Further to the announcement made by Arc Minerals on 18 March 2020 to sell Arc’s entire 99.43% interest in Casa Mining Limited (“Casa”) to Golden Square Equity Partners Limited (“Golden Square”) for a consideration of up to $50m, Arc wishes to inform shareholders that it has been informed by Golden Square that Golden Square has been approached by a third party interested buyer.
Any such transaction requires the consent of Arc Minerals. Arc Minerals is reviewing the proposed transaction, which potentially looks attractive, and will update the market in due course.
The Company also announces that the US$5m consideration due to Arc Minerals in the form of a loan note resulting from the sale of its interest in Casa, which had been due to mature on 19 March 2021, has been extended for a further 120 days to 16 July 2021.
Total Voting Rights
For the purposes of Disclosure and Transparency Rules, the Company confirms that at the date of this announcement the total issued share capital is 1,103,641,762 Ordinary Shares of no par value. There are no Ordinary Shares held in treasury and the total number of voting rights in the Company is therefore 1,103,641,762. This figure may be used by shareholders as the denominator or the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company, under the FCA’s Disclosure and Transparency Rules.
For more information visit www.arcminerals.com.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
