|
The following table summarises the preliminary fair value of each major class of consideration transferred:
| |
|
|
$‘000
|
|
|
Equity instruments issued
|
|
|
300,706
|
|
|
Other merger consideration attributable to outstanding Piedmont equity awards (1)
|
|
|
4,209
|
|
|
Total consideration transferred (2)
|
|
|
304,915
|
|
|
(1)
|
Other merger consideration has been measured on a provisional basis, pending completion
of an independent valuation.
|
|
(2)
|
Total consideration transferred comprises the buy-out of the non-controlling interest in
Sayona Québec and settlement of the pre-existing contractual arrangement between Piedmont and Sayona. The allocation of consideration across each component has yet to be determined. Refer to section (c) below.
|
The following table summarises the total value of equity instruments issued:
|
Number of Piedmont common stock on issue on date of acquisition (#)
|
|
|
21,946,069
|
|
|
Exchange ratio (per share of Piedmont common stock) (#)
|
|
|
527
|
|
|
Number of Sayona ordinary shares issued (#)
|
|
|
11,565,602,304
|
|
|
Closing price of Sayona ordinary shares traded on the ASX on date of acquisition ($)
|
|
|
0.026
|
|
|
Total value of equity instruments issued ($’000)
|
|
|
300,706
|
|
|