Agnico-Eagle announces mailing of offer to exchange shares of Riddarhyttan Resources
09 August 2005 - 6:30AM
PR Newswire (US)
/Not for distribution to news wire services or for dissemination in
Australia or Japan. The Offer is not being made to persons whose
participation requires further prospectuses, filings or other
measures in addition to those required under Swedish and U.S. law./
TORONTO, Aug. 8 /PRNewswire-FirstCall/ -- Agnico-Eagle Mines
Limited announced that it has mailed to shareholders of
Riddarhyttan Resources AB (publ), a Swedish public company, a
formal offer to exchange 0.1137 shares of common stock of
Agnico-Eagle Mines Limited for each outstanding share of
Riddarhyttan not currently owned by Agnico-Eagle. The offer will be
open for acceptance until September 9, 2005. Shareholders who do
not receive the offer documents within a reasonable period of time
may contact Agnico-Eagle, 145 King Street East, Suite 500, Toronto,
Ontario, Canada M5C 2Y7, (416) 947-1212, Enskilda Securities,
Nybrokajen 5, 103 36 Stockholm, Sweden, 46 8 52 22 95 00 or SEB
Issues & Part-ownership Programmes, Rissneleden 110, 106 40
Stockholm, Sweden, 46 8 639 2750. The deadline for returning forms
to participate in the offer is 4:00 p.m. (CET) (10:00 a.m. EDT) on
September 9, 2005. The offer values each Riddarhyttan share at SEK
10.25 based upon the closing price of Agnico-Eagle common shares on
the New York Stock Exchange and of the Riddarhyttan shares on the
Stockholm Stock Exchange on May 11, 2005, the last trading day
before the announcement of the offer. Based upon the closing prices
and exchange rate on August 5, 2005, the offer currently values
each Riddarhyttan share at SEK 11.28. In connection with the offer,
Agnico-Eagle filed with the U.S. Securities and Exchange Commission
a registration statement on Form F-4 containing the offer document
regarding the offer. The registration statement was declared
effective by the SEC on August 2, 2005. The offer document has also
been registered with and approved by the Swedish Financial Services
Authority. The Board of Directors of Riddarhyttan unanimously
recommends that Riddarhyttan shareholders accept this offer. The
Board's recommendation is supported by a fairness opinion from the
financial advisor to the Board, Standard Bank London Limited. The
shares of Agnico-Eagle are listed on the New York Stock Exchange
and the Toronto Stock Exchange. The shares of Riddarhyttan are
listed on the O-list of the Stockholm Stock Exchange. Agnico-Eagle
currently owns 14,763,669 Riddarhyttan shares, representing
approximately 14% of the shares of Riddarhyttan. U.S. Shareholders
Agnico-Eagle has filed with the SEC a registration statement on
Form F-4 containing an offer document regarding the offer. This
press release does not constitute an offer to purchase or sell or a
solicitation of an offer to sell or purchase shares of Riddarhyttan
or Agnico-Eagle to any person in the United States of America, its
possessions and other areas subject to its jurisdiction or to, or
for the account or benefit of a U.S. person (as defined in
Regulation S under the United States Securities Act of 1933, as
amended). The offer will be made to those persons solely under the
offer document that is part of the registration statement.
Investors and stockholders are advised to read the offer document
and other documents relating to the offer carefully because they
include important information regarding the offer. Investors and
stockholders may obtain a free copy of the offer document and
certain other documents relating to the offer from the SEC's
website at http://www.sec.gov/. Free copies of these documents can
also be obtained by directing a request to Agnico-Eagle. YOU SHOULD
READ THE OFFER DOCUMENT AND OTHER DOCUMENTS RELATING TO THE OFFER
CAREFULLY BEFORE MAKING A DECISION CONCERNING THE OFFER. UK
Information This press release has been approved solely for the
purposes of Section 21 of the Financial Services and Markets Act
2000 by Citigroup Global Markets Limited of Citigroup Centre, 33
Canada Square, Canary Wharf, London E14 5LB. Citigroup Global
Markets Limited is acting for Agnico-Eagle and no one else in
connection with the Offer and will not be responsible to any other
person for providing the protections afforded to clients of
Citigroup Global Markets Limited or for providing advice in
relation to the Offer. Forward-Looking Statements Certain
statements contained in this news release constitute
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995. In this
news release, the words "anticipate", "expect", "estimate",
"forecast", "plan" and similar words and expressions are intended
to identify forward-looking statements. Such statements reflect
Agnico-Eagle's views at this time with respect to future events and
are subject to certain risks, uncertainties and assumptions. Many
factors could cause the actual results to be materially different
from those expressed or implied by such forward-looking statements,
including, among others, those discussed under the heading "Risk
Factors" in the offer document filed as part of the Registration
Statement on Form F-4 and in Agnico-Eagle's Annual Information Form
and Annual Report on Form 20-F for the year ended December 31,
2004. Agnico-Eagle does not intend, and does not assume any
obligation, to update these forward-looking statements. About
Agnico-Eagle Agnico-Eagle is a long-established Canadian gold
producer with operations located in northwestern Quebec and
exploration and development activities in Canada, the United States
and Mexico. Agnico-Eagle's LaRonde Mine in Quebec is Canada's
largest gold deposit. The Company has full exposure to higher gold
prices consistent with its policy of no forward gold sales. It has
paid a cash dividend for 25 consecutive years. DATASOURCE:
Agnico-Eagle Mines Limited CONTACT: David Smith; Director, Investor
Relations, (416) 947-1212
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