Sierra Metals Acknowledges Press Release from Alpayana Announcing its Intention to Commence an Unsolicited Takeover Bid
Sierra Metals (TSX: SMT | OTCQX: SMTSF) has acknowledged a press release from Alpayana S.A.C. announcing its intention to launch an unsolicited all-cash takeover bid for all outstanding Sierra Metals shares. The company notes that no formal written offer has been received, and there's no assurance an offer will be made. The Board has formed a Special Committee of independent directors to evaluate the announcement. The indicated price of C$0.85 per share represents a 10.4% premium, which the Board considers very low and opportunistic given Sierra's asset quality and growth plans. Shareholders are advised to take no action at this time.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) ha preso atto di un comunicato stampa di Alpayana S.A.C. che annuncia la sua intenzione di lanciare un'offerta di acquisto in contante non richiesta per tutte le azioni in circolazione di Sierra Metals. La società segnala che non è stata ricevuta alcuna offerta scritta formale e non c'è garanzia che venga presentata un'offerta. Il Consiglio ha formato un Comitato Speciale di amministratori indipendenti per valutare l'annuncio. Il prezzo indicato di C$0.85 per azione rappresenta un premio del 10,4%, che il Consiglio considera molto basso e opportunistico, dati la qualità degli asset di Sierra e i piani di crescita. Si consiglia agli azionisti di non intraprendere alcuna azione in questo momento.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) ha reconocido un comunicado de prensa de Alpayana S.A.C. que anuncia su intención de lanzar una oferta pública de adquisición en efectivo no solicitada para todas las acciones pendientes de Sierra Metals. La compañía señala que no se ha recibido ninguna oferta escrita formal y no hay garantía de que se realice una oferta. La Junta ha formado un Comité Especial de directores independientes para evaluar el anuncio. El precio indicado de C$0.85 por acción representa una prima del 10.4%, que la Junta considera muy baja y oportunista, dada la calidad de los activos de Sierra y sus planes de crecimiento. Se aconseja a los accionistas que no tomen ninguna acción en este momento.
시에라 메탈스 (TSX: SMT | OTCQX: SMTSF)는 알파야나 S.A.C.가 시에라 메탈스의 모든 발행 주식에 대한 비공식 현금 인수 제안을 시작할 의향을 발표한 보도 자료를 인지했습니다. 회사는 정식 서면 제안이 접수되지 않았으며 제안이 이루어질 것이라는 보장이 없음을 주목합니다. 이사회는 발표를 평가하기 위해 독립 이사로 구성된 특별 위원회를 구성했습니다. 제시된 C$0.85 per 주식 가격은 10.4%의 프리미엄을 나타내며, 이사회는 시에라의 자산 품질과 성장 계획을 고려할 때 매우 낮고 기회주의적이라고 판단하고 있습니다. 주주들은 현재 아무런 조치를 취하지 말 것을 권고합니다.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) a pris connaissance d'un communiqué de presse de Alpayana S.A.C. annonçant son intention de lancer une offre publique d'achat en espèces non sollicitée pour toutes les actions en circulation de Sierra Metals. La société note qu'aucune offre écrite officielle n'a été reçue et qu'il n'y a aucune garantie qu'une offre sera faite. Le Conseil a formé un Comité spécial d'administrateurs indépendants pour évaluer l'annonce. Le prix indiqué de C$0.85 par action représente une prime de 10,4%, que le Conseil considère très faible et opportuniste compte tenu de la qualité des actifs de Sierra et de ses projets de croissance. Les actionnaires sont conseillés de ne prendre aucune mesure pour le moment.
Sierra Metals (TSX: SMT | OTCQX: SMTSF) hat eine Pressemitteilung von Alpayana S.A.C. zur Kenntnis genommen, die die Absicht zur Bekanntgabe eines unaufgeforderten Barübernahmeangebots für alle ausstehenden Sierra Metals-Aktien ankündigt. Das Unternehmen weist darauf hin, dass kein formelles schriftliches Angebot eingegangen ist und es keine Garantie gibt, dass ein Angebot unterbreitet wird. Der Vorstand hat einen Sonderausschuss unabhängiger Direktoren eingerichtet, um die Ankündigung zu bewerten. Der angegebene Preis von C$0.85 pro Aktie stellt eine Prämie von 10,4% dar, die der Vorstand als sehr niedrig und opportunistisch erachtet, angesichts der Vermögensqualität und der Wachstumspläne von Sierra. Den Aktionären wird empfohlen, derzeit keine Maßnahmen zu ergreifen.
- Formation of Special Committee to protect shareholder interests
- Company has valuable high-quality asset base with future growth potential
- Low premium offer of only 10.4% above current share price
- Unsolicited takeover attempt creating uncertainty
At this time, the Board of Directors (“Board”) of Sierra Metals has not received any formal written offer from Alpayana. In fact, Sierra Metals has not received any recent indication of interest from Alpayana in respect of a proposed acquisition of the Company.
Sierra Metals continues to be committed to its long-term strategy of ensuring the Company delivers superior long-term value to all its shareholders and stakeholders.
The Board has formed a Special Committee of independent directors to advise the Board in relation to the Alpayana announcement. The Special Committee and Board note, as a preliminary matter, that the price of
The Company advises shareholders to take NO action at this time and will continue to provide appropriate disclosure of any material developments as they arise.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in
For further information regarding Sierra Metals, please visit www.SierraMetals.com.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
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Investor Relations
Sierra Metals Inc.
+1 (866) 721-7437
info@sierrametals.com
Source: Sierra Metals Inc.
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