Acquisition of Beadell Resources by Great Panther Silver

Acquisition of Beadell Resources by Great Panther Silver

(in English only)

On 24 September 2018, Beadell Resources Limited and Great Panther Silver entered into a Scheme Implementation Deed under which Great Panther will acquire all the Beadell Shares by way of a scheme of arrangement.

If the Scheme is implemented, Beadell Shareholders (other than Ineligible Foreign Shareholders and electing Small Shareholders) will receive 0.0619 New Great Panther Shares (which will trade on the TSX and the NYSE (American)) for each Beadell Share held at the Scheme Record Date.

On 12 February 2019, at the Scheme Meeting, Beadell shareholders approved the proposal by Great Panther to acquire 100% of the issued capital of Beadell by way of a scheme of arrangement (Scheme).

On 15 February 2019, the Supreme Court of Western Australia made orders approving the proposed acquisition of Beadell by Great Panther.

On 18 February 2019, Beadell shares were suspended from ASX official quotation.

TIMETABLE

An indicative timetable of the key milestones remaining under the Scheme is set out below.

Event Date
Scheme Record Date 25 February 2019
Latest time and date for receipt of Election Forms from Small Shareholders 5.00pm AWST 25 February 2019
Implementation Date 5 March 2019
New Great Panther Shares commence trading on TSX on a normal settlement basis 8 March 2019
New Great Panther Shares commence trading on NYSE (American) on a normal settlement basis 8 March 2019
Expected dispatch of DRS Advices for New Great Panther Shares 19 March 2019

All dates are indicative only and are subject to the Court approval process, ASX and TSX approval, and the satisfaction or waiver of the conditions precedent under the Scheme Implementation Deed. Beadell may vary any or all of these dates and times and will provide notice of any such variation on ASX.

Benefits of the Arrangement include:

  • Exposure to substantial value creation from successful execution of the Tucano turnaround that will be enhanced by Great Panther’s strong balance sheet and management’s experience with similar assets in Brazil; most notably Great Panther’s CEO James Bannantine’s experience operating mine in Brazil and his fluency in Portuguese
  • Increased production profile and market capitalisation to enhance capital markets profile and trading liquidity of the Merged Group
  • Diversified Merged Group’s asset base with operations in Brazil, Mexico and Peru
  • Enhanced organic growth with Beadell’s multiple in mine lease discoveries and 2,500 km2 highly prospective exploration land package
  • Ongoing participation in Merged Group with strong re-rating potential

Related ASX Announcements

Shareholder Questions

Beadell’s Investor Relations Team

Telephone: +61 8 9429 0808

Email: info@beadellresources.com.au

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