Business
Uranium One Announces Amended Option Agreement to Acquire Mantra Resources - Reduction in Price and Improved Flexibility to Exercise Option
Mar. 21, 2011 (Canada NewsWire Group) -- VANCOUVER, British Columbia and JOHANNESBURG, South ...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n Mar. 21, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, British Columbia and JOHANNESBURG, South Africa, March 21\n /CNW/ - Uranium One Inc. ("Uranium One") today announced that Mantra\n Resources Limited ("Mantra") and JSC Atomredmetzoloto ("ARMZ") have\n revised the terms of the Scheme Implementation Agreement that was\n entered into by Mantra and ARMZ on December 15, 2010.\n\n\nUnder the revised agreement, Mantra shareholders will receive A$7.02\n comprising A$6.87 in cash to be paid by ARMZ and a cash dividend of\n A$0.15 to be paid by Mantra instead of A$8.00 in cash.\n\n\nThe Directors of Mantra have agreed unanimously to recommend ARMZ's\n revised offer and will vote in favour of the Scheme in the absence of a\n superior proposal and subject to receipt of an updated recommendation\n from the independent expert that the revised transaction is in the best\n interests of Mantra shareholders.\n\n\nMantra's strategic shareholder, Highland Park S.A., which owns 13.5% of\n the outstanding fully diluted share capital in Mantra, has also\n represented to Mantra that it supports the revised transaction and will\n vote in favour of the Scheme in the absence of a superior proposal.\n\n\nConcurrently with the execution of the amendment to the Scheme\n Implementation Agreement, Uranium One and ARMZ have entered into an\n Amended and Restated Option Agreement which provides Uranium One with\n the benefit of the A$6.87 revised price and a...