Peel Mining Registers Scheme Booklet for Aeris Takeover and Spectre Demerger

Aeris Resources Limited ( (AU:AIS) ) has provided an update.

Peel Mining Limited has confirmed that its scheme booklet for the proposed acquisition by Aeris Resources Limited and the demerger of its wholly owned subsidiary Spectre Metals Limited has been registered with the Australian Securities and Investments Commission. The booklet, which includes the independent expert’s report and meeting notices, is available on Peel’s website and outlines how shareholders can access full details of the transaction.

Under the proposal, Aeris will acquire 100% of Peel’s issued shares via a scheme of arrangement, while Peel will first demerge Spectre through an equal capital reduction. Peel’s board has unanimously recommended that shareholders vote in favour of both the scheme and the demerger, in the absence of a superior proposal and subject to the independent expert continuing to find the scheme in shareholders’ best interests, signalling board support for the strategic combination and capital restructuring.

The most recent analyst rating on (AU:AIS) stock is a Buy with a A$0.70 price target. To see the full list of analyst forecasts on Aeris Resources Limited stock, see the AU:AIS Stock Forecast page.

More about Aeris Resources Limited

Peel Mining Limited is an Australian resources company listed on the ASX that is focused on mineral exploration and development. Its assets include interests in base and precious metals projects, positioning it as a junior player in the mining sector and a potential consolidation target for larger diversified miners such as Aeris Resources Limited.

Average Trading Volume: 7,684,108

Technical Sentiment Signal: Sell

Current Market Cap: A$472.9M

Find detailed analytics on AIS stock on TipRanks’ Stock Analysis page.