Teck mails transmittal letters outlining 1.3301 share exchange in merger
TECK•Teck has mailed transmittal letters to holders of Class A and B shares detailing the 1.3301 exchange ratio for Anglo American ordinary or exchangeable shares under its court-approved merger of equals. Registered shareholders can deposit their completed forms now, and Canadian holders may elect exchangeable shares before the pending deadline.
1. Letter Mailing and Merger Context
Teck has commenced mailing a Letter of Transmittal to registered holders of its Class A common shares and Class B subordinate voting shares in connection with its court-approved merger of equals with Anglo American. The mailing informs shareholders of their options to exchange Teck Shares for Anglo American ordinary shares or, for eligible Canadian holders, exchangeable Anglo Teck Exchangeco shares.
2. Exchange Ratio and Consideration Options
Under the merger, each Teck Share will convert into 1.3301 Anglo American ordinary shares by default. Eligible Canadian shareholders may elect to receive the same ratio of exchangeable shares of Anglo Teck Exchangeco Limited instead of Anglo American ordinary shares.
3. Submission Procedures and Next Steps
Registered shareholders must deposit completed Letters of Transmittal with Computershare Investor Services Inc. immediately to facilitate the share exchange. Non-registered (beneficial) holders should follow their intermediary’s procedures, and Teck will announce the election deadline at least seven business days in advance.
