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Thoughts on SBM please

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Thoughts on SBM please

Hi Team, I understand that SBM are in suspension and potentially will end that on the 17th April. However I am concerned about this clause in the announcement dated 13th April (The Company has not concluded discussions on the potential adjustment to the structure of the Proposed Transaction however discussions between the parties are progressing.) Could you tell me what happens to shareholdings if their deal with Genesis doesn't go through please? And if SBM go bust where do shareholders stand? Thank you.

Answer

Hi Maureen,

There’s been little in the way of detail since St Barbara (SBM) went into trading halt last week however news broke on Friday regarding a capital raise from acquirer Genesis (GMD) to fund a recut deal.

The clause mentioned is largely standard for shares with transaction conversations ongoing. As per the latest from the company, we expect an update on the deal this Monday.

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St Barbara Ltd (SBM)
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