TRIDENT ROYALTIES PLC - TDTRF STOCK NEWS

Trident Royalties PLC and Deterra Global Holdings Pty have updated the timetable for their recommended cash acquisition. The Scheme Sanction Hearing is now scheduled for 29 August 2024. Key dates include:

- Court Meeting and General Meeting: 26 July 2024
- Expected Effective Date of the Scheme: 2 September 2024
- Cancellation of Trident Shares trading on AIM: 3 September 2024
- Long Stop Date: 31 October 2024

The acquisition remains subject to satisfaction or waiver of conditions outlined in the Scheme Document. All times and dates are indicative and may change.

Trident Royalties has announced the publication of a Scheme Document concerning their acquisition by Deterra Global Holdings Pty , a wholly-owned subsidiary of Deterra Royalties The cash acquisition will be executed under a court-sanctioned scheme of arrangement as per Part 26 of the Companies Act 2006. This Scheme Document includes detailed terms and conditions, an explanatory statement, and a timetable of principal events. Trident Directors, advised by BMO, consider the acquisition terms fair and recommend shareholders vote in favor at forthcoming meetings on July 26, 2024. Additionally, Bidco has received irrevocable undertakings representing approximately 26.1% of Trident’s issued share capital. The Scheme is expected to become effective in H2 2024, leading to the suspension of trading in Trident Shares on AIM and other exchanges. Key dates are outlined, with the Long Stop Date extended to October 31, 2024.

Trident Royalties PLC has announced a major change in its shareholder structure. BlackRock, Inc., a significant stakeholder, has reduced its voting rights from 5.55% to below 5% as of June 14, 2024. This shift was officially notified to Trident Royalties on June 17, 2024. The notification includes a detailed breakdown of BlackRock's indirect voting rights through various financial instruments. This development may impact Trident's stock performance and investor sentiment.

Deterra Global Holdings Pty and Trident Royalties have agreed on a recommended all-cash offer for Trident's entire issued share capital. Each Trident Shareholder will receive 49 pence per share, valuing Trident at approximately £144 million. This offer represents a premium of 22.5% over Trident's closing price on June 12, 2024, and 42% over the price on April 23, 2024. The offer will be implemented through a Court-sanctioned scheme of arrangement.

Deterra aims to enhance its growth strategy by acquiring Trident's diversified portfolio, which includes assets in lithium, silver, and copper. The proposal has backing from key investors holding 28.7% of Trident's share capital. The Trident Board recommends shareholders vote in favor, citing immediate liquidity and a significant cash premium.

The offer provides a strategic advantage for Deterra, aligning with its goal of diversified revenue streams and strong cash flows. Trident's shareholders benefit from a de-risked exit and a premium to the IPO price. The deal is expected to complete in H2 2024, pending shareholder and court approvals.

Trident Royalties PLC, trading under the symbols AIM:TRR and OTCQB:TDTR, announced the successful passing of all resolutions proposed at their Annual General Meeting (AGM) held on June 7, 2024. This meeting marks a pivotal moment for the diversified mining royalty company as it seeks to further its strategic objectives.

Key contact details and advisors were also listed, including Grant Thornton, Liberum Capital , Stifel Nicolaus Europe , Tamesis Partners LLP, and St Brides Partners

Trident Royalties announced a significant milestone for its Greenstone Gold Mine project in Ontario, Canada, managed by Equinox Gold. The project achieved its first gold pour, producing 1,800 ounces. This marks an on-schedule achievement with all equipment operating as expected. Trident holds an offtake agreement for 100% of the gold produced at Greenstone up to 58,500 oz annually until March 2027. Greenstone is projected to produce 400,000 oz of gold annually for the first five years and an average of 360,000 oz annually over its 14-year lifespan, making it one of Canada's largest gold mines. Equinox Gold anticipates ramping up to commercial production by Q3 2024, despite recent inflationary and supply chain challenges.

Trident Royalties PLC has announced the availability of its 2023 Annual Report and Accounts along with the Notice of the 2024 Annual General Meeting. Shareholders will have access to download the documents from the company's website, with physical copies being mailed later. The AGM is scheduled to take place in London on June 7, 2024, and shareholders are encouraged to register their attendance and submit their votes in advance. The company aims to provide transparency and engagement with its shareholders through these initiatives.

Trident Royalties PLC announced the transition in the chairman position with Al Gourley stepping down for personal reasons and Peter Bacchus taking over. The company thanked Al for his contribution and expressed confidence in the future with a growing asset portfolio and strong balance sheet. Trident has seen significant growth under Al's tenure, expanding its royalty portfolio to over 20 assets.

Trident Royalties Plc reported a 6% decrease in quarterly receipts to US$2.98 million in Q1 2024, driven by lower gold deliveries. The company remains optimistic about the growth potential of its assets, with key developments in various projects. Thacker Pass lithium royalty is advancing towards cash-flow, while the gold offtake portfolio continues to perform well. Trident completed acquisitions and secured funding for future productions. Despite an unaudited net debt position of US$22 million, Trident's CEO expressed confidence in the company's portfolio and revenue growth prospects.