SWK - Swick Mining Services

[Miner]

DDH1 Limited to acquire Swick Mining Services Ltd for $115 million enterprise value, representing equity value of 35c per share. Swick shareholders will also receive Orexplore shares under the proposed ($12 million seed funded) Orexplore demerger.

SWK hasn't traded over 35c since 2013, and has never been a stellar performer as a listed entity, so this deal is probably a reasonable one for SWK shareholders. Although it is worth noting that it is a scrip transaction, not cash. SWK shareholders wil receive 0.2970 DDH1 shares for each Swick share they hold.

Good time for the original promoter to move on after years of hard work to get SWK today's situation.

 

[System]

On February 17th, 2022, Swick Mining Services Limited (SWK) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between SWK and its shareholders in connection with the acquisition of all the issued capital in SWK by DDH1 Limited.