Sterlite shareholders tender 95.6% of shares to bid
2007-09-27 10:11 ET - News Release
Mr. Oleg Roumyantsev of GeoProMining reports
GEOPROMINING LTD. SUCCESSFULLY COMPLETES TAKE-OVER BID FOR
STERLITE GOLD LTD.
Sterlite Gold Ltd. shareholders have deposited 253,526,305 common shares, representing
approximately 95.6 per cent of the outstanding common shares of Sterlite Gold on a fully
diluted basis, to the offer made by GeoProMining Ltd. to acquire all of the outstanding
common shares of Sterlite Gold for 38.45 U.S. cents in cash per common share as at the
expiry time of the offer.
The offer expired at 12:01 a.m. (Toronto time) on Sept. 27, 2007. All of the conditions of
the offer were satisfied as at the expiry time and GeoProMining has taken up all of the
Sterlite Gold common shares that were deposited to the offer at such time. Payment for
such Sterlite Gold common shares has been made to the depositary, Equity Transfer &
Trust Company.
GeoProMining intends to acquire the remaining Sterlite Gold common shares by means
of a statutory compulsory acquisition under Part 16 of the Business Corporations Act
(Yukon) at the same price as the offer price, and to delist the common shares from the
Toronto Stock Exchange and to cause Sterlite Gold to cease to be a reporting issuer.
We seek Safe Harbor.