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OceanaGold Corporation (ASX code: OGC) – Voluntary delisting from the ASX
OceanaGold Corporation (OceanaGold or the Company) (TSX: OGC) (ASX: OGC) has requested and
received formal approval from the Australian Securities Exchange (ASX) to be removed from the official
list of the ASX (Official List) pursuant to ASX Listing Rule 17.11 (Delisting).
This letter seeks to provide you, as a holder of CHESS Depositary Interests of the Company (CDIs),
with information about the Delisting process, the options available to you in connection with your holding
of CDIs and certain implications which may arise for you as a result of the Delisting. Full details on the
options available to you in respect of your CDIs are set out in Section 5.
The information in this letter does not take into account your individual investment objectives, financial
situation and needs. The information in this letter is of a general nature and is not financial product
advice and should not be relied upon as the sole basis for any investment decision. As a CDI holder,
you should consult your financial, legal, tax or other professional advisor in relation to the information
contained in this letter and how you should act with respect to your holding of CDIs.
1. What are CDIs?
In Australia, the securities of the Company are listed on the ASX in the form of CDIs. Each CDI
represents a beneficial interest in a common share in the Company (Share). CDI holders do not hold
direct legal title to the Shares, which is held for and on behalf of CDI holders by CHESS Depositary
Nominees Pty Ltd. This structure exists because OceanaGold is a Canadian company with an ability to
trade securities on the ASX by way of CDIs.
2. Why is OceanaGold delisting from the ASX?
OceanaGold is seeking to delist from the ASX due to the ongoing low trading frequency, low volumes
traded and limited index inclusion of CDIs traded on the ASX as compared to that of the Toronto Stock
Exchange (TSX). The percentage of CDIs held on the Australian register has declined to approximately
7.5% of the Company’s total issued share capital as of 30 June 2022.
The Company believes that the financial, administrative and compliance obligations and costs
associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a
whole. The ASX delisting is also expected to lead to an increase in the Company’s trading liquidity on
the TSX.
3. What are the consequences of Delisting?
The main consequence of OceanaGold’s delisting for CDI holders is that, from the time the Delisting
takes effect on 31 August 2022, CDIs will no longer be quoted or traded on the ASX.
OceanaGold will maintain its listing of Shares on the TSX under the trading symbol ‘OGC’. Trading of
Shares on the TSX will continue, uninterrupted, during and after the Delisting.
OceanaGold will remain incorporated in British Columbia, Canada. Copies of OceanaGold’s press
releases and other corporate information will continue to be available on sedar.com as well as the
Company’s website at www.oceanagold.com.
4. What is the Delisting process and timetable?
(a) Delisting process
Suspension of CDIs from ASX trading and delisting
CDI holders will continue to be able to trade their CDIs on the ASX until the close of trading on the
Suspension Date, when trading in CDIs will be suspended. Following suspension of CDIs from
quotation, CDI holders will no longer be able to trade their CDIs on the ASX. It is expected that two
business days following the suspension of trading of CDIs, OceanaGold will be removed from the
Official List.
Holders of TSX listed Shares will no longer be able to convert their Shares into ASX listed CDIs from
the date of OceanaGold’s announcement of the Delisting on 29 July 2022.
Conversion of CDIs into Shares
Until the closing date of the Voluntary Sale Facility, CDI holders will continue to be able to request to
convert their CDIs into TSX listed Shares held on the Canadian share register.
Voluntary Sale Facility
In conjunction with the Delisting, the Company will establish a sale facility through which CDI holders
will be able to elect to exit their CDI holding through the sale of the Shares underlying their CDIs on the
TSX (without incurring any brokerage or any related costs, levies or fees) (Voluntary Sale Facility).
Shortly after the Delisting Date, CHESS Depositary Nominees Pty Ltd will revoke the trust under which
it holds the Shares underlying the CDIs. At this point, the CDIs will no longer exist. However, until
closure of the Voluntary Sale Facility, CDI holders will still be able to request to become the registered
3
holder of the underlying TSX listed Shares on the Canadian share register.1
The Voluntary Sale Facility
is expected to operate from 7 September 2022 to 7 November 2022.
Compulsory Sale Process
Following closure of the Voluntary Sale Facility, the Shares underlying any remaining holdings of CDIs
will be sold under a compulsory sale process by default (Compulsory Sale Process). The Compulsory
Sale Process is expected to be conducted from 8 November 2022 until 8 December 2022.
(b) Indicative dates for the Delisting process
The table below sets out an indicative timeline for the Delisting process.
Date Event
29 July 2022 OceanaGold announces the Delisting on the ASX.
This letter is sent or emailed to CDI holders containing details of the
Delisting and information on the options available to CDI holders.
OceanaGold suspends the ability for new CDIs to be issued.2
29 July 2022 –
29 August 2022
Notice Period - during this time, you may still:
request to convert CDIs into TSX listed Shares (and continue to do so
until the closing date of the Voluntary Sale Facility as detailed below); and
sell CDIs on the ASX.
29 August 2022
(at close of trading)
Suspension Date - effective date of suspension in trading of CDIs on the
ASX.
