Pretium shareholders approve acquisition by Newcrest Mining (ASX:NCM)

Company News

by Lauren Evans

Newcrest Mining’s (ASX:NCM) acquisition of Pretium Resources was approved by 95.48 per cent of the votes cast by Pretium shareholders.

Pretium shareholders who did not elect cash or Newcrest shares will receive 50 per cent cash and 50 per cent Newcrest shares, or $9.25 in cash and 0.4042 of a Newcrest share per Pretium share.

For other shareholders, Pretium shareholder electing maximum cash will receive around $10.81 in cash and 0.3357 of a Newcrest share per Pretium share. For those opting for maximum shares, they will get 0.8084 of a Newcrest share per Pretium share.

Final completion of the transaction, which includes the Brucejack mine, is subject to the Toronto Stock Exchange’s final approval and is expected by the end of March.

“It’s pleasing to see the overwhelmingly positive support for the Transaction from Pretivm shareholders. This acquisition positions Newcrest as the leading gold miner in British Columbia’s Golden Triangle, operating both the Brucejack and Red Chris mines," said chief executive officer Sandeep Biswas. 

Shares in Newcrest Mining (ASX:NCM) are trading 0.9 per cent lower at $25.31.

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