Altus Strategies plc said it had gained majority shareholder approval for its proposed merger with Elemental Royalties Corp.
MAJORITY
Once completed Elemental shareholders will own 52.9% and Altus shareholders 47.1% of the enlarged mining royalty company Elemental Altus Royalties Corp.
Each company will nominate four directors to the board for a total of eight.
The chief executive officer will be Frederick Bell and the executive chairman will be Altus’ current CEO Steven Poulton.
In June 2022, the boards of each company agreed terms of the recommended share-for-share merger, with Elemental acquiring Altus’ share capital.
The merger will be put to shareholders by a court-sanctioned scheme of arrangement under Part 26 of the Companies Act.