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TORONTO - Dundee Precious Metals Inc. (TSX:DPM) announced Wednesday that its shareholders have overwhelmingly approved the company’s recommended acquisition of Adriatic Metals Plc and a corporate name change to "DPM Metals Inc."
At a special meeting held on August 13, approximately 99.73% of votes cast were in favor of the acquisition, with 99.81% supporting the name change. The meeting saw participation from about 73% of DPM’s outstanding shares.
The acquisition, first announced on June 13, will be implemented through a Court-sanctioned scheme of arrangement under the UK Companies Act. Adriatic shareholders have also approved the necessary resolutions at their own meetings held the same day.
Regulatory approval from the Competition Council of Bosnia and Herzegovina has already been secured. The transaction remains subject to Court sanction at a hearing scheduled for August 29 and the satisfaction of other conditions outlined in the scheme document.
If all conditions are met, the acquisition is expected to become effective on September 3, with issuance of new DPM common shares scheduled for September 15. Trading of these shares on the Toronto Stock Exchange is anticipated to begin the same day.
The Toronto Stock Exchange has conditionally approved the listing of the new DPM common shares, subject to the company satisfying customary listing requirements.
This article is based on a press release statement from Dundee Precious Metals.
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