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SunMirror AG — M&A Activity 2022
Feb 24, 2022
9340_iss_2022-02-24_86f87e23-bbe5-41b0-bbc9-091058fae32b.pdf
M&A Activity
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EQS-Ad-hoc: SunMirror AG / Key word(s): Offer/Capital Increase
SunMirror AG: Extension of Offer for Takeover Offer on Latitude 66 Cobalt Limited due to delay in capital increase
24-Feb-2022 / 19:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Zug, Switzerland: 24 February 2022. SunMirror AG ("SunMirror"; ISIN CH0396131929) hereby announces its wholly-owned subsidiary SunMirror Luxembourg S.A. will file with the Australian Securities and Investments Commission a supplement to its bidder statement in relation to the pending takeover offer regarding all outstanding ordinary shares in Latitude 66 Cobalt Limited ("Lat66") by which the closing date of the takeover offer is further extended to 29 March 2022, 5:00 p.m. (AWST) and the date for giving a notice of the status of the bid conditions is further extended to 22 March 2022.
This extension is caused by a delay in the implementation of the pending EUR 70 million share capital increase of SunMirror AG (see prior ad-hoc notifications, e.g., dated 22 October 2021, 26 August 2021 and 7 January 2021). The shareholder who has subscribed for the full amount of the share capital increase of EUR 70 million has to date paid in EUR 17,368,500. The shareholder has confirmed he is intending to meet his obligations and pay in the remaining funds. SunMirror is also taking steps to secure alternative funding to complete the Lat66 acquisition.
Under consideration of the upcoming extension of the takeover offer, the expected extended timetable for completion of the takeover offer and subsequent acquisition of the entire issued share capital of Lat66 (plus all performance rights) is as follows:
| Offer Closes | 29 March 2022 |
|---|---|
| Dispatch of compulsory acquisition notices to non-accepting Lat66 shareholders | 29 March 2022 |
| Completion of compulsory acquisition of Lat66 shares from Lat66 shareholders | 29 April 2022 |
Information and Explanation of the Issuer to this News:
About SunMirror AG
The Group invests into strategic mineral exploration assets with a focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as iron ore and gold deposits in developed markets. The company aims to either produce minerals at a later stage or sell those assets to strategic buyers. SunMirror is differentiated by taking a 'mine-to-market' approach to sustainability across the value chain, creating a mining industry 'best practice.'
The company's shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (official market, ticker: ROR1) and are traded on the regulated unofficial markets Frankfurt, Düsseldorf and Berlin (ticker: ROR) as well as on tradegate and Xetra. For further information, please visit: www.sunmirror.com.
Contact
SunMirror AG
Steinhauserstrasse 74
6300 Zug
Switzerland
Tel: +41 (0) 43 505 1400
Email: [email protected]
24-Feb-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com
Language: English
Company: SunMirror AG
Steinhauserstrasse 74
6300 Zug
Switzerland
E-mail: [email protected]
Internet: https://www.sunmirror.ch
ISIN: CH0396131929
WKN: A2JCKK
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Tradegate
Exchange; Vienna Stock Exchange (Official Market)
EQS News ID: 1288219
End of Announcement
EQS News Service