CDI holders will not be able to trade CDIs on the ASX after this date.
31 August 2022
(at close of trading)
Delisting Date - effective date of removal of OceanaGold from the Official
List.
7 September 2022 Opening date of the Voluntary Sale Facility.
7 November 2022 Closing date of the Voluntary Sale Facility.
Last date for CDI holders to request to become the registered holder of
the underlying TSX listed Shares.
8 November 2022 Opening date of the Compulsory Sale Process.
8 December 2022 Closing date of the Compulsory Sale Process.
All dates and times in this letter refer to Australian Eastern Standard Time / Australian Eastern Daylight
Savings Time (as applicable). These dates and times are indicative only and subject to change.
OceanaGold will announce any amendment to those dates and times.
1
For simplicity, this letter refers to the ability of CDI holders to request to become the registered holder of the underlying TSX
listed Shares on the Canadian share register as ‘conversion of CDIs into Shares’.
2
OceanaGold has been granted a waiver of ASX Settlement Operating Rule 13.9.9 to allow OceanaGold to suspend the issue
of new CDIs during the period commencing on the date of announcement of the Delisting until the date OceanaGold is officially
delisted from the ASX.
Samples/000001/000002
*I00000102*
4
5. What are my options?
As a holder of CDIs, you have the following options in respect of the Delisting, which you should carefully
consider before deciding what to do with your CDIs. If you do nothing, then Option 4 will apply by default.
OPTION 1: Elect to convert your CDIs into TSX listed Shares
You have an existing right to convert your CDIs into the underlying Shares listed on the TSX on a 1:1
basis, which will continue up until the closing date of the Voluntary Sale Facility (expected to be 7
November 2022).
CDI holders, depending on their own arrangements, can request that the underlying Shares are either:
i) deposited with their stockbroker in the Canadian Depository for Securities (CDS); or
ii) registered directly in their own name in book-entry form on the Canadian share register in the
Direct Registration System (DRS).
As outlined in Section 6, CDI holders should verify if their current stockbroking arrangements are
suitable to allow them to trade Shares on the TSX.
CDI holders will not be charged any fees by the Company if they convert their CDIs into the underlying
Shares (however, if the CDI holder uses a stockbroker or market participant to effect the conversion,
they may be charged a fee).
(a) How to convert CDIs into TSX listed Shares – on or before the Delisting Date
Issuer sponsored holders
Issuer sponsored holder numbers are prefixed with an ‘I’, and are referred to as Securityholder
Reference Numbers (SRN).
To convert their CDIs into Shares, issuer sponsored holders should complete a CDI cancellation form
and return this (together with a certified copy of their identification documentation where required) to
the Company’s Australian CDI registry, Computershare Investor Services Pty Limited
(Computershare), by post or email as provided on the form.3
The CDI cancellation form can be
downloaded from www-au.computershare.com/Investor/#Company.
CHESS holders
CHESS holder numbers are prefixed with an ‘X’, and are referred to as Holder Identification Numbers
(HIN).
To convert their CDIs into Shares, CHESS holders should contact their sponsoring Australian
CHESS participant, usually their broker, to request the conversion of their CDIs into TSX listed
Shares held in Canada.4
The process to convert CDIs into Shares is generally completed within two business days after receipt
by Computershare of a valid CDI cancellation request. You should not trade your Shares on the TSX
3
If the Shares are to be deposited into a Canadian brokerage account in CDS, the CDI holder’s Australian or Canadian broker
can assist them with providing the deposit information to be provided on the CDI cancellation form.
4
The CHESS participant will need to convert the CDIs onto the issuer sponsored sub-register before the CDI cancellation can
be processed, or if the CHESS participant is an xSettle user, they should complete an xSettle request and deliver the CDIs to
Computershare Clearing PID 20127.
5
until the conversion process has been completed, and the Shares are either deposited by your
Canadian stockbroker into your account or a DRS holding statement sent to your registered address.
(b) How to convert CDIs into TSX listed Shares – after the Delisting Date and before closure
of the Voluntary Sale Facility
If you remain a CDI holder as at the Delisting Date, you will be sent a personalised request form to
allow you to convert your CDIs, if you wish, into the underlying Shares, up until the closing date of the
Voluntary Sale Facility.
If you elect to convert your CDIs into the underlying Shares, you may then choose to hold those
Shares or sell them on the TSX at a later time (other than through the Voluntary Sale Facility) through
a stockbroker or financial advisor who can buy or sell shares on the TSX (subject to compliance with
TSX trading requirements). Any sale of Shares on the TSX not through the Voluntary Sale Facility will
be at your cost.
OPTION 2: Sell your CDIs on the ASX before the Suspension Date
You can sell your CDIs on the ASX at any time prior to the close of trading on the Suspension Date,
which is currently expected to be 29 August 2022. You should contact your stockbroker or financial
advisor to arrange the sale.
After the Suspension Date, you will not be able to sell your CDIs on the ASX.
If you elect to sell your CDIs on the ASX prior to the Suspension Date, you will be responsible for all
costs associated with the sale, including any broker commission.
