22:51:14 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Thompson Creek Metals Company Inc
Symbol TCM
Shares Issued 222,782,042
Close 2016-10-18 C$ 0.63
Market Cap C$ 140,352,686
Recent Sedar Documents

Thompson Creek holders approve acquisition by Centerra

2016-10-18 17:08 ET - News Release

Also News Release (C-CG) Centerra Gold Inc

An anonymous director of Thompson Creek reports

THOMPSON CREEK OBTAINS SHAREHOLDER APPROVAL FOR ARRANGEMENT WITH CENTERRA GOLD INC.

Thompson Creek Metals Company Inc. has obtained overwhelming shareholder approval for the proposed arrangement between Thompson Creek and Centerra Gold Inc. previously announced on July 5, 2016.

Thompson Creek held a special meeting of holders of common shares of Thompson Creek this morning. At the meeting, Thompson Creek shareholders were asked to consider and, if deemed advisable, pass a special resolution approving the arrangement between Thompson Creek and Centerra. The arrangement required approval by at least 66-2/3rds per cent of the votes cast by Thompson Creek shareholders present in person or by proxy at the meeting. The approval was obtained with approximately 97 per cent of the votes cast by Thompson Creek shareholders in favour of the special resolution approving the arrangement. Approval for the advisory vote relating to the compensation of the company's named executive officers in connection with the arrangement was also obtained with approximately 78 per cent of the votes cast by Thompson Creek shareholders in favour of the resolution.

Thompson Creek anticipates returning to the B.C. court on Oct. 19, 2016, to seek a final order of the court approving the arrangement. The arrangement remains subject to terms and conditions of closing, including approval of the court. The arrangement is expected to be completed on Oct. 20, 2016.

On completion of the arrangement, Thompson Creek will become a wholly owned subsidiary of Centerra. Under the terms of the arrangement, it is expected that on a fully diluted in-the-money basis, Thompson Creek shareholders will receive, as consideration, common shares representing approximately 8 per cent of Centerra's issued and outstanding shares following closing. Upon closing of the arrangement, Thompson Creek shareholders will receive, subject to the terms and conditions of the arrangement agreement, 0.0988 of a Centerra common share for each Thompson Creek common share, representing a 32-per-cent premium to the closing price of the Thompson Creek common shares on the Toronto Stock Exchange on July 4, 2016, the last trading date prior to the announcement of the transaction.

Additional information regarding the terms of the arrangement is set out in Thompson Creek's proxy statement and management information circular dated Sept. 12, 2016, available under Thompson Creek's profile at SEDAR and EDGAR.

We seek Safe Harbor.

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