Eldorado Gold Announces Share Consolidation
18 December 2018 - 9:05AM
Eldorado Gold Corporation (“Eldorado” or “the Company”) announces
that it is proceeding with a 5:1 consolidation of the common shares
of the Company (“the Consolidation”) with an effective date of
December 27, 2018. Notice has been provided to the New York
Stock Exchange (“NYSE”), and Eldorado’s common shares are expected
to begin trading on the NYSE and the Toronto Stock Exchange
(“TSX”), on a consolidated basis, on or about December 31, 2018.
At Eldorado’s Annual and Special Meeting of
Shareholders, held on June 21, 2018, the Company’s shareholders
approved an amendment to the Company’s restated articles of
incorporation granting authority to effect the Consolidation.
Following the Consolidation, the number of
outstanding common shares of the Company will be reduced from
approximately 794 million outstanding common shares to
approximately 159 million outstanding common shares. Eldorado’s
common shares will continue to trade on the NYSE and the TSX under
the existing ticker symbols. Following the Consolidation, the new
CUSIP number for the Company’s common shares will be 284902509 and
the new ISIN for the Company’s common shares will be
CA2849025093.
No fractional common shares will be issued in
connection with the Consolidation; any fractional shares will be
cancelled.
Eldorado’s transfer agent, Computershare
Investor Services (“Computershare”), will act as the exchange agent
for the Consolidation. On the effective date of the Consolidation,
Computershare will send instructions (i.e. a Letter of
Transmittal) to shareholders who hold stock certificates regarding
the exchange of old certificates for new certificates, should they
wish to do so. Shareholders who hold their shares in
brokerage accounts or “street name” are not required to take any
action to effect the exchange of their shares.
About Eldorado Gold
Eldorado is a gold and base metals producer with
mining, development and exploration operations in Turkey, Canada,
Greece, Romania, Serbia, and Brazil. The Company has a highly
skilled and dedicated workforce, safe and responsible operations, a
portfolio of high-quality assets, and long-term partnerships with
local communities. Eldorado's common shares trade on the
Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange
(NYSE: EGO).
Contact
Investor RelationsPeter Lekich,
Manager Investor Relations604.687.4018 or
1.888.353.8166 peter.lekich@eldoradogold.com
MediaLouise Burgess, Director
Communications and Government Relations604.601.6679 or
1.888.353.8166louiseb@eldoradogold.com
Cautionary Note about Forward-looking
Statements and InformationCertain of the statements made
herein may contain forward-looking statements or information within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws. Often,
but not always, forward-looking statements and forward-looking
information can be identified by the use of words such as “plans”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates”, or “believes” or the
negatives thereof or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or information herein include, but are
not limited, to statements or information with respect to the
Company’s Share Consolidation.
Forward-looking statements and forward-looking
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information. We have made certain
assumptions about the forward-looking statements and information,
including the expected number of common shares issued and
outstanding following the Share Consolidation; the anticipated
effective date of the Share Consolidation; and the date on which
the common shares are expected to start trading on the NYSE and the
TSX on a consolidated basis.
Although our management believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that the forward-looking statements or information will prove to be
accurate. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or information.
These risks, uncertainties and other factors include, among others,
the following: the ability to acquire shares through the NCIB; the
impact of the Company’s proposed share consolidation (if
completed); share price volatility; as well as those factors
discussed in the sections entitled “Forward-Looking Statements” and
"Risk Factors" in the Company's Annual Information Form & Form
40-F dated March 29, 2018.
There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, you should not place
undue reliance on the forward-looking statements or information
contained herein. Except as required by law, we do not expect to
update forward-looking statements and information continually as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada and the
U.S.
All forward looking statements and information
contained in this News Release are qualified by this cautionary
statement.
PDF available
at: http://resource.globenewswire.com/Resource/Download/54cb1d04-e15c-422c-9c4d-4b12730de193
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