OPTION 3: Participate in the Voluntary Sale Facility
If you remain a CDI holder as at the Delisting Date, you will be sent an election form (Sale Election
Form) shortly after the Delisting Date to enable you to elect to participate in the Voluntary Sale
Facility.
If you wish to participate in the Voluntary Sale Facility, you must complete and return the Sale Election
Form in accordance with the instructions on the form. Please note that if you elect to participate in the
Voluntary Sale Facility, unless you are a custodian or nominee holding CDIs on behalf of multiple
holders, you can only elect to sell all of the Shares underlying your CDIs (i.e. you cannot elect to sell
just a portion of your holding).
Under the Voluntary Sale Facility, OceanaGold will facilitate the transfer of the Shares underlying your
CDIs to OceanaGold’s appointed broker for the purpose of enabling the sale of the Shares underlying
your CDIs. Computershare will aggregate the elections into batches and the broker will, at its
discretion, effect the sale of the Shares in each batch on your behalf on the TSX.
Sale proceeds will be remitted to you in Australian dollars or New Zealand dollars based on the
average price of the Shares sold in the applicable batch and the relevant exchange rate at the time
of conversion (rounded down to the nearest cent). Individual CDI holders who would like to receive
their proceeds in other currencies are able to enrol in Global Wire (an international wire payment
service provided by Computershare) to receive their proceeds in their local currency. You will not
receive interest on any proceeds.
Samples/000001/000003
*I00000101*
6
To update your bank account details, or to provide a Global Wire instruction, please visit
www.computershare.com.au/easyupdate/OGC.
5
The Company will pay all brokerage and any related costs, levies or fees associated with the sale of
Shares on the TSX on behalf of participating CDI holders and remittance of sale proceeds (including
any foreign currency conversion fee) in connection with the Voluntary Sale Facility.
The Voluntary Sale Facility is expected to be open for participation from 7 September 2022 until 7
November 2022. Participation in the Voluntary Sale Facility is entirely voluntary and CDI holders are
not obliged to sell their securities through the facility.
OPTION 4: No action – Compulsory Sale Process (DEFAULT OPTION)
If you do nothing (i.e. do not proceed with Option 1, Option 2 or Option 3 above) by closure of the
Voluntary Sale Facility, which is expected to occur on 7 November 2022, the Shares underlying your
CDIs will be sold by default under the Compulsory Sale Process.
CHESS Depositary Nominees Pty Ltd has the power to sell the Shares underlying your CDIs pursuant
to the ASX Settlement Operating Rules. Under the Compulsory Sale Process, the Shares underlying
your CDIs will be aggregated with all other remaining CDI holdings and sold by OceanaGold’s
appointed broker on the TSX.
The sale mechanism and the process for calculating (and payment of) the proceeds of the sale of the
Shares underlying your CDIs under the Compulsory Sale Process will be the same as that for the
Voluntary Sale Facility outlined in Option 3 above in all material respects.
If you cannot be contacted, the sale proceeds from your Shares will be dealt with in accordance with
applicable unclaimed money laws.
The Company will pay all brokerage and any related costs, levies or fees associated with the sale of
Shares on the TSX in connection with the Compulsory Sale Process.
The Compulsory Sale Process is expected to be conducted from 8 November 2022 until 8 December
2022.
6. Trading Shares on the TSX
You can only trade Shares on the TSX if they are held through CDS. As such, to trade your Shares on
the TSX, you will need to independently establish an account with a broker in Canada (or an Australian
broker that has a relationship with a financial institution in Canada). If you hold your Shares through
DRS, you will not be able to trade your Shares on the TSX without first making independent
arrangements with a broker in Canada (or an Australian broker that has a relationship with a financial
institution in Canada) who can facilitate the electronic deposit of any Shares held in DRS into CDS in
order to facilitate trading on the TSX.
5 The Company strongly recommends you update your Australian or New Zealand bank account details recorded on the CDI
register, so that once the sale process has been completed, the payment can be made to you via an electronic funds transfer
rather than by cheque. Please note that if your registered address is in New Zealand, payment will be made via direct credit
only and payment will be withheld until bank account details have been provided.
7
7. Risks
There are risks associated with the sale of CDIs through the Voluntary Sale Facility and Compulsory
Sale Process. Your total proceeds will depend on the level of buyer demand, buyer pricing constraints,
trading volatility in OceanaGold’s Shares on the TSX, as well as the applicable exchange rate at the
time of conversion.
The impact of these factors for those that elect to participate in the Voluntary Sale Facility, or those that
did nothing and were subject to the Compulsory Sale Process, may be more or less adverse than if
they had elected another option.
Both OceanaGold’s Share price and the A$:C$ and NZ$:C$ exchange rates may fluctuate from time to
time and accordingly may impact, positively or negatively, the amount of sale proceeds you receive if
you wish to sell the Shares underlying your CDIs through the Voluntary Sale Facility or are subject to
the Compulsory Sale Process.
8. Tax implications
CDI holders will be responsible for any personal tax including personal income tax or capital gains tax
which results from the sale of the Shares underlying their CDIs through the Voluntary Sale Facility or
the Compulsory Sale Process.
