LONDON: Trident Royalties Plc announced the pre-completion meeting for the Pukaqaqa Royalty Package acquisition from Orion Resource Partners has now been held and that completion will occur automatically on Admission of the Consideration Shares.
On 18 December 2020, the Company announced that it had entered into a binding agreement to acquire a package of existing copper royalties over the Pukaqaqa Copper Project in Peru.
The Royalty Package was acquired for total consideration of US$3,000,000 to be satisfied by the issue of 6,878,027 new ordinary shares of 1p each in Trident (“Consideration Shares”) at 32.0314p per Ordinary Share.
Following Admission, Orion will be interested in 11,091,747 Ordinary Shares representing approximately 6.2 per cent. of the Company’s issued share capital.
Settlement and Dealings
Application has been made to the London Stock Exchange Plc for admission to trading on the AIM Market of the 6,878,027 Consideration Shares, which rank pari passu with the Company’s existing issued Ordinary Shares (“Admission”). Dealings on AIM are expected to commence at 8:00am on 9 April 2021.
Total Voting Rights
For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), following Admission, Trident will have 178,102,362 ordinary Shares of 1p each in the capital of the Company in issue with voting rights attached. Trident does not hold any shares in treasury.
This figure of 178,102,362 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the DTRs.
Adam Davidson, Chief Executive Office of Trident commented: “The completion of the acquisition of the Pukaqaqa Royalty Package increases our copper exposure with royalties over a large, long-life asset operated by an established mid-tier miner with deep roots in South America. We are delighted to have completed this transaction with Orion, which continues to demonstrate itself a professional and friendly counterparty, and we look forward to exploring further opportunities to transact with them in the future.” www.tridentroyalties.com