Dundee Precious shareholders OK Adriatic acquisition

Executive Summary

• Dundee Precious Metals Inc. received overwhelming shareholder approval (>99.7% of votes cast) to acquire Adriatic Metals PLC via a scheme of arrangement.
• Shareholders also approved changing the company’s name to DPM Metals Inc. (or another name as directed by the board).
• The acquisition is pending High Court sanction (hearing scheduled for 2025‑08‑29) and is expected to become effective on 2025‑09‑03.

Key Details

• Shareholder voting results:
• Acquisition vote – 122,182,683 shares voted (≈73.19% of issued/outstanding), with >99.7% approval of votes cast.
• Name‑change vote – 125,583,567 shares voted (≈75.23% of issued/outstanding), with >99.7% approval of votes cast.
• Acquisition structure: Issuance of Dundee Precious common shares to acquire the issued and to be issued ordinary shares of Adriatic Metals PLC under a scheme of arrangement pursuant to Part 26 of the Companies Act (UK).
• Name change: Articles of incorporation will be amended to rename Dundee Precious Metals Inc. to “DPM Metals Inc.” or another name approved by the board, subject to regulatory approval.
• Adriatic Metals shareholder approval: Adriatic has obtained requisite shareholder approvals at its own court and general meetings held earlier on the same day.
• Regulatory/completion conditions:
• High Court of Justice (England & Wales) hearing scheduled for 2025‑08‑29.
• Delivery of the court order to the Registrar of Companies in England & Wales.
• Satisfaction or waiver of other conditions set out in Part 3 of the scheme document (published by Adriatic on 2025‑07‑14).
• Expected effective date: The scheme is anticipated to become effective on 2025‑09‑03, pending court approval and fulfillment of conditions.

Notable Quotes

(No direct quotes were provided in the release.)