Newcrest Mining Ltd. Announces Scheme Becomes Effective
Scheme becomes effectiveMelbourne, October 17, 2023 - Newcrest Mining Ltd. (ASX: NCM) (TSX: NCM) (PNGX: NCM) announces that the scheme of arrangement under which Newcrest will be acquired by Newmont Corp. (via its subsidiary, Newmont Overseas Holdings Pty Ltd) is now legally effective.
Newcrest today lodged the orders of the Federal Court with the Australian Securities and Investments Commission pursuant to the Corporations Act.
As disclosed in the Scheme Booklet dated 7 September 2023 (released to the ASX, PNGX and TSX (via SEDAR) on 8 September 2023), Newcrest shares will continue to trade on the ASX, PNGX and TSX until close of trading on 26 October 2023.
Newcrest shareholders should note the implications of the timetable set out below.
Entitlement to Special Dividend
Newcrest announced a Special Dividend of US$1.10 per Newcrest share on 5 October 2023. This dividend will be fully franked.
The record date for the dividend will be 7.00pm (Melbourne time), 19 October 2023 and it will be paid on 27 October 2023.
Entitlement to Scheme Consideration
Newcrest shares acquired on the ASX, PNGX and TSX until trading ceases on 26 October 2023 will carry entitlement to the Scheme Consideration of 0.400 Newmont securities per Newcrest share, provided they are held on the Scheme Record Date of 7.00pm (Melbourne time), 30 October 2023.
On implementation of the Scheme, eligible Newcrest shareholders who are registered on the:
- Australian share register on the Scheme Record Date, will receive Newmont CHESS depositary interests (Newmont CDIs);
- PNG share register on the Scheme Record Date, will receive Newmont PETS depositary interests (Newmont PDIs); and
- Canadian share register on the Scheme Record Date, will receive Newmont shares (Newmont Shares).
In order to be entitled to both the Special Dividend and the Scheme Consideration, Newcrest shareholders must hold their Newcrest shares on both the Special Dividend Record Date and Scheme Record Date. See section 4.6 of the Scheme Booklet for further details.
Timetable
The remaining key dates of the Scheme are set out below.
| Event | Date |
| Special Dividend Record Date For determining entitlements to the Special Dividend Newcrest shares on the TSX will trade ex-dividend from commencement of trading on Thursday, 19 October 20231 | 7.00pm, Thursday, 19 October 20232 |
| Last day to reposition Newcrest shares between the Australian, Canadian and Papua New Guinean registers | Thursday, 26 October 2023 |
| Last day of trading in Newcrest shares Newcrest shares will be suspended from trading on the ASX, PNGX and TSX from close of trading3 | Thursday, 26 October 2023 |
| Newmont CDIs listed on the ASX First day trading in Newmont CDIs on the ASX (on a deferred settlement basis) (ASX: NEM) | Friday, 27 October 2023 |
| Newmont PDIs listed on the PNGX First day trading in Newmont PDIs on the PNGX (on a deferred settlement basis) (PNGX: NEM) | Friday, 27 October 2023 |
| Special Dividend Payment Date Date on which the Special Dividend will be paid | Friday, 27 October 2023 |
| Scheme Record Date For determining entitlements to Scheme Consideration | 7.00pm, Monday, 30 October 2023 |
| Implementation Date Issue of Scheme Consideration completed4 | Monday, 6 November 2023 |
| Commencement of trading - Newmont Shares Commencement of trading of Newmont Shares issued under the Scheme on NYSE and TSX | Monday, 6 November 2023 (New York time) |
| Commencement of normal trading - Newmont CDIs Holding statements for Newmont CDIs dispatched Commencement of normal trading of Newmont CDIs on the ASX (ASX: NEM) | Tuesday, 7 November 2023 |
| Commencement of normal trading - Newmont PDIs Holding statements for Newmont PDIs dispatched Commencement of normal trading of Newmont PDIs on the PNGX (PNGX: NEM) | Tuesday, 7 November 2023 |
| DRS statements - Newmont Shares DRS statements for Newmont Shares dispatched | Monday, 13 November 2023 |
Unless otherwise indicated, all times and dates in the above timetable are references to the time and date in Melbourne, Australia and all such times and dates are subject to change. Any changes will be announced by Newcrest to the ASX, PNGX and TSX (via SEDAR) and notified on Newcrest's website at www.newcrest.com.
Authorised by the Newcrest Board
For further information please contact
Investor Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au
Rebecca Lay
+61 3 9522 5298
+61 438 355 511
Rebecca.Lay@newcrest.com.au
North American Investor Enquiries
Vlada Cvijetinovic
+1 604 335 9202
+1 604 240 2998
Vlada.Cvijetinovic@newcrest.com.au
Media Enquiries
Celina Watt
+61 3 9522 4264
+61 436 677 220
Celina.Watt@newcrest.com.au
This information is available on our website at www.newcrest.com.
1 As described in the Special Bulletin published by the TSX on Friday, 13 October 2023 (Toronto time), the TSX has put in place mandatory special settlement rules that will apply to Newcrest shares trading on the TSX. In particular, all trades on the TSX on Wednesday, 18 October 2023 will settle the same day.
2 The Toronto time equivalent is 4.00am on Thursday, 19 October 2023. Accordingly, shareholders on Newcrest's Canadian share register will need to be registered on the Newcrest share register on Wednesday, 18 October 2023 (Toronto time) in order to remain on the register for the Special Dividend Record Date.
3 The TSX has granted permission for Newcrest shares to trade on a T+1 basis during the course of trading on Wednesday,
25 October 2023 and on a T+0 basis during the course of trading on Thursday, 26 October 2023. Non-registered holders of Newcrest shares on Newcrest's Canadian share register should note that full restrictions will be imposed by each of CDS and the Depository Trust Company over Newcrest shares on and from 4.30pm on Friday, 27 October 2023 (New York time) such that there cannot be any trades or withdrawals prior to the Scheme Record Date. These holders should refer to the bulletins published by each of CDS and the Depository Trust Company for further details on trading limitations that may be imposed.
4 Newmont shares issued under the Scheme will be issued following close of trade on Friday, 3 November 2023 (New York time), being the business day prior to the Implementation Date