The Company strongly encourages you to obtain your own tax advice based on your individual
circumstances before deciding which option to select. This letter does not purport to provide you with
any tax advice.
9. Further information
If you have any further queries about the Delisting, you can contact Computershare on 1300 850 505
(within Australia) or +61 3 9415 4000 (outside Australia) between 8.30am and 5.00pm (Australian
Eastern Standard Time / Australian Eastern Daylight Savings Time, as applicable).
You may also contact Investor Relations at OceanaGold in Canada via email on ir@oceanagold.com.
======================================================================================
DYOR
i hold OGC
OceanaGold Corporation (OceanaGold or the Company) (TSX: OGC) (ASX: OGC) has requested and
received formal approval from the Australian Securities Exchange (ASX) to be removed from the official
list of the ASX (Official List) pursuant to ASX Listing Rule 17.11 (Delisting).
This letter seeks to provide you, as a holder of CHESS Depositary Interests of the Company (CDIs),
with information about the Delisting process, the options available to you in connection with your holding
of CDIs and certain implications which may arise for you as a result of the Delisting. Full details on the
options available to you in respect of your CDIs are set out in Section 5.
The information in this letter does not take into account your individual investment objectives, financial
situation and needs. The information in this letter is of a general nature and is not financial product
advice and should not be relied upon as the sole basis for any investment decision. As a CDI holder,
you should consult your financial, legal, tax or other professional advisor in relation to the information
contained in this letter and how you should act with respect to your holding of CDIs.
1. What are CDIs?
In Australia, the securities of the Company are listed on the ASX in the form of CDIs. Each CDI
represents a beneficial interest in a common share in the Company (Share). CDI holders do not hold
direct legal title to the Shares, which is held for and on behalf of CDI holders by CHESS Depositary
Nominees Pty Ltd. This structure exists because OceanaGold is a Canadian company with an ability to
trade securities on the ASX by way of CDIs.
2. Why is OceanaGold delisting from the ASX?
OceanaGold is seeking to delist from the ASX due to the ongoing low trading frequency, low volumes
traded and limited index inclusion of CDIs traded on the ASX as compared to that of the Toronto Stock
Exchange (TSX). The percentage of CDIs held on the Australian register has declined to approximately
7.5% of the Company’s total issued share capital as of 30 June 2022.
The Company believes that the financial, administrative and compliance obligations and costs
associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a
whole. The ASX delisting is also expected to lead to an increase in the Company’s trading liquidity on
the TSX.
3. What are the consequences of Delisting?
The main consequence of OceanaGold’s delisting for CDI holders is that, from the time the Delisting
takes effect on 31 August 2022, CDIs will no longer be quoted or traded on the ASX.
OceanaGold will maintain its listing of Shares on the TSX under the trading symbol ‘OGC’. Trading of
Shares on the TSX will continue, uninterrupted, during and after the Delisting.
OceanaGold will remain incorporated in British Columbia, Canada. Copies of OceanaGold’s press
releases and other corporate information will continue to be available on sedar.com as well as the
Company’s website at www.oceanagold.com.
4. What is the Delisting process and timetable?
(a) Delisting process
Suspension of CDIs from ASX trading and delisting
CDI holders will continue to be able to trade their CDIs on the ASX until the close of trading on the
Suspension Date, when trading in CDIs will be suspended. Following suspension of CDIs from
quotation, CDI holders will no longer be able to trade their CDIs on the ASX. It is expected that two
business days following the suspension of trading of CDIs, OceanaGold will be removed from the
Official List.
Holders of TSX listed Shares will no longer be able to convert their Shares into ASX listed CDIs from
the date of OceanaGold’s announcement of the Delisting on 29 July 2022.
Conversion of CDIs into Shares
Until the closing date of the Voluntary Sale Facility, CDI holders will continue to be able to request to
convert their CDIs into TSX listed Shares held on the Canadian share register.
Voluntary Sale Facility
In conjunction with the Delisting, the Company will establish a sale facility through which CDI holders
will be able to elect to exit their CDI holding through the sale of the Shares underlying their CDIs on the
TSX (without incurring any brokerage or any related costs, levies or fees) (Voluntary Sale Facility).
Shortly after the Delisting Date, CHESS Depositary Nominees Pty Ltd will revoke the trust under which
it holds the Shares underlying the CDIs. At this point, the CDIs will no longer exist. However, until
closure of the Voluntary Sale Facility, CDI holders will still be able to request to become the registered
3
holder of the underlying TSX listed Shares on the Canadian share register.1
The Voluntary Sale Facility
is expected to operate from 7 September 2022 to 7 November 2022.
Compulsory Sale Process
Following closure of the Voluntary Sale Facility, the Shares underlying any remaining holdings of CDIs
will be sold under a compulsory sale process by default (Compulsory Sale Process). The Compulsory
Sale Process is expected to be conducted from 8 November 2022 until 8 December 2022.
(b) Indicative dates for the Delisting process
The table below sets out an indicative timeline for the Delisting process.
Date Event
29 July 2022 OceanaGold announces the Delisting on the ASX.
This letter is sent or emailed to CDI holders containing details of the
Delisting and information on the options available to CDI holders.
