“The completion of the merger brings together assets and teams with highly complementary skills and knowledge,” de Solay said. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any a smart trading move from sucden financial other professional.
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- Galaxy Resources recently completed a feasibility study for its Sal de Vida lithium carbonate project in Argentina, and operates the Mt Cattlin spodumene concentrate project in WA.
- Solay is to oversee the integration process for the new merged company and with its board, determine an optimal management team that draws from employees of both companies.
- Galaxy Resources chief executive, Simon Hay, steps into a new role with the merged company as president of international business reporting to the chief executive.
- Participation in the merger will provide significant benefits to Galaxy Resources shareholders in being part of a larger diversified group and help to advance its projects’ development.
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Participation in the merger will provide significant benefits to Galaxy Resources shareholders in being part of a larger diversified group and help to advance its projects’ development. “This transaction has the potential to be a significant value-creating opportunity for Galaxy and Orocobre shareholders,” said Galaxy Resources chairman, Martin Rowley, the new company’s non-executive chairman. Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. “The merger consolidates the combined group’s position in Argentina and provides an opportunity to build on a strong platform there and in our other key jurisdictions globally, including Australia, Japan and North America,” de Solay said.
It was listed on the Australian Securities Exchange until it merged with fellow lithium producer Orocobre in August 2021 to form Allkem. The 292,598,572 newly issued Orocobre shares are trade360 on the app store expected to commence trading on ASX on a normal settlement basis from Thursday, 26 August 2021. Orocobre announced that all approvals have been granted to complete the merger, which consolidates the two companies’ lithium portfolios, including assets in Argentina, Australia, Japan and North America. Galaxy Resources Limited engages in the production of lithium concentrate and exploration of minerals in Australia, Canada, and Argentina. Galaxy Resources recently completed a feasibility study for its Sal de Vida lithium carbonate project in Argentina, and operates the Mt Cattlin spodumene concentrate project in WA.
Operations
Galaxy Resources chief executive, Simon Hay, steps into a new role with the merged company as president of international business reporting to the chief executive. The merger will unlock significant synergies for the merged company, create a diversified production base, and realise significant value for shareholders, said the companies. “The logic of this merger is compelling,” said Orocobre chairman, Robert Hubbard, who becomes deputy chairman of the new merged company. Galaxy Resources and Orocobre have completed their merger and will rebrand as Allkem, setting the stage for the creation of one of the world’s largest lithium companies.
Benefits to Galaxy Resources shareholders
Orocobre’s and Galaxy Resources’ boards have agreed to the merger through a Galaxy Scheme of Arrangement subject to no competing proposal appearing for the company. The new company is expected to be included in the ASX 200 index and approaches the market value threshold for inclusion in the ASX 100 index. There is no difference, but the notation $g(x;y)$ suggests that we are going to think sorrento therapeutics stock could more than double, says analyst of $y$ as a parameter. It would have been ok to use the notation $g(x,y)$ instead, and some authors do this when discussing Green’s functions. Sign-up to receive the latest news and ratings for Galaxy Resources and its competitors with MarketBeat’s FREE daily newsletter.
ASX share price for Galaxy Resources (ASX:GXY), IGO (ASX:IGO), Orocobre (ASX:ORE) and Pilbara Minerals (ASX:PLS)
The boards of the two companies have signed a binding Merger Implementation Deed whereby Orocobre will acquire 100 per cent of the shares of Galaxy Resources. Orocobre Deputy Chairman Rob Hubbard said that he welcomed Mr Rowley, Ms Heredia, Mr Turner and Mr Fitzpatrick to the Orocobre Board and looked forward to working with them. He also said, “that each of the retiring directors has made unique and valuable contributions throughout the Orocobre journey that has led to today’s merger.
Galaxy operates the Mt Cattlin lithium operation in Western Australia and produced 109,909 tonnes of lithium concentrate in the first half of 2021. The ASX lithium sector has seen some takeover activity in the past year as companies seek economies of scale and project synergies in order to get positioned for the next boom. A new name has yet to be selected for the new merged company which will have its head office in Buenos Aires, Argentina, and a corporate headquarters on Australia’s east coast.