31/01/2024
We're pleased to have helped with the £142m recommended cash acquisition of AIM-listed Shanta Gold, a mining company registered in Guernsey with a focus on East African operations, by Tanzania-based group Saturn Resources, which is part of ETC Holdings.
In a statement, Shanta Gold said: “This is an all-cash offer at a premium to the current price when the gold price is close to an all-time high. As such it provides an exit opportunity in cash for all shareholders, taking into account the current gold price as well as the operational and other risks inherent in the business.”
The cash acqusition was effected via a Scheme of Arrangement. Our thanks to our wonderful clients at Addleshaw Goddard, Memery Crystal and Liberum Capital for the opportunity to work on this transformational deal.
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