Paringa is due to receive shareholders approval, which will be determined next week following the general meeting of shareholders.
The conditions include Paringa receiving completed share transfer forms from the Hartshorne vendors, including at least 90% of the Hartshorne vendor shares as well as Paringa and the Hartshorne vendors receiving all statutory and regulatory approvals to complete the transaction.
Additionally, Paringa’s shareholders passing all resolutions as are required under the Listing rules, the constitution of Paringa and the Corporations Act to give effect to the transaction.
Hartshorne operates export thermal and coking coal projects in the US including Buck Creek thermal coal project covering an area of over 31,000 acres in the high growth Illinois Coal basin in Kentucky and the Arkoma coking project in the Arkoma basin in Arkansas, according to proactiveinvestors.com.au.
