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LONDON - Adriatic Metals PLC announced today that trading of its shares has been cancelled following the completion of its acquisition by Dundee Precious Metals Inc.
The London Stock Exchange has terminated the admission to trading of Adriatic Ordinary Shares effective from 8:00 a.m. today, according to a company statement. Additionally, ASX Limited has cancelled the listing of Adriatic CDIs on the Australian Securities Exchange, effective from 4:00 p.m. Australian Eastern Standard Time today.
The cancellations follow yesterday’s announcement that the scheme of arrangement for Dundee Precious Metals’ acquisition of Adriatic’s entire issued and to be issued share capital has become effective.
This development marks the final step in the acquisition process, as Adriatic Metals transitions to becoming part of Dundee Precious Metals’ portfolio.
The announcement comes after shareholders and regulatory authorities approved the transaction, allowing the scheme to proceed to completion.
Adriatic Metals, which has focused on mining operations in the Balkans, will now operate under the Dundee Precious Metals umbrella, a mid-tier mining company with operations across multiple jurisdictions.
The statement provided no additional details regarding the financial terms of the acquisition or the future operational plans for Adriatic’s assets.
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