Update on Morrocota Acquisition
Morrocota acquisition consideration reduced; vendor share subscription delayed pending new admission application.
vs expectations: below
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Further to the RNS announcement dated 6 December 2024, Nativo Resources plc (LON:NTVO), which has interests in gold mines in Peru, announces that further discussions with the Morrocota Vendors have been taking place and it is now anticipated that the overall consideration for the acquisition will be slightly lower than originally agreed.
Accordingly, the Company also notes a delay to the investment in Nativo by the Morrocota Vendors by way of a share subscription ("Subscription") as announced on 6 December 2024. Application for admission of these shares has therefore been cancelled, with a new application for admission expected to be made shortly. The previously agreed Issue Price is expected to remain unchanged.
A further update on the revised consideration for the acquisition, as well as confirmation of the Subscription, is expected to be made shortly.
Unless otherwise defined, capitalised terms in this announcement shall have the same meaning as in the 6 December 2024 announcement.
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.