Maverix Metals Inc (TSX:MMX) said it has received positive recommendations in support of its proposed takeover by Triple Flag Precious Metals Corp announced on November 10, 2022, from two independent proxy advisory firms.
Institutional Shareholder Services Inc (ISS) and Glass Lewis & Co LLC have both recommended that Maverix shareholders vote in favour of the arrangement. ISS and Glass Lewis are independent, third-party, proxy advisory firms which provide voting recommendations to institutional shareholders.
A special meeting of Maverix shareholders to approve the arrangement is scheduled to be held virtually on January 12, 2023.
READ: Maverix Metals' link with Triple Flag has merits, Stifel says
In addition to the receipt of the requisite approval of the Maverix shareholders, the completion of the arrangement is subject to final approval of the arrangement by the Ontario Superior Court of Justice (Commercial List) and the satisfaction or waiver of the other customary conditions to completion of the arrangement.
Under the plan of arrangement involving Maverix and Triple Flag, shareholders of Maverix may elect to receive, in respect of each Maverix share, at the effective time of the arrangement, either: (i) US$3.92 in cash; or (ii) 0.360 of a Triple Flag share. The election deadline is 5.00pm Toronto time on January 9, 2023.
If shareholders have any questions in connection with the special meeting, the company said they can contact the company's proxy solicitation agent and strategic shareholder adviser, Laurel Hill, at 1-877-452-7184 (North American toll-free), 416-304-0211 (calls outside North America) or by email at assistance@laurelhill.com.
Maverix Metals is a gold-focused royalty and streaming company with a globally diversified portfolio of over 140 assets. The company's mission is to increase per-share value by acquiring precious metals royalties and streams.
Contact the author at jon.hopkins@proactiveinvestors.com