Full Year 2023 Alumina Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Alumina Limited 2023 full year results conference call. (Operator Instructions) I would now like to turn the conference over to Mr. Mike Ferraro, Chief Executive Officer. Please go ahead.
Welcome, everyone. Thank you for joining Alumina Limited's presentation of our full year results for 2023. Before I proceed further, please refer to the disclaimer. Also note all references to dollars refer to US dollars unless otherwise specified. I would like first to take you through the proposed transaction with Alcoa, the details of which were announced yesterday. Before I move to discuss the 2023 results.
The transaction involves acquiring Alumina for scrip consideration of 0.02854 Alcoa shares per Alumina share. The proposal implies a 19.5% premium to the average exchange ratio over the last 12 months and represents a 31.6% ownership stake for Alumina shareholders in the merged entity. This proposal follows earlier
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