Business
Endeavour Mining announces ISS and Glass Lewis recommend in favour of Avion acquisition
VANCOUVER, Oct. 1, 2012 /CNW/ - Endeavour Mining Corporation ("Endeavour") (TSX:EDV, ASX:E...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Oct. 1, 2012 /CNW/ - Endeavour Mining Corporation (\"Endeavour\") (TSX:EDV, ASX:EVR,\n OTCQX:EDVMF) reported today that Institutional Shareholder Services,\n Inc. (\"ISS\") and Glass, Lewis & Co. (\"Glass Lewis\"), two leading\n independent proxy firms have both recommended that Endeavour\n shareholders vote FOR the resolution approving the issuance of\n Endeavour shares in connection with the acquisition of Avion Gold\n Corporation (\"Avion\") (TSX:AVR, QTCQX: AVGCF).\n\n\nISS summarized their recommendation as follows: \"in light of the\n strategic rationale, the low termination fee, and Endeavour's proven\n track record of transaction experience, a vote FOR the issuance of\n shares in connection with the acquisition of Avion Gold Corporation is\n warranted.\"  Glass Lewis noted that \"Financially, each of the analyses\n that we reviewed generally suggest that the proposed consideration is\n financially fair and reasonable to the Company and its shareholders.\"\n\n\nEndeavour's board of directors have recommended that shareholders vote\n their proxy in favour of the resolution approving the issuance of\n Endeavour shares in connection with the acquisition of Avion.  A\n special meeting of shareholders has been scheduled for 10:00 a.m.\n (Monaco time) on Friday, October 12, 2012.\n\n\nAll proxies must be received by 10:00 a.m. (Monaco time) on Wednesday,\n October 10, 2012.  Endeavour's CDI holders must return their completed\n voting instruction form to CHESS Depositary Nominees Pty Ltd. by no\n later than October 9, 2012, at 10:00 a.m. (WST). This deadline has been\n set to allow CHESS sufficient time to collate the votes of CDI holders\n and submit them to Endeavour prior to the meeting.\n\n\nShareholders are encouraged to review the Management Information\n Circular dated September 10, 2012, which provides details concerning\n the acquisition together with detailed information concerning the\n resulting combined entity.  An electronic copy of the circular is\n available on SEDAR at www.sedar.com and on the ASX website at www.asx.com.au and on Endeavour's website at www.endeavourmining.com/i/pdf/2012-09-10_InfoCirc.pdf.\n\n\nThe closing of the arrangement is subject to court approval, regulatory\n approval and other customary closing conditions.  The arrangement is\n also s...