Metals & Minerals News

Altus-Elemental merger receives court sanction

Altus Strategies plc’s share-for-share merger of equals with Elemental Royalties Corp has received court sanction. TIMETABLE The companies first announced the agreement in June and received shareholder approval on 8 August. Altus said that the High Court of Justice of England and Wales had today made an order sanctioning the scheme under section 899 of […]

Legal News Oil & Gas

Hurricane refused court approval for restructure

Hurricane Energy plc said that the High Court had today refused to sanction its proposed restructuring plan. RISK The company added that its existing board was considering all options including an appeal. “Unless the company or the Ad Hoc Committee successfully appeals the judgment, the restructuring plan will not be implemented,” said Hurricane in a […]

Finance Legal News Oil & Gas

Hurricane bondholders back restructure

Hurricane Energy plc’s bondholders today voted 100% to support the company’s restructuring plan while the majority of shareholders voted against it. Shareholder votes in favour were reported at 7.66% compared with 92.34% opposing the plan. The company said that 1,518,667 votes were withheld and 32.87% of the issued share capital voted. Hurricane added that because […]

Legal Metals & Minerals News

WCM starts legal process over coal mine decision

West Cumbria Mining Ltd (WCM) has started the process for a judicial review over the local council’s decision to reconsider plans for a metallurgical coal mine under the Irish Sea. Cumbria County Council has three times approved the application for Woodhouse Colliery off the coast of Whitehaven. Secretary of State Robert Jenrick has twice refused […]