Nickel Industries Ltd Corporate Call Transcript
Thank you, everyone, for your attendance today at such short notice. And apologies that we don't have the online version. So we'll ask you to refer to the presentation that was in the announcement. The deal did come together quite quickly. And so then there wasn't enough time to line things up. But we're very excited to announce the strategic partnership with United Tractors.
There's 2 elements to the transaction. The first is a conditional placement of AUD 943 million at a placement price of AUD 1.10, which represents a 27.2% premium to our last traded price as of 8 June. This would take UT's holding and it's through its subsidiary PT Danusa Tambang Nusantara or DTNâ. This will take it to 19.99% shareholding within Nickel Industries.
If you look at the chart there on the right, you can see the pro forma ownership structure. This does include the issue of shares to Tsingshan for the HNC acquisition. But you can see that Decent Tsingshan would hold 22.5%, United Tractors 19.99%, and remaining shareholders 57.5%.
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