By Business Wirevia The Motley Fool
Filed under: Investing
Orko and Coeur Announce Election Report
VANCOUVER, British Columbia & COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Orko Silver Corp. (“Orko”) (TSX-V: OK) (Frankfurt: OG3) (OTCUS: OKOFF) and Coeur d’Alene Mines Corporation (“Coeur”) (NYS: CDE) (TSX: CDM) are pleased to provide an update regarding the consideration to be received by Orko shareholders pursuant to the previously announced plan of arrangement (the “Arrangement”) whereby Coeur will acquire all of the issued and outstanding common shares of Orko (the “Orko Shares”). As previously announced, the Arrangement was approved by Orko shareholders yesterday.
Orko and Coeur received an election report from Computershare Trust Company of Canada setting out the number of common shares of Coeur (the “Coeur Shares“), warrants to purchase Coeur Shares (the “Coeur Warrants“) and/or cash consideration that each Orko shareholder will be entitled to receive pursuant to the Arrangement, after proration, as follows:
- Orko shareholders who have elected or are deemed to have elected to receive the cash and share consideration will receive $0.70 cash, 0.0815 of a Coeur Share and 0.01118 of a Coeur Warrant for each Orko Share held;
- Orko shareholders who have elected to receive the share consideration will receive 0.1118 of a Coeur Share and 0.01118 of a Coeur Warrant for each Orko Share held; and
- Orko shareholders who have elected to receive the cash consideration will receive $0.74 cash, 0.0797 of a Coeur Share and 0.01118 of a Coeur Warrant for each Orko Share held.
The cash consideration alternative was oversubscribed, and pursuant to the proration methodology established under the Arrangement, Orko shareholders who have elected to receive the cash consideration will receive the cash, Coeur Shares and Coeur Warrants as described above.
Pursuant to the Arrangement, Orko shareholders will receive total cash consideration of CAD$100 million, 11,572,918 Coeur Shares and 1,588,768 Coeur Warrants. Following the completion of the Arrangement, the current Orko shareholders will hold approximately 11% of the issued and outstanding Coeur Shares (prior to the exercise of the Coeur Warrants). The Coeur Warrants will trade under the symbol “CDE.WS” on the NYSE and “CDM.WT” on the TSX. Trading is expected to commence on April 17, 2013 on both exchanges.
Orko will apply for a final order of the Supreme Court of British Columbia approving the Arrangement on Friday, April 12, 2013 and, assuming receipt of court approval and the satisfaction
From: http://www.dailyfinance.com/2013/04/11/orko-and-coeur-announce-election-report/