Arcadium Lithium (NYSE: ALTM) Shareholders Approve Rio Tinto Transaction

Arcadium Lithium plc (NYSE: ALTM) recently held special meetings with its shareholders, resulting in the approval of a proposed transaction with Rio Tinto BM Subsidiary Limited. The meetings, including a Scheme Meeting and an extraordinary general meeting, were convened on December 23, 2024, each playing a pivotal role in the company’s future.

Under this transaction, all ordinary shares of Arcadium, valued at $1.00 per share, are set to be transferred to Rio Tinto BM Subsidiary Limited. Shareholders will receive cash consideration amounting to $5.85 per share. The special meetings saw significant shareholder representation, indicating a consensus on the proposed transaction’s merits.

As of the record date, November 18, 2024, there were 1,075,658,355 Company Shares eligible to participate in the voting process. The Scheme Meeting witnessed the presence of shareholders holding approximately 67.17% of the issued Company Shares, while the Company GM had a representation of around 66.27% of the issued Company Shares.

During the Scheme Meeting, the scheme of arrangement was approved in its original form, with the required majority of votes in favor. Similarly, the Compensation Proposal at the Company GM received approval from the majority of shareholders, endorsing golden parachute compensatory arrangements related to the transaction.

Additionally, the Scheme and Articles Amendment Proposal garnered approval, allowing the directors to take necessary actions to execute the arrangement effectively.

In conjunction with these developments, Arcadium Lithium issued a press release on December 23, 2024, outlining the results of the special meetings. The press release emphasizes the strategic significance of the proposed transaction with Rio Tinto and its anticipated benefits for shareholders and stakeholders.

Looking forward, Arcadium Lithium anticipates further regulatory approvals and conditions before the transaction’s anticipated completion in mid-2025. The company remains committed to ensuring a seamless transition and creating value for its investors and stakeholders.

It is imperative to note that forward-looking statements within the press release are subject to inherent risks and uncertainties, as outlined in Arcadium’s filings with the Securities and Exchange Commission.

For further details on the shareholder approval and transaction progress, interested parties can access the full press release via the company’s official website or regulatory filings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Arcadium Lithium’s 8K filing here.

Arcadium Lithium Company Profile

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.