Media Release: Clayton Utz advises Gindalbie on successful demerger of Coda and acquisition by Ansteel

24 Jul 2019

Perth, 24 July 2019: Clayton Utz has advised its longstanding client Gindalbie Metals Limited (ASX:GBG) on the successful implementation of its two key transactions announced in March.

Corporate partner Mark Paganin and special counsel Stephen Neale led the firm's team, with key support from lawyers Benjamin Depiazzi and Matthew Johns.  Partner Cameron Belyea and lawyer James Sprivulis led the court aspects of the transactions.

Under the first transaction, Gindalbie's wholly owned subsidiary, Coda Minerals Limited (Coda), has been demerged to Gindalbie shareholders.  Under the second transaction, Gindalbie has been acquired by its Chinese joint venture partner and major shareholder, Angang Group Hong Kong (Holdings) Limited (Ansteel).  The transactions were implemented by way of two inter-conditional schemes of arrangement.

Gindalbie shareholders today received $0.026 cash per share and eligible Gindalbie shareholders received one share in Coda for every 45 Gindalbie shares held.

Clayton Utz has acted as legal adviser to Gindalbie since 2006.

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