Trident Royalties PLC, a growth-focused mining royalty and streaming company, has announced that the previously reported scheme of arrangement has become effective. The Trident Board and Audley Mining Advisors were pleased to confirm the completion of this proposed buy-out of Trident by the latter in a deal that sees Trident become a wholly-owned subsidiary of Audley.
The Scheme of Arrangement was sanctioned by the High Court of Justice in England and Wales and received the necessary shareholder and court approvals in December 2020. The shareholders of Trident Royalties PLC voted overwhelmingly to approve the Scheme at the Court Meeting and General Meeting held on 11th December 2020. The scheme took effect on 22nd December 2020, with the suspension of trading in Trident shares on AIM, a sub-market of the London Stock Exchange, and their subsequent cancellation.
Under the terms of the Scheme, shareholders will receive one New Audley Share for every one share they hold in Trident. The Scheme will result in a significant re-organization and an enhancement of Trident’s royalty and streaming portfolio. It’s a strategic move designed to offer investors greater exposure to a broad range of commodities and geographies, and could potentially provide a stronger platform for the company’s future development and growth.
Audley Mining Advisors, the acquisition party, is optimistic about the path forward. The successful completion of the Scheme of Arrangement paves the way for the expansion of their mining royalty and streaming business as it helps to consolidate Audley’s position in the sector. Trident’s unique strategy of obtaining diversified royalty and streaming agreements from various resources and different stages of the life cycle, complemented by Audley’s technical expertise and sector-focused investment approach, synergistically positions the newly consolidated entity for strong growth.
The significance of the transition is underscored by the fact that Trident is one of the few royalty companies that offer investors exposure to all major commodities, including copper, iron ore, gold, PGM metals and others, whilst maintaining a substantial growth trajectory, which aligns closely with Audley’s own strategic approach.
It is imperative to understand that with this organizational change, the focus is primarily on enhancing the long-term value for shareholders. As the Scheme has now become effective, the board of directors will be re-constituted and will consist of representative directors from Audley alongside Trident’s management. The team is committed to expanding their royalty and streaming portfolio to generate stable cash flow and sustainable growth.
Undeniably, the completion of the Scheme of Arrangement, which was a critical milestone for both Trident Royalties and Audley Mining Advisors, represents a step forward in the evolution of the companies involved. It exhibits the potential for more growth and delivers a clear strategy aimed at optimizing operational efficiency while strengthening investment returns. As the Scheme becomes effective and Trident becomes a wholly-owned subsidiary of Audley, a new chapter in the companies’ histories unfolds, bearing the promise of a prosperous future.