Agnico-Eagle acquires additional 5.7% of Riddarhyttan shares, increasing ownership to 96.6%; Final bid extension to November 4,
25 October 2005 - 5:12AM
PR Newswire (US)
Stock Symbols: AEM (NYSE) AGE (TSX) TORONTO, Oct. 24
/PRNewswire-FirstCall/ -- Agnico-Eagle Mines Limited
("Agnico-Eagle") announced today that an additional 5,979,599
shares of Riddarhyttan Resources AB (publ) ("Riddarhyttan") have
been tendered to its offer to acquire all the outstanding shares of
Riddarhyttan not owned by Agnico-Eagle, representing 5.7% of the
outstanding shares and voting rights of Riddarhyttan. Together with
the 96,189,032 shares already owned by Agnico- Eagle, representing
91.0% of the outstanding shares and voting rights of Riddarhyttan,
Agnico-Eagle now owns an aggregate of 102,168,631 shares, or
approximately 96.6% of the outstanding shares and voting rights of
Riddarhyttan. Settlement of shares tendered during the previous
extension is expected to be initiated on, or about, October 28,
2005. To enable those shareholders who have not yet tendered to
participate in the offer, the offer has been extended a final time
to 4:00 p.m. CET (10:00 a.m. EDT) on November 4, 2005. Settlement
of Riddarhyttan shares tendered during the new extension of the
offer period is expected to be initiated on, or about, November 11,
2005. Following completion of the offer, Agnico-Eagle intends to
initiate the compulsory acquisition process under Swedish law to
purchase the remaining shares in Riddarhyttan and in connection
therewith the shares of Riddarhyttan will be delisted from the
Stockholm Stock Exchange. Riddarhyttan shareholders who have
questions about the offer should contact 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. U.S. Information 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",
"intend" and similar words and expressions are intended to identify
forward-looking statements. Such statements, including statements
relating to the timing, completion and settlement of the offer and
Agnico-Eagle's intent to initiate the compulsory acquisition
process under Swedish law and cause the delisting of Riddarhyttan
shares on the Stockholm Stock Exchange, 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
Copyright