Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent Events

On May 9, 2022, the Company’s Board of Directors declared a special unfranked dividend of $99.5 million, or 5.9 cents per CDI, reflecting the unaccepted portion of the offer to purchase the Notes made in connection with the dividend declared on February 24, 2022, and a special unfranked dividend of $100.6 million, or 6.0 cents per CDI. CDIs will be quoted as “ex” dividend on May 30, 2022. The dividend will have a record date of May 31, 2022 and be payable on June 21, 2022. The total special dividends of $200.0 million will be funded from available cash.

In connection with the declared special dividend, Coronado Finance Pty Ltd, a wholly-owned subsidiary of the Company offered to purchase up to $100.6 million aggregate principal amount of the Notes at a purchase price equal to 104% of the principal amount of the Notes pursuant to the terms of the Indenture. The payment of the special dividend is not contingent on acceptance of the offer to purchase the Notes by the Note holders.