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Let the Takeovers Begin... Juniors getting bids

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A list of Takeovers, with new ones added as they happen:

============

 

(so far, these are stocks that I owned- let me have others, as you hear about them)

 

PAF.v. / Pan African : Asia Thai Mng. at C$4.00 + share = C$105.0 million on 26.29 mn shs

YZC.v / Yukon Zinc : by UK's Griffin Mining at C$0.206* = C$ 70.6 million on 342.8mn shs

===

 

Value so far : C$175.6 Million

 

*of C$0.206 per Yukon Zinc share based upon the closing price of the Griffin shares on AIM on April 18, 2008 of 0.9225 of a British Pound Sterling and a Canadian Dollar - British Pound Sterling exchange rate of 0.4984

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Pan African Mining Corp. to be Acquired by Asia Thai Mining Co., Ltd.

 

Vancouver, British Columbia CANADA, April 14, 2008 /FSC/ - Pan African Mining Corp. (TSX - VX: PAF, FWB: P2A, OTCBB_Pink_Sheets: PAFRF), (the "Company"), Asia Thai Mining Co. Ltd. ("ATM") and 0819615 B.C. Ltd. (the "Purchaser"), a wholly owned subsidiary of ATM, are pleased to announce that they have entered into an agreement for the Purchaser to offer to purchase all of the outstanding common shares of the Company at the price of $4.00 cash per share and for the Purchaser to also offer to purchase for cash all outstanding warrants and all outstanding options (vested and not yet vested) of the Company for a price equal to the difference between $4.00 and the exercise price of the respective warrant or option (the "Transaction"). Prior to the completion of the Transaction, the Company will establish a new entity ("NewCo") and transfer to NewCo the following: (i) $2,500,000 cash, and (ii) all of the shares of the Company's non-Madagascar subsidiaries, namely, PAM Botswana (Pty) Ltd., PAM Minerals Namibia (Pty) Ltd. and PAM Mocambique Limitada. Subject to analysis of tax implications and any required approvals, the Company plans to distribute the shares of NewCo to shareholders of the Company as of a record date to be hereafter determined by way of spin off or similar mechanism. The purchase price represents an 84.3% premium over the Company's average closing price for the 20 preceding trading days on the TSX Venture Exchange. The Transaction is anticipated to close on or about May 31, 2008, subject to obtaining necessary approvals and fulfillment of conditions of the Transaction.

 

The structure of the Transaction will be determined by mutual agreement after taking into consideration tax and other matters, and may be either a formal take over bid, an amalgamation or plan of arrangement. If a formal bid is undertaken, it will be subject to there having been validly deposited and not withdrawn not less than 66 2/3% of the shares of the Company then outstanding. In the event of an amalgamation or plan of arrangement, it will be subject to the approval of at least 66 2/3% of the votes present in person or by proxy at a special meeting of the shareholders of the Company. The formal documentation will include a Pre-Acquisition Support Agreement of the Company confirming the support of the Board of the Company for the Transaction and its agreement not to solicit any competing offers, a Principal Shareholder Support Agreement confirming the support of Irwin A. Olian for the Transaction to be executed by April 15, 2008 and a Lock-up Agreement from directors and officers of the Company. The Company has agreed to pay a break fee of $3,000,000 in certain circumstances. In a separate transaction, Purchaser will be acquiring from Irwin Olian his approximate 1% interest in the Company's Madagascar subsidiaries for a price which is economically equivalent to the $4.00 per share being paid for shares of the Company.

 

The Transaction is subject to the completion of due diligence and a number of other standard conditions, including all necessary regulatory and shareholder approvals. The Purchaser has represented that the cash consideration payable to shareholders of the Company is in place and accordingly there is no financing condition to closing of the Transaction.

 

A Special Committee of our Board of Directors has been established to assist with this transaction. The Special Committee is chaired by Gregory Sparks, P.Eng., and also includes Benjamin Catalano and Dr. Edward Schiller. Dr. Peter Christopher acts as an advisor to the Special Committee. Mr. Sparks and Drs. Schiller and Christopher are all Qualified Persons within the meaning of NI 43-101.