OceanaGold suspends the ability for new CDIs to be issued.2
29 July 2022 –
29 August 2022
Notice Period - during this time, you may still:
request to convert CDIs into TSX listed Shares (and continue to do so
until the closing date of the Voluntary Sale Facility as detailed below); and
sell CDIs on the ASX.
29 August 2022
(at close of trading)
Suspension Date - effective date of suspension in trading of CDIs on the
ASX.
CDI holders will not be able to trade CDIs on the ASX after this date.
31 August 2022
(at close of trading)
Delisting Date - effective date of removal of OceanaGold from the Official
List.
7 September 2022 Opening date of the Voluntary Sale Facility.
7 November 2022 Closing date of the Voluntary Sale Facility.
Last date for CDI holders to request to become the registered holder of
the underlying TSX listed Shares.
8 November 2022 Opening date of the Compulsory Sale Process.
8 December 2022 Closing date of the Compulsory Sale Process.
All dates and times in this letter refer to Australian Eastern Standard Time / Australian Eastern Daylight
Savings Time (as applicable). These dates and times are indicative only and subject to change.
OceanaGold will announce any amendment to those dates and times.
1
For simplicity, this letter refers to the ability of CDI holders to request to become the registered holder of the underlying TSX
listed Shares on the Canadian share register as ‘conversion of CDIs into Shares’.
2
OceanaGold has been granted a waiver of ASX Settlement Operating Rule 13.9.9 to allow OceanaGold to suspend the issue
of new CDIs during the period commencing on the date of announcement of the Delisting until the date OceanaGold is officially
delisted from the ASX.
Samples/000001/000002
*I00000102*
4
5. What are my options?
As a holder of CDIs, you have the following options in respect of the Delisting, which you should carefully
consider before deciding what to do with your CDIs. If you do nothing, then Option 4 will apply by default.
OPTION 1: Elect to convert your CDIs into TSX listed Shares
You have an existing right to convert your CDIs into the underlying Shares listed on the TSX on a 1:1
basis, which will continue up until the closing date of the Voluntary Sale Facility (expected to be 7
November 2022).
CDI holders, depending on their own arrangements, can request that the underlying Shares are either:
i) deposited with their stockbroker in the Canadian Depository for Securities (CDS); or
ii) registered directly in their own name in book-entry form on the Canadian share register in the
Direct Registration System (DRS).
As outlined in Section 6, CDI holders should verify if their current stockbroking arrangements are
suitable to allow them to trade Shares on the TSX.
CDI holders will not be charged any fees by the Company if they convert their CDIs into the underlying
Shares (however, if the CDI holder uses a stockbroker or market participant to effect the conversion,
they may be charged a fee).
(a) How to convert CDIs into TSX listed Shares – on or before the Delisting Date
Issuer sponsored holders
Issuer sponsored holder numbers are prefixed with an ‘I’, and are referred to as Securityholder
Reference Numbers (SRN).
To convert their CDIs into Shares, issuer sponsored holders should complete a CDI cancellation form
and return this (together with a certified copy of their identification documentation where required) to
the Company’s Australian CDI registry, Computershare Investor Services Pty Limited
(Computershare), by post or email as provided on the form.3
The CDI cancellation form can be
downloaded from www-au.computershare.com/Investor/#Company.
CHESS holders
CHESS holder numbers are prefixed with an ‘X’, and are referred to as Holder Identification Numbers
(HIN).
To convert their CDIs into Shares, CHESS holders should contact their sponsoring Australian
CHESS participant, usually their broker, to request the conversion of their CDIs into TSX listed
Shares held in Canada.4
The process to convert CDIs into Shares is generally completed within two business days after receipt
by Computershare of a valid CDI cancellation request. You should not trade your Shares on the TSX
3
If the Shares are to be deposited into a Canadian brokerage account in CDS, the CDI holder’s Australian or Canadian broker
can assist them with providing the deposit information to be provided on the CDI cancellation form.
4
The CHESS participant will need to convert the CDIs onto the issuer sponsored sub-register before the CDI cancellation can
be processed, or if the CHESS participant is an xSettle user, they should complete an xSettle request and deliver the CDIs to
Computershare Clearing PID 20127.
5
until the conversion process has been completed, and the Shares are either deposited by your
Canadian stockbroker into your account or a DRS holding statement sent to your registered address.
(b) How to convert CDIs into TSX listed Shares – after the Delisting Date and before closure
of the Voluntary Sale Facility
If you remain a CDI holder as at the Delisting Date, you will be sent a personalised request form to
allow you to convert your CDIs, if you wish, into the underlying Shares, up until the closing date of the
Voluntary Sale Facility.
If you elect to convert your CDIs into the underlying Shares, you may then choose to hold those
Shares or sell them on the TSX at a later time (other than through the Voluntary Sale Facility) through
a stockbroker or financial advisor who can buy or sell shares on the TSX (subject to compliance with
TSX trading requirements). Any sale of Shares on the TSX not through the Voluntary Sale Facility will
be at your cost.
OPTION 2: Sell your CDIs on the ASX before the Suspension Date
You can sell your CDIs on the ASX at any time prior to the close of trading on the Suspension Date,
which is currently expected to be 29 August 2022. You should contact your stockbroker or financial
advisor to arrange the sale.
