Vault Minerals Says Cash Scaleback Mechanism to Apply to Shareholders Choosing to Receive Maximum Cash Consideration in Genesis Takeover; Shares Fall 3%

MT Newswires Live11-06

Vault Minerals (ASX:VAU) said the cash scaleback mechanism will apply to its shareholders who have elected to receive the maximum cash consideration in relation to Genesis Minerals' (ASX:GMD) proposed acquisition of all shares in Vault, with a portion of the scheme consideration to be provided to those shareholders being in the form of cash consideration and the remainder being in the form of scrip consideration, according to a Friday ASX filing.

The deadline for Vault shareholders to decide as to the form of scheme consideration that they wish to receive was Wednesday. The record date for the scheme is expected to be Nov. 19, when the final outcome of shareholder elections and the operation of the scaleback mechanisms will be known.

The scrip scaleback mechanism will not apply to shareholders who have elected to receive the maximum scrip consideration.

Vault's shares fell 3% in recent trading on Friday.

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