20:41:25 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Thompson Creek Metals Company Inc
Symbol TCM
Shares Issued 171,726,065
Close 2014-06-20 C$ 2.89
Market Cap C$ 496,288,328
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Thompson Creek Metals sets tangible equity unit ratio

2014-06-23 07:21 ET - News Release

Ms. Pamela Solly reports

THOMPSON CREEK ANNOUNCES PRICING TERMS FOR ITS PREVIOUSLY ANNOUNCED EXCHANGE OFFER OF COMMON STOCK FOR ITS 6.50% TANGIBLE EQUITY UNITS

Thompson Creek Metals Company Inc. has set the pricing for its previously announced offer to exchange any and all of its 6.50-per-cent tangible equity units (CUSIP No. 884768 300; ISIN CA8847683007) for shares of its common stock.

Thompson Creek is offering to exchange 5.8458 shares of common stock for each validly tendered and accepted TMEDS unit pursuant to the exchange offer. The number of shares of common stock to be exchanged for each unit of TMEDS was fixed after 5 p.m., New York time, on June 20, 2014, on the basis of the pricing formula set forth in the offer to exchange described below. The exchange ratio is equal to the sum of (i) 5.3879 shares of common stock plus (ii) a number of shares of common stock equal to $1.25 divided by $2.73, which is the five-day arithmetic daily volume-weighted average price of the common stock over the trading period beginning on June 16, 2014, and ending on the pricing date. Fractional shares will not be issued in the exchange offer and holders will receive the cash value of any fractional shares due to them, which cash value shall be the product of the fractional shares to be received and $2.73. The settlement date for the exchange offer is expected to be June 25, 2014.

In addition to the exchange ratio, holders who participate in the exchange offer will receive the accrued portion of the 40.6250-cent quarterly cash instalment payment that has accrued from May 15, 2014, to the settlement date of the exchange offer and that is payable in respect of the amortizing note component of each TMEDS unit. Such cash instalment payment reflects both accrued interest and the partial repayment of principal in respect of the amortizing notes component of each TMEDS unit.

The exchange offer will expire at 11:59 p.m., New York time, on June 24, 2014, unless extended or earlier terminated by the company. Holders may withdraw units of TMEDS that they tender at any time before the exchange offer expires. In addition, holders may withdraw tendered units of TMEDS if the company has not accepted them for payment within 40 business days from the commencement of the exchange offer. The tender and withdrawal of shares of TMEDS pursuant to the exchange offer held in street name are subject to compliance with the appropriate procedures of the automated tender offer program, or ATOP, of the Depository Trust Company.

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