CITIC Resources Holdings to Trade Alumina Shares for Alcoa's

MT Newswires Live07-23

CITIC Resources Holdings (HKG:1205) disclosed that Alumina Ltd. (ASX:AWC) lodged copies of court approval to its scheme of arrangements with the Australian Securities and Investments Commission on Tuesday, July 23, making the scheme effective and binding on the scheme participants, a same-day filing with the Hong Kong Exchange said.

The company, through its subsidiary CITIC Resources Australia, held 278.9 million shares in Alumina. Alumina had received an offer of scheme of arrangements from Alcoa to acquire 100% of the ordinary shares on issue in Alumina by way of a scheme of arrangement, for scrip consideration of 0.02854 shares of Alcoa common stock for each share in Alumina.

Alumina shares have been suspended from trading on the Australian Stock Exchange from July 23.

AWC scheme arrangement is expected to be implemented on Aug. 1.

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