Lion’s Plan
Lion has announced a plan to realise a superior outcome for Shareholders and Optionholders, compared with the Indophil Offer. Under this Plan, your Directors intend to:
- Generate in excess of $199 million in cash through the proposed sale of Lion’s key investments in Indophil and Cracow at attractive values and through the planned realisation of the African Lion’s stake in Albidon.
- Create cash reserves of approximately $300 million through the combination of these asset sales, and existing cash reserves.
- Provide a major cash return to Shareholders of at least $267 million or $1.35 per share.
- Retain and actively manage a portfolio of early stage mining and exploration companies, with an initial NTA of $136 million or 69 cents per share.
- Explore all initiatives to ensure full value is recognised for the remaining portfolio.
The Lion Plan could potentially deliver shareholders in excess of $2.05 per share, with the majority in cash. This is a 52% premium to the Lion share price on the date on which the Indophil Offer was announced.
Full details of the Lion Plan are contained in Lion’s Target’s Statement.