Silvercorp Clarifies OreCorp Offer Intentions

Core Viewpoint - Silvercorp Metals Inc. intends to file a third supplementary bidder statement indicating it will not waive its 50.1% minimum acceptance condition for its off-market takeover bid for OreCorp Limited [1][2][3] Group 1: Offer Details - The Offer consists of 0.0967 common shares of Silvercorp and A$0.19 cash per OreCorp share [1] - The Offer is open for acceptances until 7:00 pm (Sydney time) on 22 March 2024, unless extended or withdrawn [1] Group 2: Shareholder Protection - By not waiving the Condition, OreCorp shareholders who accept the Offer will have assurance that if the Condition is not met, they will retain their OreCorp shares [2] - If the Offer period is extended beyond one month, shareholders who accepted the Offer prior to the extension can withdraw their acceptance and keep their shares [2] Group 3: Strategic Intent - Silvercorp aims to enhance the attractiveness of its Offer by providing OreCorp shareholders with the opportunity to realize the current superior value of the Offer while protecting their interests [3] - The company believes maintaining the Condition will facilitate a timely resolution to the Offer [3] Group 4: Company Overview - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy centered on generating free cash flow, organic growth, and ongoing merger and acquisition efforts [5]