GREY:HRIVF - Post by User
Post by
espressostrettoon Jun 17, 2009 5:19pm
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Post# 16079021
"Contract punishment"?
"Contract punishment"?????
https://www.rohstoff-welt.de/news/artikel.php?sid=13559
High River gold mines Ltd. raw material-world closes closed support agreement with Severstal 17.06.2009 | 10:16 clock |. de the business with Lybica holding B. V., a subsidiary of Severstals mine branch ZAO Severstal Resources, a support agreement to Severstals acceptance of all High River equities. According to come off, Lybica will buy all issued and being outstanding shares to an unit price of 0.22 Can$, excluded are the shares controlled by Severstal.
The offer is directed according to business in first line to the minority stockholders.
Severstal controlled presently 312,771,130 equities - this represents shares of round 53% of the being outstanding shares. Recently a private positioning was announced of 59,019,367 to newly issued equities. After whose conclusion Severstal of round 57.3% the being outstanding shares will hold.
High River can suppose higher offers. In this case, Lybica has five day time to adapt its offer. If the transaction with Lybica should not be closed, High River pays a contract punishment of 1.7 million Can$.