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EQS-News: SunMirror AG: MINIMUM ACCEPTANCE CONDITION NOT FULFILLED – INVESTOR DOES NOT PAY AS AGREED – TAKEOVER PROCEEDINGS LATITUDE 66 COBALT LIMITED ENDED UNSUCCESSFULLY

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EQS-News: SunMirror AG / Key word(s): Miscellaneous
SunMirror AG: MINIMUM ACCEPTANCE CONDITION NOT FULFILLED – INVESTOR DOES
NOT PAY AS AGREED – TAKEOVER PROCEEDINGS LATITUDE 66 COBALT LIMITED ENDED
UNSUCCESSFULLY

13.07.2022 / 12:03
The issuer is solely responsible for the content of this announcement.

══════════════════════════════════════════════════════════════════════════

MINIMUM ACCEPTANCE CONDITION NOT FULFILLED – INVESTOR DOES NOT PAY AS
AGREED – TAKEOVER PROCEEDINGS LATITUDE 66 COBALT LIMITED ENDED
UNSUCCESSFULLY

 

Zug, Schweiz: 13.07.2022. The acquisition of Latitude 66 Cobalt Limited
(„Lat66“) pursued by SunMirror AG („SunMirror“; Xetra; Vienna: ROR1; ISIN
CH0396131929) ended unsuccessfully on 12.07.2022 (AEST), as the minimum
acceptance condition (90% acceptance, by number, of all Lat66 shares) was
not fulfilled at the end of the offer period, being July 12, 2022 (“Offer
Period”). Until the very end of the Offer Period, SunMirror attempted to
meet the agreed requirement to raise EUR 70 million of additional capital
within the agreed and repeatedly extended timeframe. Unfortunately, this
did not succeed because only part of the EUR 70 million subscribed as part
of the capital increase was paid by the investor.

Strategically, SunMirror is now focusing all its efforts on reducing
overheads and expenses wherever possible and investing available funds
primarily in the value-add development of its existing Australian resource
projects.

 

 

About SunMirror AG

The SunMirror Group invests in strategic exploration projects with a focus
on green battery metals such as cobalt, lithium and nickel, as well as
iron ore and gold deposits in developed markets. The aim is to either mine
metals itself or sell these projects to strategic buyers at a later stage.
In doing so, SunMirror differentiates itself from other market
participants through a mine-to-market sustainability approach across the
entire value chain and thus becomes the originator of best practice in the
mining sector.

 

The Company’s shares (ISIN CH0396131929) are listed on the Vienna Stock
Exchange (official trading, ticker: ROR1) and on the OTC markets of the
Frankfurt Stock Exchange, the Düsseldorf and Berlin stock exchanges
(ticker: ROR) and are also traded on and Xetra. Further information can be
found at: www.sunmirror.com.

Contact

Dr. Reuter Investor Relations
Dr. Eva Reuter

Office Frankfurt
Friedrich Ebert Anlage 35-37
Tower 185
60327 Frankfurt – Germany
Tel: +49 (0) 69 1532 5857

Office Münster
Oststrasse 12b
48145 Münster – Germany

 

══════════════════════════════════════════════════════════════════════════

13.07.2022 This Corporate News was distributed by EQS Group AG.
www.eqs.com

══════════════════════════════════════════════════════════════════════════

Language: English
Company: SunMirror AG
Steinhauserstrasse 74
6300 Zug
Switzerland
E-mail: [email protected]
Internet: https://www.sunmirror.ch
ISIN: CH0396131929
WKN: A2JCKK
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Tradegate Exchange; Vienna Stock Exchange (Official Market)
EQS News ID: 1397233

 
End of News EQS News Service

1397233  13.07.2022 

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender

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