Agnico-Eagle completes tender offer for Riddarhyttan; To initiate compulsory acquisition of remainder
10 November 2005 - 5:08AM
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, Nov. 9 /PRNewswire-FirstCall/ -- Agnico-Eagle Mines
Limited ("Agnico-Eagle") announced today that it has completed its
tender offer relating to the acquisition of Riddarhyttan Resources
AB (publ) ("Riddarhyttan"). During the final tender period, an
additional 712,320 shares of Riddarhyttan were tendered to its
offer to acquire all the outstanding shares of Riddarhyttan not
owned by Agnico-Eagle, representing 0.7% of the outstanding shares
and voting rights of Riddarhyttan. Together with the 102,168,631
shares already owned by Agnico-Eagle, representing 96.6% of the
outstanding shares and voting rights of Riddarhyttan, Agnico-Eagle
now owns an aggregate of 102,880,951 shares, or approximately 97.3%
of the outstanding shares and voting rights of Riddarhyttan.
Settlement of shares tendered during this final tender period is
expected to be initiated on, or about, November 11, 2005.
Agnico-Eagle intends to initiate the compulsory acquisition of the
remaining 2.7% of the Riddarhyttan shares that it does not already
own under Swedish law, and anticipates that this purchase will be
complete in the first half of 2006. The Stockholm Stock Exchange
has announced that the shares of Riddarhyttan will be de-listed
before the end of November, 2005. U.S. Information 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). 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 and the timing of completion of
the compulsory acquisition process under Swedish law, 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 most recently filed
Annual Information Form and Annual Report on Form 20-F.
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, Finland, 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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