Bendigo and BCD to merge to create a new mid-tier Australian gold producer
Friday, 23 July 2010 03:23
Bendigo Mining Limited (Bendigo) and BCD Resources NL (BCD) announce that they have entered into a Scheme Implementation Agreement (SIA) for a merger of the companies to create a significant mid-tier Australian gold mining business (the Merger).
The Merger will be implemented by way of a scheme of arragement under which it is proposed Bendigo will acquire all of the ordinary shares in BCD. BCD shareholders will receive 0.72 Bendigo shares for each BCD share held which, based on the last closing prices, implies a combined market capitalisation of A$162 million. The scheme of o arrangement will require approval by BCD shareholders at a meeting expected to be held in November 2010.