After the Suspension Date, you will not be able to sell your CDIs on the ASX.
If you elect to sell your CDIs on the ASX prior to the Suspension Date, you will be responsible for all
costs associated with the sale, including any broker commission.
OPTION 3: Participate in the Voluntary Sale Facility
If you remain a CDI holder as at the Delisting Date, you will be sent an election form (Sale Election
Form) shortly after the Delisting Date to enable you to elect to participate in the Voluntary Sale
Facility.
If you wish to participate in the Voluntary Sale Facility, you must complete and return the Sale Election
Form in accordance with the instructions on the form. Please note that if you elect to participate in the
Voluntary Sale Facility, unless you are a custodian or nominee holding CDIs on behalf of multiple
holders, you can only elect to sell all of the Shares underlying your CDIs (i.e. you cannot elect to sell
just a portion of your holding).
Under the Voluntary Sale Facility, OceanaGold will facilitate the transfer of the Shares underlying your
CDIs to OceanaGold’s appointed broker for the purpose of enabling the sale of the Shares underlying
your CDIs. Computershare will aggregate the elections into batches and the broker will, at its
discretion, effect the sale of the Shares in each batch on your behalf on the TSX.
Sale proceeds will be remitted to you in Australian dollars or New Zealand dollars based on the
average price of the Shares sold in the applicable batch and the relevant exchange rate at the time
of conversion (rounded down to the nearest cent). Individual CDI holders who would like to receive
their proceeds in other currencies are able to enrol in Global Wire (an international wire payment
service provided by Computershare) to receive their proceeds in their local currency. You will not
receive interest on any proceeds.
Samples/000001/000003
*I00000101*
6
To update your bank account details, or to provide a Global Wire instruction, please visit
www.computershare.com.au/easyupdate/OGC.
5
The Company will pay all brokerage and any related costs, levies or fees associated with the sale of
Shares on the TSX on behalf of participating CDI holders and remittance of sale proceeds (including
any foreign currency conversion fee) in connection with the Voluntary Sale Facility.
The Voluntary Sale Facility is expected to be open for participation from 7 September 2022 until 7
November 2022. Participation in the Voluntary Sale Facility is entirely voluntary and CDI holders are
not obliged to sell their securities through the facility.
OPTION 4: No action – Compulsory Sale Process (DEFAULT OPTION)
If you do nothing (i.e. do not proceed with Option 1, Option 2 or Option 3 above) by closure of the
Voluntary Sale Facility, which is expected to occur on 7 November 2022, the Shares underlying your
CDIs will be sold by default under the Compulsory Sale Process.
CHESS Depositary Nominees Pty Ltd has the power to sell the Shares underlying your CDIs pursuant
to the ASX Settlement Operating Rules. Under the Compulsory Sale Process, the Shares underlying
your CDIs will be aggregated with all other remaining CDI holdings and sold by OceanaGold’s
appointed broker on the TSX.
The sale mechanism and the process for calculating (and payment of) the proceeds of the sale of the
Shares underlying your CDIs under the Compulsory Sale Process will be the same as that for the
Voluntary Sale Facility outlined in Option 3 above in all material respects.
If you cannot be contacted, the sale proceeds from your Shares will be dealt with in accordance with
applicable unclaimed money laws.
The Company will pay all brokerage and any related costs, levies or fees associated with the sale of
Shares on the TSX in connection with the Compulsory Sale Process.
The Compulsory Sale Process is expected to be conducted from 8 November 2022 until 8 December
2022.
6. Trading Shares on the TSX
You can only trade Shares on the TSX if they are held through CDS. As such, to trade your Shares on
the TSX, you will need to independently establish an account with a broker in Canada (or an Australian
broker that has a relationship with a financial institution in Canada). If you hold your Shares through
DRS, you will not be able to trade your Shares on the TSX without first making independent
arrangements with a broker in Canada (or an Australian broker that has a relationship with a financial
institution in Canada) who can facilitate the electronic deposit of any Shares held in DRS into CDS in
order to facilitate trading on the TSX.
5 The Company strongly recommends you update your Australian or New Zealand bank account details recorded on the CDI
register, so that once the sale process has been completed, the payment can be made to you via an electronic funds transfer
rather than by cheque. Please note that if your registered address is in New Zealand, payment will be made via direct credit
only and payment will be withheld until bank account details have been provided.
7
7. Risks
There are risks associated with the sale of CDIs through the Voluntary Sale Facility and Compulsory
Sale Process. Your total proceeds will depend on the level of buyer demand, buyer pricing constraints,
trading volatility in OceanaGold’s Shares on the TSX, as well as the applicable exchange rate at the
time of conversion.
The impact of these factors for those that elect to participate in the Voluntary Sale Facility, or those that
did nothing and were subject to the Compulsory Sale Process, may be more or less adverse than if
they had elected another option.
Both OceanaGold’s Share price and the A$:C$ and NZ$:C$ exchange rates may fluctuate from time to
time and accordingly may impact, positively or negatively, the amount of sale proceeds you receive if
you wish to sell the Shares underlying your CDIs through the Voluntary Sale Facility or are subject to
the Compulsory Sale Process.
