International Mining and Infrastructure Corp PLC: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
International Mining & Infrastructure Corporation Plc (IMIC) - Metals and Mining - Deals and Alliances Profile
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International Mining and Infrastructure Corp PLC to Acquire Afferro
International Mining and Infrastructure Corp PLC (IMIC) announced a Definitive Arrangement Agreement signed between IMIC and Afferro for the proposed acquisition, on a recommended basis, by IMIC of 100% of the issued and to be issued share capital of Afferro pursuant to a Canadian court-approved plan of arrangement. Acquisition price per Afferro share of GBP1.20 per share comprising GBP0.80 in cash; plus a listed two-year unsecured convertible loan note with par value of GBP0.40 and carrying simple annual interest of 8% (the Loan Note). The acquisition values the fully diluted share capital of Afferro at approximately USD200 million. The acquisition, based on par value of the Loan Note, represents a premium of 104% to the 10-day volume weighted average trading price (VWAP) of Afferro shares for trading days ended April 16, 2013, being the date prior to IMIC's announcement of its initial proposed offer for the Company.
Latest Developments for International Mining and Infrastructure Corp PLC
- Afferro Mining Inc and International Mining and Infrastructure Corp PLC update on acquisition
- International Mining and Infrastructure Corp PLC Announces Conditional Placement of New Ordinary Shares and Warrants
- Afferro Mining Inc and International Mining and Infrastructure Corp PLC Announce Amendment to Arrangement Agreement
- Afferro Mining Inc Agrees To $190 Million Offer From International Mining and Infrastructure Corp PLC-Reuters
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