Market Update

On 18 July 2024, ACG announced that it had agreed the acquisition of the Gediktepe Mine in Türkiye from Lidya Madencilik Sanayi ve Ticaret Anonim Şirketi, a subsidiary of Istanbul-based conglomerate Çalık Holding (the "Acquisition").

On 7 August 2024, ACG also announced the publication of a circular (the "Circular") and a notice of extraordinary general meeting of its shareholders ("EGM Notice") convening a meeting of the shareholders of ACG (the "Acquisition EGM") for the purpose of considering and voting on the adoption of certain resolutions, including, but not limited to, the approval of the Acquisition.

UPDATE on Acquisition

The ACG Management team has been encouraged by strong engagement with its equity story during roadshow meetings conducted to date.

While discussions with investors are ongoing, ACG has decided to extend the book building process for the Placing until 27 August 2024 and to postpone the deadline for redemptions by existing holders of Class A ordinary shares to 1:00 p.m. on 28 August 2024. Completion of the Acquisition, settlement of the Placing and redemption payments are expected on 30 August 2024.

ACG notes that it has received a notification of conversion from a holder of Class B shares into Class A ordinary shares as permitted by ACG's memorandum and articles of association (M&A) and with effect as of today. Such conversion has no effect on the ongoing redemption process for Class A ordinary shares and such shareholder is not entitled to any of the proceeds in the Escrow Account (as defined in the M&A).

ACG further announces today that the Acquisition was approved through written resolutions adopted today by 96.1% of holders of the Company's Class A ordinary shares entitled to vote thereon. In addition, amended and restated memorandum and articles of association of the Company in the form recommended by ACG's board and appended as Exhibit B to the EGM Notice have been approved, subject to the closing of the Acquisition, through written resolutions adopted today by 69.0% of the Company's Shareholders entitled to vote thereon, with effect upon the completion of the Acquisition.

As a result of the above, the Acquisition EGM is no longer needed and is hereby cancelled.

ACG will publish a further update on the transaction in due course.