Business
Uranium One Shareholders Approve ARMZ Transaction
Uranium One Shareholders Approve ARMZ Transaction
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n Aug. 31, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nVANCOUVER and JOHANNESBURG, South Africa, Aug. 31 /CNW/ - Uranium One Inc. today announced that the purchase from JSC Atomredmetzolo ("ARMZ") of ARMZ's interests in the Akbastau and Zarechnoye uranium mines was approved at a meeting of Uranium One shareholders held today in Vancouver, British Columbia.\nAt the meeting, approximately 95.05% of the votes cast were voted in favour of the transaction. In addition, approximately 91.99% of the votes cast by shareholders other than ARMZ and its affiliates were voted in favour of the transaction.\nAs previously announced, as part of the Akbastau and Zarechnoye transaction ARMZ will also contribute US$ 610 million in cash to Uranium One, of which approximately US$ 479 million will be paid directly to shareholders (other than ARMZ) as a change of control premium after closing, by way of a special dividend of US$ 1.06 per share.\nUranium One expects to close the transaction by the end of 2010, subject to receipt of remaining required regulatory approvals, including from the Kazakh Anti-Monopoly Commission, the Australian Foreign Investment Review Board and U.S. Committee on Foreign Investment in the United States, which are expected to be received in due course, and to the satisfaction of other usual and customary closing conditions.\n\nAbout Uranium One\n\nUranium One is one of the world's largest publicly traded uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, and Australia.\n\nCautionary Statement\n\nNo stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.\nInvestors are advised to refer to independent technical reports containing detailed information with respect to the material properties of Uranium One. These technical reports are available under the profiles of Uranium One Inc and ...