TIDMTRR
RNS Number : 7814V
Trident Royalties PLC.
15 December 2021
15 December 2021
Trident Royalties Plc
("Trident" or the "Company")
Notice of General Meeting and Posting of Shareholder
Circular
Trident Royalties Plc (AIM:TRR, FSX:5KV), the growth-focused
mining royalty and streaming company, announces that further to the
announcements made on 13 December 2021 and 14 December 2021
regarding the proposed placing, subscription and PrimaryBid Offer
to raise approximately US$40 million in connection with the
acquisition of a portfolio of producing gold offtake streams from
funds managed by Orion Resource Partners (the "Transaction"), the
Company will today publish and post (or otherwise make available)
to its shareholders a notice of general meeting (the "General
Meeting") with related explanatory circular (together the "GM
Notice and Circular") and form of proxy.
A copy of the GM Notice and Circular will also be available on
the Company's website, www.tridentroyalties.com.
As set out in the GM Notice and Circular, the General Meeting
will be held to consider certain matters in connection with the
Transaction including, but not limited to:
-- the directors' authority to allot shares and the
disapplication of pre-emption rights in respect of new ordinary
shares of GBP0.01 each in the capital of the Company ("Ordinary
Shares") which have been placed under the placing and subscription
conditional on the passing of certain resolutions at the General
Meeting; and
-- to authorise the issue of warrants to subscribe for new
Ordinary Shares to the Company's lender, Macquarie Bank
Limited.
The General Meeting will also consider renewing the directors
general authority to allot shares and the disapplication of
pre-emption rights in respect of a 100,000,000 Ordinary Shares as
the current authority will have been utilised in full following the
Transaction.
The General Meeting will be held at 2 p.m. (GMT) on 10 January
2022 at the offices of Tamesis Partners LLP, 125 Old Broad Street,
London, EC2N 1AR.
Subject to the prevailing UK Government guidance and
restrictions on physical gatherings, it may be possible to welcome
shareholders in person to the General Meeting.
However, attendance in person is likely to be restricted to
allow for appropriate social distancing and other health and safety
measures. To enable the Company to comply with the prevailing UK
Government guidance and social distancing guidelines, shareholders
who wish to attend the General Meeting in person will be required
to pre-register their intention to attend by notifying the Company
by email at info@tridentroyalties.com by no later than 2 p.m. (GMT)
on 6 January 2022.
In light of the current uncertainty, shareholders are strongly
encouraged to submit their votes by proxy in advance of the General
Meeting in accordance with the instructions set out in the GM
Notice and Circular and to appoint the chair of the meeting as
their proxy to vote on their behalf.
Irrevocable Undertakings
The Company has received irrevocable undertakings from certain
of its shareholders and Collingwood Capital (a company wholly owned
by Paul Smith) and Al Gourley and Albert C Gourley Professional
Corporation (a company wholly owned by Al Gourley) to vote in
favour of resolutions 1, 2, 4 and 5 to be proposed at the General
Meeting, in respect of their entire holdings of 69,634,031 Ordinary
Shares in aggregate, representing approximately 38.5 per cent. of
the Company's issued share capital at the date of the GM Notice and
Circular. This number is expected to increase to 96,924,783
Ordinary Shares in aggregate following the issue of the Firm
Placing Shares (as defined in the Company's announcement of 14
December 2021), representing approximately 38.5 per cent. of the
Company's issued share capital following the issue of the Firm
Placing Shares (excluding the consideration shares to be issued
pursuant to the Transaction) . Collingwood Capital (a company
wholly owned by Paul Smith) and Al Gourley and Albert C Gourley
Professional Corporation (a company wholly owned by Al Gourley)
have also irrevocably undertaken to vote in favour of the
resolutions 3 and 6 to be proposed at the General Meeting.
** Ends **
Contact details:
Trident Royalties Plc www.tridentroyalties.com
Adam Davidson +1 (757) 208-5171
Grant Thornton (Nominated Adviser) www.grantthornton.co.uk
Colin Aaronson / Samantha Harrison +44 020 7383 5100
----------------------------
Tamesis Partners LLP (Financial www.tamesispartners.com
Adviser, Joint Bookrunner) +44 20 3882 2868
Richard Greenfield
----------------------------
Stifel Nicolaus Europe Limited (Joint www.stifelinstitutional.com
Bookrunner) +44 20 7710 7600
Callum Stewart / Ashton Clanfield
----------------------------
Ashanti Capital Pty Ltd (Joint Bookrunner) www.ashanticapital.com.au
Rob Hamilton +61 8 6169 266
----------------------------
St Brides Partners Ltd (Financial www.stbridespartners.co.uk
PR & IR) +44 20 7236 1177
Susie Geliher / Catherine Leftley
----------------------------
About Trident
Trident is a growth-focused diversified mining royalty and
streaming company, providing investors with exposure to a mix of
base and precious metals, bulk materials (excluding thermal coal)
and battery metals.
Key highlights of Trident's strategy include:
-- Expanding on a royalty and streaming portfolio which broadly
mirrors the commodity exposure of the global mining sector
(excluding thermal coal) with a bias towards production or
near-production assets, differentiating Trident from the majority
of peers which are exclusively, or heavily weighted, to precious
metals;
-- Acquiring royalties and streams in resource-friendly
jurisdictions worldwide, while most competitors have portfolios
focused on North and South America;
-- Targeting attractive small-to-mid size transactions which are
often ignored in a sector dominated by large players;
-- Active deal-sourcing which, in addition to writing new
royalties and streams, will focus on the acquisition of assets held
by natural sellers such as: closed-end funds, prospect generators,
junior and mid-tier miners holding royalties as non-core assets,
and counterparties seeking to monetise packages of royalties and
streams which are otherwise undervalued by the market;
-- Maintaining a low-overhead model which is capable of
supporting a larger scale business without a commensurate increase
in operating costs; and
-- Leveraging the experience of management, the board of
directors, and Trident's adviser team, all of whom have deep
industry connections and strong transactional experience across
multiple commodities and jurisdictions.
The acquisition and aggregation of individual royalties and
streams is expected to deliver strong returns for shareholders as
assets are acquired on terms reflective of single asset risk
compared with the lower risk profile of a diversified, larger scale
portfolio. Further value is expected to be delivered by the
introduction of conservative levels of leverage through debt. Once
scale has been achieved, strong cash generation is expected to
support an attractive dividend policy, providing investors with a
desirable mix of inflation protection, growth and income.
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