Hamilton Locke advised Magnetic Resources NL (ASX:MAU) on its proposed acquisition by Genesis Minerals Limited (ASX:GMD), a leading Australian gold producer, for cash and scrip consideration by way of a scheme of arrangement.
The transaction incorporated a mix and match facility under which shareholders can modulate the mix of cash and scrip consideration; allowing for the accommodation of differing views on forecast gold prices, the tax treatment preferences of foreign shareholders and short vs long term investment objectives.
Commenting on the transaction, Hamilton Locke Partner James Nicholls said: “We are delighted to be advising Magnetic Resources on achieving a remarkable outcome for shareholders. We have enjoyed working with the Magnetic team on the transaction, as well as financial advisers, Jefferies.”
The team at Hamilton Locke is being led by Corporate Partners James Nicholls and Shaun Hardcastle who are closely supported by Senior Associate Jeremy O’Hara and Associates Alexis Brenssell, Chris Simpson and Emily Wang. Competition law advice was provided by Alistair Newton and specialist tax advice provided by Seema Sandhu and Anushka De Alwis.
