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Urone -- finalisation announcement
Urone (the "Corporation") announced that all required regulatory approvals have now been received and all conditions precedent have been met to complete the arrangement agreement between the Corporation, JSC Atomredmetzoloto ("ARMZ") and its affiliate Uranium One Holding N.V. (formerly Effective Energy N.V.) under which Uranium One Holding will acquire all of the common shares of Urone that it and its affiliates do not already own for cash consideration of CAD2.86 per share. Closing of the transaction is now scheduled to take place on Friday, October 18, 2013
On the closing date, each shareholder of the Corporation will be entitled to receive a payment of CAD2.86 per share. Each shareholder in South Africa will receive ZAR27.36 per share at the exchange rate of CAD1.00 = ZAR9.56683 established as of the close of business on September 25, 2013 (rounded up to the nearest cent).
The relevant dates for the transaction for shareholders of the Corporation in South Africa will be as follows:
- Conversion Reference Date -- September 25, 2013
- Finalisation Announcement -- September 26, 2013
- Closing of South African Branch Register -- September 27, 2013
- Last Day to Trade on JSE -- October 11, 2013
- Suspension of Listing on JSE -- October 14, 2013
- Payment Record Date (Closing Date) -- October 18, 2013
- Expected South African Payment Date -- October 21, 2013
- Termination of Listing -- October 22, 2013
The transaction was approved on March 7, 2013 at a special meeting of the Corporation's common shareholders and optionholders and has received all required court approvals.
Within 30 days of completion of the transaction, Urone will make an offer to purchase the CAD259 985 000 aggregate principal amount of its convertible unsecured subordinated debentures due March 13, 2015 as required by the terms of the debentures.
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