8. Tax implications
CDI holders will be responsible for any personal tax including personal income tax or capital gains tax
which results from the sale of the Shares underlying their CDIs through the Voluntary Sale Facility or
the Compulsory Sale Process.
The Company strongly encourages you to obtain your own tax advice based on your individual
circumstances before deciding which option to select. This letter does not purport to provide you with
any tax advice.
9. Further information
If you have any further queries about the Delisting, you can contact Computershare on 1300 850 505
(within Australia) or +61 3 9415 4000 (outside Australia) between 8.30am and 5.00pm (Australian
Eastern Standard Time / Australian Eastern Daylight Savings Time, as applicable).
You may also contact Investor Relations at OceanaGold in Canada via email on ir@oceanagold.com.
======================================================================================
DYOR
i hold OGC
- Joined
- 20 July 2021
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- 10,978
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- 15,243
OCEANAGOLD REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS
On Track to Meet Full Year Consolidated Production Guidance
(All financial figures in US Dollars unless otherwise stated)
(BRISBANE) OceanaGold Corporation (TSX: OGC) (ASX: OGC) (“OceanaGold” or the “Company”) reported
its financial and operational results for the quarter ended June 30, 2022. Details of the consolidated financial
statements and the Management Discussion and Analysis (“MD&A”) are available on the Company’s website
at www.oceanagold.com.
Highlights
• Second quarter gold production of 112,296 ounces and first half gold production of 246,331 ounces, a
39% increase over the first half of 2021.
• Second quarter consolidated All-in Sustaining Costs (“AISC”) of $1,430 per ounce and first half
consolidated AISC of $1,243 per ounce.
• Second quarter revenue of $229 million, EBITDA of $75 million and net profit after tax of $19 million,
leading to record first half revenue of $515 million, EBITDA of $233 million and net profit after tax of $98
million.
• Fully diluted adjusted earnings per share of $0.05 for the second quarter and $0.16 for the first half.
• Free cash flow of $9 million for the second quarter and $72 million for the first half.
• Net debt reduced to $156 million as at June 30, 2022, at a leverage ratio of 0.38 times.
• Repaid $50 million of the Company’s revolving credit facility, reducing drawn debt to $200 million.
• Waihi North Project consent application, including Wharekirauponga Underground Mine, lodged in June.
• Though the Supplemental Environmental Impact Statement (“SEIS”) Final Record of Decision (“ROD”)
has yet to be issued, the Company is confident that it and the subsequent operating permits will be
issued imminently.
• Full year consolidated guidance has been updated as follows:
o Gold production guidance of 445,000 to 495,000 ounces of gold is reaffirmed.
o Copper production guidance is increased to 12,000 to 14,000 tonnes.
o Full year AISC guidance is increased 7.5% to $1,375 to $1,475 per ounce, reflecting cost inflation
impacts and lower expected copper by-product credits due to a lower expected copper price.
o Capital expenditures expected to be $30 million lower, to between $305 and $365 million.
2
Gerard Bond, President and CEO of OceanaGold, said “The Company delivered a solid second quarter
reflecting operational performance in line with expectations across our portfolio. Together with strong prices we
achieved record revenue in the first half of 2022 and strong free cashflow, allowing us to repay $50 million of
drawn bank debt and strengthen the balance sheet which will enable continued investment in high value
opportunities throughout our business.”
“In the second quarter Haile continued to deliver to plan. Mining transitioned to the Haile pit and the operation
continued to make good progress on productivity and efficiency initiatives. Though the SEIS is yet to be
published, which means the Record of Decision and receipt of subsequent operating permits is yet to occur, we
have been advised that it is in the final stages of editing and is very close to being published.”
“At Didipio, the team continue to do an exceptional job, with the second quarter being the first quarter where full
underground mining rates were sustained. This is a great achievement so soon after recommencing operations.”
“While challenges persisted at Waihi, we saw an improvement in mining rates and reconciliation as mining
commenced on areas better defined by the accelerated grade control drill program, and it is expected that
performance will continue to improve over the coming quarters.”
“The strong first half performances from Haile and Didipio have led us to re-affirm our full-year consolidated
production guidance of 445,000 to 495,000 ounces while increasing full-year copper production guidance.
Reflecting material inflation-driven increases in key input costs across our business, most notably diesel costs,
materials and consumables, combined with the decline in copper prices, we are increasing our full-year
consolidated AISC guidance by approximately 7.5%, with AISC now expected in the range of $1,375 to $1,475
per ounce. Partially offsetting this increase in AISC is an expectation that total capital expenditures in 2022 will
be $30 million lower, with sustaining capital and growth capital being between $20 million and $10 million lower
than original guidance.”
“In conjunction with today’s second quarter results, we announced that we have applied and received approval
to delist from the ASX. While this decision was not easy given the Company’s historical ties to the ASX, we
believe that consolidating the shares into one liquid market in which almost all of the shares are held will benefit
shareholders.”