 

According to Irwin Olian, CEO of the Company, "We view this transaction as highly beneficial to the shareholders of the Company as it provides liquidity at a reasonable valuation to our shareholders in this most difficult of financial environments and a significant reward for their financial investments in the Company. At the same time, ATM and its affiliates are highly experienced in mining operations and have access to the financial and technical resources that may be required to bring the Madagascar projects controlled by the Company to fruition. Thus, the Transaction is likely to enhance the prospects for successful commercial mining operations in the future in Madagascar, with strong benefits to the people and economy of Madagascar. This suggests the Transaction will be a win-win for all concerned."

 

About Pan African

 

The Company is an exploratory resource company with approximately 7,500 sq. km. of diversified mineral properties and 5,000 sq. km. of uranium properties in Madagascar. The Company is exploring these properties for uranium, gold, coal, precious stones, base metals and industrial commodities. In addition, the Company is exploring two large regions for gold and metals in Mozambique under agreements with other companies. It also has approximately 5500 sq. km. of diamond licenses in Botswana which it is presently exploring. Its operations in Madagascar are carried out through its operating subsidiary, PAM Madagascar Sarl, and its uranium activities are carried out through its 80% owned subsidiary PAM Atomique Sarl. The Company has offices in Vancouver, Canada and Antananarivo, Madagascar. More information about the Company is available at www.panafrican.com.

 

About Asia Thai Mining Co., Ltd.

 

Asia Thai Mining Co., Ltd. ("ATM") is a holding company incorporated in Thailand. ATM, either directly or through affiliated companies has extensive experience in the development and operation of mining interests, in particular in respect of coal mining interests. Through its subsidiaries, it is involved in the exploration and development of several coal mines in Indonesia. The company projects its coal production capacity will reach approximately 4 million tons by 2009. ATM forms part of a group of affiliated mining companies, including Saraburi Coal Co., Ltd. ("SBCC"). SBCC has been mining coal and tin in Thailand and other Southeast Asian countries since 1998. In addition, SBCC has recently been awarded a 9-year, US$500 million coal mining contract in Thailand from Electricity Generating Authority of Thailand and SBCC will start work in 2008. ATM is a private company with its registered address and principal place of business at 2034/132-161 New Petchburi Road, Bangkapi, Huaykwang, Bangkok, Thailand.

 

ON BEHALF OF PAN AFRICAN MINING CORP.

Irwin A. Olian - CEO & Director

 

 

/see: http://www.stockhouse.com/tools/?page=%2FF...ewsid%3D6852508

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Griffin Mining Limited to Acquire Yukon Zinc Corporation

 

YUKON ZINC CORP YZC 4/21/2008 6:11:39 PM

VANCOUVER, BRITISH COLUMBIA, Apr 21, 2008 (Marketwire via COMTEX News Network) --

Yukon Zinc Corporation (TSX VENTURE:YZC) ("Yukon Zinc") and Griffin Mining Limited (AIM:GFM) ("Griffin") announced today that they have signed an Agreement (the "Agreement") whereby Griffin will acquire all of the issued shares of Yukon Zinc through a court-approved plan of arrangement. The shares of Griffin are traded on the Alternative Investment Market ("AIM") of the London Stock Exchange.

 

Under the terms of the transaction the shareholders of Yukon Zinc will receive one ordinary share of Griffin for every nine common shares of Yukon Zinc held. This represents a value of C$0.206 per Yukon Zinc share based upon the closing price of the Griffin shares on AIM on April 18, 2008 of 0.9225 of a British Pound Sterling and a Canadian Dollar - British Pound Sterling exchange rate of 0.4984. This represents a premium of 46.9% to the closing price of the Yukon Zinc shares on the TSX-V on April 18, 2008 and 43.0% premium to the 20 day volume weighted average trading price of the Yukon Zinc shares on the TSX-V. After completion of the transaction, the shareholders of Yukon Zinc will hold approximately 16% of the issued Griffin shares, with the current Griffin shareholders holding the remaining 84%. It is expected that the transaction will close by July 31, 2008.

 

Griffin will have the following attributes after completion of the transaction:

 

- A strong balance sheet with over C$200 million in cash; No debt;

 

- 60 percent interest in the low-cost Caijiaying zinc-gold-silver-lead mine in Hebei Province China;

 

- 100 percent interest in the high grade advanced zinc-silver-copper-gold-lead Wolverine Project located in Yukon Canada;

 

- When the Wolverine Project achieves full production status, projected annual zinc production in concentrates from Caijiaying and Wolverine will exceed 150 million pounds and annual payable silver production will exceed 4.5 million ounces. There will also be significant quantities of copper, gold and lead production; and

 

- Exciting exploration and development potential in the vicinity of the Caijiaying mine in China and in the Yukon Zinc's Finlayson District and other exploration properties.

