St Barbara (ASX:SBM) agreed with Patronus Resources (ASX:PTN) for the company's 158.1 million shares to be bought back by Patronus through a selective buyback, with the consideration to be in the form of shares in Geopacific Resources (ASX:GPR), according to separate Friday filings with the Australian bourse.
Patronus will transfer 458.6 million shares of Geopacific to St Barbara in exchange for a 158.1 million share buyback.
The deal requires an independent expert report and approval by Patronus shareholders at a general meeting.
After the deal, St. Barbara will not have any interest in Patronus, and its listed investment portfolio will comprise Brightstar Resources (ASX:BTR), Geopacific Resources, and Peel Mining (ASX:PEX), with holdings of 5.6%, 14.4%, and 7.1%, respectively.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.