Adriatic Metals PLC (ASX:ADT) has announced that the condition relating to Bosnian competition clearance for its proposed acquisition by Dundee Precious Metals Inc. has been satisfied. Adriatic Metals is a mineral exploration and development company focused on advancing its portfolio of projects, including the Vares silver project in Bosnia and Herzegovina. The company’s board acknowledged the announcement made by Dundee Precious Metals confirming the approval of the acquisition by the Competition Council of Bosnia and Herzegovina, in accordance with the Bosnian Competition Act.
The acquisition, initially announced on June 13, 2025, is intended to be effected through a court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. Key terms used in the announcement are defined in the scheme document published by Adriatic Metals on July 14, 2025.
Completion of the acquisition remains subject to several conditions, including approval of the scheme by scheme shareholders at the Court Meeting, the passing of a special resolution by Adriatic ordinary shareholders at the General Meeting, and the passing of the DPM Shareholder Resolution at the DPM Special Meeting. These meetings are all scheduled for August 13, 2025. The acquisition is also contingent on the Court sanctioning the Scheme at the Court Sanction Hearing and the satisfaction or waiver of remaining conditions outlined in the scheme document.
An indicative timetable of principal events has been outlined, with critical dates including the CDI Holder Voting Record Time on August 7, 2025, and various deadlines for lodging voting instruction forms and proxy forms. The court sanction hearing is expected to occur as soon as reasonably practicable after the satisfaction of the conditions. Trading in Adriatic CDIs on the ASX is expected to be suspended at 4:00 p.m. (AEST) on the business day prior to the date of the court sanction hearing.