 

Harlan Meade, President and Chief Executive Officer of Yukon Zinc, said, "The transaction with Griffin will result in the development of the Wolverine deposit, which is projected to become a very low cost producer. Yukon Zinc's properties and exploration expertise will complement the development and financial strengths of Griffin and provide an attractive growth outlook for Yukon Zinc and Griffin shareholders. We believe that this transaction represents an excellent value proposition for our shareholders and provides a bright future."

 

Mladen Ninkov, Chairman of Griffin, stated, "This transaction fulfills the stringent economic and geological and political criteria the Company has imposed upon itself. Yukon Zinc will add a high grade, profitable mine to Griffin's portfolio and add extensive exploration acreage in one of the most exciting base metals regions in the world. The returns for existing Griffin shareholders and our new Griffin shareholders through Yukon Zinc will be very exciting. We couldn't be more pleased."

 

Summary of the Transaction

 

The acquisition of Yukon Zinc by Griffin is to be completed by way of a court-approved Plan of Arrangement whereby each shareholder of Yukon Zinc will receive one-ninth of an ordinary share of Griffin for each common share of Yukon Zinc held (the "Exchange Ratio"). Outstanding warrants and options of Yukon Zinc will be converted into Griffin warrants and options by multiplying the number of warrants and options held by the Exchange Ratio. The exercise price of the warrants and options will be adjusted to a number equal to the current exercise price, divided by the Exchange Ratio. The expiry dates of the warrants and options remain unchanged.

 

The transaction is subject to a number of conditions that are customary for transactions of this nature, including execution of definitive transaction documents, a favourable vote of at least 66 2/3% of the Yukon Zinc shares voted at a special meeting of the shareholders of Yukon Zinc called to approve the transaction, regulatory and court approvals and completion of due diligence. Yukon Zinc has agreed to pay a break fee to Griffin, under certain circumstances, of C$2.5 million. Yukon Zinc has also provided Griffin with certain other customary rights, including a right to match competing offers.

 

The Special Committee of the Board of Directors of Yukon Zinc has determined that the transaction is in the best interest of Yukon Zinc shareholders and that the Exchange Ratio is fair to its shareholders. The Board of Directors of Yukon Zinc unanimously recommends that the Yukon Zinc shareholders vote in favour of the transaction. Paradigm Capital Inc. has provided an opinion to the Board of Directors of Yukon Zinc that the Exchange Ratio is fair, from a financial point of view, to the holders of common shares of Yukon Zinc. Senior officers and Directors of Yukon Zinc have agreed to vote in favour of the transaction.

 

Management Team and Board of Directors

 

No change to the Board of Directors of Griffin is contemplated. Under the Agreement, Yukon Zinc must use its reasonable best efforts to maintain and preserve its organization, including its current management staff.

 

Yukon Zinc Advisors and Counsel

 

Yukon Zinc's legal and financial advisors are Lang Michener LLP and Paradigm Capital Inc. respectively. Griffin legal counsel is Anfield Sujir Kennedy & Durno, Barristers and Solicitors

. . .

Griffin reported a profit after tax of US$18,010,000 for the six months ended 30th June 2007 and total assets of US$88,926,000 as at 30th June 2007. In August 2007 Griffin completed a placing of 68,181,818 million shares at Pounds Sterling 1.10 per share for total proceeds of Pounds Sterling 75 million (US$152 million) and currently retains cash resources in excess of US$200 million.

 

/see: http://www.stockhouse.com/News/CanadianRel....aspx?n=6863037

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This COULD be in play, posted it elsewhere following RNS

 

17 April 2008

 

Mercator Gold plc

 

Statement re Share Price Movement

 

 

The board of Mercator Gold plc (the 'Company') notes the recent rise in the

Company's share price and confirms it has received a preliminary approach which

may or may not lead to an offer being made for the Company.

 

There can be no certainty that an offer will be made for the Company or as to

the terms on which such an offer may be made.

 

Riggers

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AMALGAMATIONS===

 

I really need to add the mergers too !!

 

Like:

Peak Oil with two other Gold mining companies

 

and

Mega Uranium doing a friendly takeover of Energentia

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