“I was pleased to announce earlier this week the considerable strengthening of our Executive Leadership Team,
most of whom will be based in our Brisbane office. Having regard to the location of our shareholder base, our
operations and opportunities, I will be relocating to Vancouver, Canada in the coming months and in due course
this is where our corporate headquarters will be going forward,” said Mr. Bond.
======================================================================================
DYOR
i hold OGC
after reading the last paragraph , i will consider my options ( given where the company actually has working mines )
( Canada is not particularly close to either NZ nor the Philippines )
On Track to Meet Full Year Consolidated Production Guidance
(All financial figures in US Dollars unless otherwise stated)
(BRISBANE) OceanaGold Corporation (TSX: OGC) (ASX: OGC) (“OceanaGold” or the “Company”) reported
its financial and operational results for the quarter ended June 30, 2022. Details of the consolidated financial
statements and the Management Discussion and Analysis (“MD&A”) are available on the Company’s website
at www.oceanagold.com.
Highlights
• Second quarter gold production of 112,296 ounces and first half gold production of 246,331 ounces, a
39% increase over the first half of 2021.
• Second quarter consolidated All-in Sustaining Costs (“AISC”) of $1,430 per ounce and first half
consolidated AISC of $1,243 per ounce.
• Second quarter revenue of $229 million, EBITDA of $75 million and net profit after tax of $19 million,
leading to record first half revenue of $515 million, EBITDA of $233 million and net profit after tax of $98
million.
• Fully diluted adjusted earnings per share of $0.05 for the second quarter and $0.16 for the first half.
• Free cash flow of $9 million for the second quarter and $72 million for the first half.
• Net debt reduced to $156 million as at June 30, 2022, at a leverage ratio of 0.38 times.
• Repaid $50 million of the Company’s revolving credit facility, reducing drawn debt to $200 million.
• Waihi North Project consent application, including Wharekirauponga Underground Mine, lodged in June.
• Though the Supplemental Environmental Impact Statement (“SEIS”) Final Record of Decision (“ROD”)
has yet to be issued, the Company is confident that it and the subsequent operating permits will be
issued imminently.
• Full year consolidated guidance has been updated as follows:
o Gold production guidance of 445,000 to 495,000 ounces of gold is reaffirmed.
o Copper production guidance is increased to 12,000 to 14,000 tonnes.
o Full year AISC guidance is increased 7.5% to $1,375 to $1,475 per ounce, reflecting cost inflation
impacts and lower expected copper by-product credits due to a lower expected copper price.
o Capital expenditures expected to be $30 million lower, to between $305 and $365 million.
2
Gerard Bond, President and CEO of OceanaGold, said “The Company delivered a solid second quarter
reflecting operational performance in line with expectations across our portfolio. Together with strong prices we
achieved record revenue in the first half of 2022 and strong free cashflow, allowing us to repay $50 million of
drawn bank debt and strengthen the balance sheet which will enable continued investment in high value
opportunities throughout our business.”
“In the second quarter Haile continued to deliver to plan. Mining transitioned to the Haile pit and the operation
continued to make good progress on productivity and efficiency initiatives. Though the SEIS is yet to be
published, which means the Record of Decision and receipt of subsequent operating permits is yet to occur, we
have been advised that it is in the final stages of editing and is very close to being published.”
“At Didipio, the team continue to do an exceptional job, with the second quarter being the first quarter where full
underground mining rates were sustained. This is a great achievement so soon after recommencing operations.”
“While challenges persisted at Waihi, we saw an improvement in mining rates and reconciliation as mining
commenced on areas better defined by the accelerated grade control drill program, and it is expected that
performance will continue to improve over the coming quarters.”
“The strong first half performances from Haile and Didipio have led us to re-affirm our full-year consolidated
production guidance of 445,000 to 495,000 ounces while increasing full-year copper production guidance.
Reflecting material inflation-driven increases in key input costs across our business, most notably diesel costs,
materials and consumables, combined with the decline in copper prices, we are increasing our full-year
consolidated AISC guidance by approximately 7.5%, with AISC now expected in the range of $1,375 to $1,475
per ounce. Partially offsetting this increase in AISC is an expectation that total capital expenditures in 2022 will
be $30 million lower, with sustaining capital and growth capital being between $20 million and $10 million lower
than original guidance.”
“In conjunction with today’s second quarter results, we announced that we have applied and received approval
to delist from the ASX. While this decision was not easy given the Company’s historical ties to the ASX, we
believe that consolidating the shares into one liquid market in which almost all of the shares are held will benefit
shareholders.”
“I was pleased to announce earlier this week the considerable strengthening of our Executive Leadership Team,
most of whom will be based in our Brisbane office. Having regard to the location of our shareholder base, our
operations and opportunities, I will be relocating to Vancouver, Canada in the coming months and in due course
this is where our corporate headquarters will be going forward,” said Mr. Bond.
======================================================================================
DYOR
i hold OGC
after reading the last paragraph , i will consider my options ( given where the company actually has working mines )
( Canada is not particularly close to either NZ nor the Philippines )
- Joined
- 20 July 2021
- Posts
- 10,978
- Reactions
- 15,243
well they were complaining about turnover , i hope that is the result they desired
