Verdant Minerals agreed to acquisition by London-based private equity firm CD Capital of all of the issued shares in Verdant, other than shares held by major shareholder Washington H. Soul Pattinson. Should the scheme be implemented, Verdant shareholders will receive 3.2 Australian cents per share held as at the scheme record date (June 17, 2019). This values Verdant at about AUD41 million on a fully-diluted basis and represents a 113% premium to the closing price of its shares on March 8 2019 of 1.5 Australian cents, being the last trading day before this announcement. Commenting on the Scheme, VRM's Managing Director, Chris Tziolis, said “The offer from CD Capital, a London based Private Equity Firm, represents a 113% premium to VRM’s current share price and so is demonstrably accretive to our shareholders on the basis of the company’s share price and market capitalisation. The advancement of the Ammaroo Phosphate Project will require significant capital which, at the market capitalisation and share price prior to the offer, is highly unlikely to be raised from existing shareholders and without very significant dilution. Subject to an independent expert’s report and in the absence of a superior competing proposal, I have voted with my fellow independent directors to recommend CD Capital’s proposal to VRM’s shareholders.”