Trident Royalties PLC Announces Update on Scheme Timetable
Trident Royalties PLC, a leading mining royalty and streaming company, recently provided an update on the proposed scheme of arrangement with Thor Explorations Ltd. The scheme, which was initially announced in May 2021, has been progressing steadily, with both companies working towards the successful completion of the transaction.
The scheme of arrangement involves the acquisition of all of the issued and outstanding shares of Thor Explorations Ltd. by Trident Royalties PLC. The proposed transaction is expected to create a stronger, more diversified company with enhanced growth prospects in the mining sector.
In the latest update, Trident Royalties PLC announced that the High Court of Justice in England and Wales has approved the convening of the meeting of Thor shareholders to vote on the scheme of arrangement. The meeting is scheduled to take place on November 5, 2021.
Following the shareholder vote, the scheme of arrangement will be subject to court sanction at a hearing scheduled for November 12, 2021. Once the court sanction is obtained, the transaction is expected to complete shortly thereafter, subject to the satisfaction of all remaining conditions.
Both Trident Royalties PLC and Thor Explorations Ltd. have expressed confidence in the strategic rationale behind the transaction and the benefits it will bring to shareholders of both companies. The combined entity is expected to leverage the strengths of both companies to create a leading mining royalty and streaming company with a diversified portfolio of assets and a strong growth trajectory.
In conclusion, the update on the scheme timetable marks another important milestone in the progress towards completing the transaction between Trident Royalties PLC and Thor Explorations Ltd. Shareholders and stakeholders of both companies are eagerly anticipating the completion of the scheme of arrangement and the subsequent value creation that is expected to result from the merger.
