Talvivaara's Extraordinary General Meeting approved the sale of mining related assets to Terrafame
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
11 August 2016
Talvivaara's Extraordinary General Meeting approved thesale of mining related
assets to Terrafame
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") is pleased to
announce that, at the Extraordinary General Meeting of the Company held today on
11 August 2016 at 11:00 am (Finnish time), the resolution proposed by the Board
of Directors set out in the notice of the meeting dated 8 July 2016 concerning
the sale by Talvivaara of its assets related to the Sotkamo mining operations to
Terrafame Ltd ("Terrafame") was duly passed.
On 30 June 2016 Talvivaara and Terrafame signed agreements, in which the parties
agreed on the sale of Talvivaara's assets related to the Sotkamo mining
operations and settlement of Talvivaara's guarantee liabilities under the Loan
and Streaming Holiday Agreement ("Holiday Agreement"), with the principal amount
of approximately EUR 14 million (including interest up until 30 June 2016), and
the Zinc in Concentrate Purchase Agreement ("Streaming Agreement"), amounting to
approximately EUR 203.4 million. The purchase price for the assets sold consists
of two components: (i) a full and final settlement of the guarantee liabilities
of the Company under the Holiday Agreement and the Streaming Agreement, and (ii)
a cash component of EUR 1.4 million payable by Terrafame, which has been paid to
the Company at closing. The assets sold include, among others, the lime plant
needed for the Sotkamo operations, laboratory, as well as rights to the
geological, laboratory and production related data associated with the Sotkamo
mine. The agreements included a cancellation clause whereby the transactions
contemplated by the agreements would have become null and void in the event the
Extraordinary General Meeting of shareholders of Talvivaara would not have
approved the transactions under the agreements.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
Talvivaara?s EGM approved sale of mining related assets to Terrafame:
http://hugin.info/136227/R/2034568/757686.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via GlobeNewswire
[HUG#2034568]
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2016 - 10:58 Uhr
Sprache: Deutsch
News-ID 488522
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