Dundee Precious Metals Secures Shareholder Backing for Adriatic Deal
Strong Shareholder Support for Acquisition and Name Change
TORONTO — Dundee Precious Metals Inc. (TSX: DPM) has announced that its shareholders have overwhelmingly supported the acquisition of Adriatic Metals and a significant name change. This decision was formalized during a special meeting where the voting results revealed remarkable support.
At this meeting, held at 10:00 a.m. (Toronto time), shareholders voted significantly in favor of two key resolutions. First, they approved the issuance of DPM shares as part of the acquisition plan to obtain Adriatic Metals plc. Second, they endorsed the company’s change of name to “DPM Metals Inc.”, pending further regulatory approval.
Voting Results Reflect High Confidence
A total of 122,182,683 shares were cast regarding the share issuance, reflecting around 73.19% of DPM's outstanding shares. For the proposed name change, 125,583,567 shares were voted, translating to approximately 75.23% of all issued shares. Notably, both resolutions received over 99.7% approval from shareholders.
Details on Voting Outcomes
The detailed voting results showed significant backing for the share issuance with 121,852,918 votes in favor, which is about 99.73% of votes cast. Conversely, only a small fraction, 329,765 votes, were against this proposal, indicating strong shareholder confidence in DPM's strategic direction.
Regarding the name change, the results were similarly promising, with 125,346,665 votes for and just 236,902 votes against, demonstrating an enthusiastic endorsement from shareholders for the new identity of the company.
Adriatic Shareholder Approval
In conjunction with DPM's approval, Adriatic Metals has also secured the necessary shareholder endorsements during its recent meetings, paving the way for the acquisition to move forward. This dual approval marks a significant benchmark in DPM's growth strategy.
Next Steps for the Acquisition
While the approval process has been positively received, the acquisition's completion is contingent upon legal proceedings. The high court in England and Wales will consider the Scheme, with its proceedings currently scheduled. Successful sanctioning by the court is essential for finalizing this strategic merger.
Understanding the Revised Company Strategy
Dundee Precious Metals is recognized as a Canadian-based international gold mining firm with diversified operations in regions such as Bulgaria, Serbia, and Ecuador. The core mission of DPM is to evolve into a mid-tier precious metals company, which hinges on sustainable mining practices and robust financial health.
The company's strategic framework is designed to foster significant growth by developing quality projects that deliver lasting value to their shareholders. Emphasizing responsible gold production and stability in finances, DPM aims to solidify its position in the global mining market.
Contact Information
For further inquiries regarding this acquisition and future prospects, interested parties may contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dundeeprecious.com
Frequently Asked Questions
What was the outcome of the DPM shareholders' meeting?
The shareholders overwhelmingly approved both the acquisition of Adriatic Metals and the name change to DPM Metals Inc.
How much shareholder support was received for the acquisition?
Shareholders showed over 99.7% approval for both the share issuance related to the acquisition and the name change.
What are the next steps for the acquisition of Adriatic Metals?
The acquisition is pending sanctioning by the High Court of Justice in England and Wales, with a hearing scheduled.
What is the strategic vision for Dundee Precious Metals?
DPM aims to be a mid-tier precious metals company focusing on sustainable production and robust growth through quality assets.
Who can be contacted for more information?
Jennifer Cameron, the Director of Investor Relations, is the point of contact for inquiries.
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