will be issued1
OZ Minerals share for every 68.5 Cassini shares held.
Ineligible foreign shareholders and Non-Electing Small Shareholders will have the Acquisition Scheme consideration that they would have otherwise been entitled to receive issued to a sale agent who will then sell those OZ Minerals shares and remit the proceeds (if any) to those shareholders.
Pursuant to the Demerger Scheme, Cassini shareholders (other than ineligible foreign shareholders) who hold shares at 5:00pm (AWST) on 28 September 2020 will be issued 1 Caspin share for every 22Cassini shares held and a cash distribution of A$0.01 per Cassini share. Ineligible foreign shareholders will be paid the cash distribution but will have the Caspin shares that they would have otherwise been entitled to receive issued to a sale agent who will then sell those Caspin shares and remit the proceeds (if any) to those shareholders.
Therefore one CZI share gets :
(1 / 68.5) OZL share
(1 / 22 ) Caspin share plus A$0.01
oh how much fun this is not going to be implemented