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LONDON - Central Asia Metals PLC (AIM:CAML) has executed a Second Deed of Variation with New World Resources Limited (ASX:NWC) to increase its cash consideration under the proposed acquisition scheme to A$0.055 per NWR share, the company announced Monday.
The revised offer values New World Resources at approximately A$204 million, according to a press release statement from CAML.
The announcement follows CAML’s previous disclosure on June 20, and comes as NWR confirmed it had received an unsolicited, non-binding proposal from Kinterra Capital GP Corp. to acquire NWR shares at A$0.057 per share via an off-market takeover offer.
CAML stated it is "currently considering the implications of the Kinterra Offer" and will provide updates on further developments.
Central Asia Metals, a UK-incorporated base metals producer with operations in Europe and Central Asia, owns the Sasa underground zinc-lead mine in North Macedonia and the Kounrad SX-EW copper project in Kazakhstan. The company also holds an 80% interest in CAML Exploration and a 28.4% stake in Aberdeen Minerals Ltd.
BMO Capital Markets is acting as lead financial adviser to CAML for the transaction, with Mayer Brown serving as UK and US legal adviser and Clayton Utz as Australian legal adviser.
CAML has been listed on the London Stock Exchange (LON:LSEG) since 2010 and currently has a market capitalization of approximately US$380 million.
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