Prime Minister Zenica-Doboj Canton Nezir Pivić and the Cantonal Minister of Economy Samir Šibonjić were hosted by the Executive Director of the Corporate Affairs of Adriatic Metals BiH Sanel Karić. The topic of conversation was an agreement with the company Dundee Precious Metals Inc. from Canada on the conditions of taking over all joint ventures and ownership of Adriatic Metals PLC From the United Kingdom, which will be realized through the British Modeling Model.
– Our wish is that Zenica-Doboj Canton becomes one of the most desirable investment regions in this part of Europe. Serious world investors see this investment in Vareš only as a beginning. It is important to send a clear message, both the public in Bosnia and Herzegovina, and throughout Europe and the world, to remain open for large investments – and that this example is the direction we need to go further – said Prime Minister Nezir Pivić.
Sanela Karić, Executive Director of the Corporate Affairs of BiH, which has been engaged in this project for five years, has said that it was with great satisfaction to clarify the details of the acquisition, which last Friday was published on the London Stock Exchange.
– This acquisition will last for the next three to four months, to its full implementation. Of course, its completion is conditioned by the consent of the Assembly of both companies in Canada and the UK. What this acquisition brings us is new investments in Vareš, intensifying research activities, job creation and expansion of production capacities. By connecting with a group that is worth more than five billion US dollars, great development opportunities are opened, “Karić said.
She emphasized that “we must understand that, despite the challenges through which Canton, the Federation of BiH and the countries of Bosnia and Herzegovina, has recognized the project in Vareš as a valuable development – with a vision of development in the next 30 years.”
– I’m looking forward to being fully understood by Prime Minister Pivic and Minister Sibonjic and support and support, because they recognize the value of this project and the need for his further development. This should remain a sample example for other foreign investors who want to invest, primarily in Zenica-Doboj Canton, and then in the entire Federation – Karić pointed out.
She added that the company remains affectionate with all the previously agreed obligations to the canton.
We reminded, Adriatic Metals and Dundee Precious metals have reached an agreement on Adriatic Metals PLC (UK) acquisition, worth $ 1.256 billion.
The transaction is expected to result in increasing the scope of business and market liquidity, greater market importance, better financial flexibility and lower capital costs. Greater market capitalization could attract the expanding circuit of investors and greater analytical coverage, which could positively affect the value of the shares after the transaction conclusion.
Dundee Precious Metals plans a payment that includes about 34.7% cash and 65.3% in the new company’s new shares, through the so-called Mix & MatchPayment models (combined selection).
Upon completion of the transaction, the increased capital of Dundee Precious Metals Canada will be owned by approximately 75.3% of the existing shareholders of Dundee PM and 24.7% former shareholders Adriatic Metals PLC (UK).
