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ADT - ADRIATIC METALS PLC


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  • 1 year later...

late Jan 2020 ADT was $1.60 ; for a month or 2 it dropped a bit, but yesterday closed at $3.33

 

Sandfire Resources intends to sell its entire holding in Adriatic Metals through a secondary sale of up to 34.6 million CHESS depositary interests (representing ordinary shares).

 

The sale will be implemented at $2.80 per share, representing a discount of approximately 15.9 per cent to the Adriatic closing price on 12 October. This will see Sandfire receive about $97 million in gross proceeds.

 

The transaction will be conducted as a placing to institutional investors through an accelerated bookbuild to be carried out by Canaccord Genuity, RBC Europe and Stifel Nicolaus Europe.

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