Talison subsidiary redeems shares PERTH, WESTERN AUSTRALIA--(Marketwire - March 27, 2012) - Talison Lithium Exchangeco Limited ("Exchangeco"), a subsidiary of Talison Lithium Callco Limited ("Callco") and an indirect subsidiary of Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH), announced today that May 31, 2012 has been established as the redemption date for all of the remaining outstanding exchangeable shares in the capital of Exchangeco. Callco has exercised its overriding redemption call right and will acquire all of the outstanding exchangeable shares on May 31, 2012.
The exchangeable shares were issued in connection with the acquisition of Salares Lithium Inc. by Talison in September 2010, on terms which permit their redemption on a date no earlier than September 22, 2013, unless certain conditions are met in which case an earlier redemption date may be established by the board of directors of Exchangeco. Such conditions have been met.
Holders of exchangeable shares on May 31, 2012 will be entitled to receive one ordinary share in the capital of Talison for each exchangeable share held. On and after May 31, 2012, former holders of exchangeable shares will no longer have any rights as holders of exchangeable shares other than the entitlement to receive ordinary shares of Talison.
A cover letter from Talison, along with the Notice of Redemption of Exchangeable Shares from Exchangeco, the Notice of Exercise of Redemption Call Right from Exchangeco, and the Purchase and Transmittal Form will be mailed today to registered holders of exchangeable shares and will provide further information. Computershare Investor Services Inc. will act as depositary in connection with the redemption.