(Alliance News) - The following is a round-up of London-listed company director and manager changes, announced on Monday and late last week and not separately reported by Alliance News: Read More
ACG Metals Ltd - special-purpose acquisition company focused on the critical metals industry - Names Damien Coles as new chief legal officer. Coles is a former equity partner at law firm Kirkland & Ellis, and has served as a director since 2020 at Moorland Consulting which serves emerging markets-focused private equity and credit funds. He "has worked on some of the largest and most complex emerging markets transactions across a variety of industry sectors, including natural resources and renewable energy", ACG says. Company adds that Coles "brings over 20 years' experience of advising clients on deals in emerging markets and will be invaluable to ACG as the company looks to pursue further roll-up acquisitions in the copper sector in 2025". Read More
ACG Metals Ltd - special-purpose acquisition company focused on the critical metals industry - Says it has repaid USD12.1 million, or 32%, of its USD37.5 million acquisition debt agreement for the Gediktepe mine in Turkey with Traxys Europe SA and Argentem Creek Partners LP, as of October 31. ACG Metals entered into the agreement on August 31, and the outstanding principal is now USD25.4 million. Read More
(Alliance News) - ACG Metals Ltd on Monday said that it has signed an engineering, procurement and construction contract with Gap Insaat, Calik Holding's construction subsidiary. Read More
ACG Acquisition Co Ltd - special purpose acquisition company focused on copper and other critical metals - Updates on acquisition of Gediktepe polymetallic mine in the Balikesir province of western Turkey from Lidya Madencilik Sanayi ve Ticaret Anonim Sirketi, a subsidiary of Istanbul-based conglomerate Calik Holding. Says cash consideration has been reduced to USD85 million, subject to a working capital adjustment, from USD100 million. Adds the USD85 million in cash to be sourced from USD31.5 million in equity commitments from ACG cosponsors and Traxys Europe SA, a USD37.5 million gold prepay debt facility underwritten by Traxys and ACG cosponsors, as well as a minimum USD16 million in proceeds from its placing. Placing is for up to 4.2 million new shares at USD6.00, raising about USD25 million in cash. Further, the number of ACG shares to be issued to Lidya increases to 38% of total ACG share capital from a previously stated 30%. Read More
ACG Acquisition Co Ltd - special purpose acquisition company focused on copper and other critical metals - Extends book building process for share placing until Tuesday next week. The share placing relates to ACG's reverse takeover of the Gediktepe polymetallic mine in the Balikesir province of western Turkey from Lidya Madencilik Sanayi ve Ticaret Anonim Sirketi, a subsidiary of Istanbul-based conglomerate Calik Holding. The USD290 million deal is comprised of USD100 million in cash, plus USD37 million in ACG shares, 30% of the total, issued to Lidya. In addition, USD145 million will be spent on a sulphide expansion project at the mine to allow for copper and zinc production. As part of the acquisition, ACG is placing up to 4.2 million new shares at USD6.00 to raise about USD25 million in cash. "The ACG management team has been encouraged by strong engagement with its equity story during roadshow meetings conducted to date," it says. Read More
ACG Acquisition Co Ltd - special purpose acquisition company focused on new economy metals mining - Agrees to reverse takeover of the Gediktepe polymetallic mine in the Balikesir province of western Turkey from Lidya Madencilik Sanayi ve Ticaret Anonim Sirketi, a subsidiary of Istanbul-based conglomerate Calik Holding. The Gediktepe mine currently produces gold and silver but will start to production of copper and zinc in 2026. ACG says the newly listed company, to be called ACG Metals, will be a leading London-listed miner of copper, which it notes will play a central role in the long-term energy transition from fossil fuels. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
ACG Acquisition Co Ltd - special-purpose acquisition company seeking reverse takeover in new economy metals and other mining materials - Calls extraordinary general meeting for January 16 to ask shareholders to approve an extension of the deadline for ACG to complete an acquisition to June 30 from January 25. Also asks for release of escrow account worth about USD490,000 to fund the company until then. Read More
ACG Acquisition Co Ltd - special purpose acquisition company focused on new economy metals and other mining materials - Acting Chief Financial Officer Nick Box resigns, effective January 22, to pursue other opportunities. He is not a member of the board. ACG Acquisition says it will begin a process to identify a new CFO "as soon as possible" and will update the market in due course. Read More
(Alliance News) - ACG Acquisition Co Ltd on Friday said Chair Peter Whelan has resigned, effective immediately, while Chief Executive Officer Artem Volynets now also becoming acting chair. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - ACG Acquisition Co Ltd on Thursday said its Chief Financial Officer Carole Whittall has decided to step down. Read More
ACG Acquisition Co Ltd - special purpose acquisition company focused on new economy metals and other mining materials - Plans to seek shareholder approval to extend the deadline by which an acquisition must be completed to January 25 from October 12, by way of an amendment to its memorandum and articles. Intends to provide class A ordinary shareholders with the right to redeem all or a portion of their class A ordinary shares. Considers that the extension is appropriate in the circumstances, giving shareholders the option of participating in a potential future acquisition. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News: Read More
(Alliance News) - ACG Acquisition Co Ltd on Monday warned that its Brazilian mining purchase deal may collapse, but it said that discussions continue. Read More