Northern Star, Saracen announce merger complete
Northern Star Resources and Sar- acen Mineral Holdings have merged after implementing their scheme of arrangement. In accordance with the Scheme, all Saracen shares have now been trans- ferred to Northern Star, and eligi- ble Saracen shareholders have been issued the Scheme consideration of 0.3763 Northern Star shares for each Saracen share held on the Scheme re- cord date. The newly issued Northern Star shares commenced trading on ASX on Feb. 15. In addition, Northern Star has is- sued the Northern Star shares oth- erwise payable to “Ineligible Share- holders” (as defined in the Scheme Booklet) to a nominee who has been appointed to sell those shares so that the net proceeds of sale can be dis- tributed to applicable Saracen share- holders in accordance with the pro- cess set out in the Scheme Booklet.
Northern Star has appointed the following Saracen Directors to the Northern Star Board with effect from today. n Raleigh Finlayson, as Manag- ing Director. n Anthony Kiernan, as Lead In- dependent Director. n John Richards, as Non-Execu- tive Director. n Sally Langer, as Non-Executive Director. In addition, Northern Star has said farewell to Peter O’Connor, who re- tired from the company’s board. Pe- ter first joined the Board in May 2012, when Northern Star’s share price was approximately 40 cents. Northern Star Executive Chair Bill Beament welcomed Finlayson, Ki- ernan, Richards and Langer to the Northern Star Board and thanked O’Connor for his invaluable contri- bution.
“Peter has been an outstanding Director,” Beament said. “His wis- dom, experience and commercial acumen saw him play a vital role in the creation and execution of North- ern Star’s growth strategy. “His deep understanding of finan - cial markets and the sound advice he provided based on many years of ex- perience made him invaluable, par- ticularly in times of intense merger and acquisition activity.” Beament said the Board looked forward to working with the new Di- rectors as the Company embarked on its next chapter of growth. “We have a diverse Board, with each Director bringing particular skills and experience,” he said. “This composition will help ensure we con- tinue growing returns for all Stake- holders using our first-class team of people, exceptional asset base, strong cashflow and robust balance sheet.”
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April 2021
The Alaska Miner
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