TIDMEGU
RNS Number : 9945W
European Goldfields Ltd
08 February 2012
ELDORADO GOLD CORPORATION AND EUROPEAN GOLDFIELDS LIMITED
ANNOUNCE RECOMMENDATION BY LEADING CORPORATE GOVERNANCE FIRMS
THAT SHAREHOLDERS VOTE FOR THE MERGER
Vancouver, British Columbia and Whitehorse, Yukon - February 8,
2012: Institutional Shareholder Services ("ISS") and Glass Lewis
& Co., LLC ("GL") have recommended that shareholders vote FOR
the merger of Eldorado Gold Corporation ("Eldorado") (TSX: ELD,
NYSE: EGO, ASX: EAU) and European Goldfields Limited ("European
Goldfields") (AIM: EGU / TSX: EGU) to be considered at their
respective special meetings on February 21, 2012.
ISS and GL are leading independent international corporate
governance analysis and proxy voting firms. Their recommendations
assist shareholders in making decisions regarding proxy voting.
ISS and GL made their recommendations that shareholders vote FOR
the merger based on their findings that the transaction is
financially fair to shareholders of both companies, the strategic
rationale is reasonable, market reaction has been favourable and
there are no significant governance concerns.
Eldorado's Chief Executive Officer, Paul N. Wright, said "We are
pleased that both ISS and GL support our view that shareholders
should support the merger. We maintain our commitment to
strengthening performance and providing superior returns for
shareholders, which this transaction will help us accomplish."
European Goldfields' President and Executive Chairman, Martyn
Konig, said, "The positive recommendations of ISS and GL strengthen
our belief that the consideration shareholders will receive is
fair, and that it is in their best interests to vote FOR the merger
with Eldorado."
Shareholders are reminded to vote their proxy FOR the Merger
before the respective proxy deadlines:
Eldorado Gold: Voting Deadline: Friday, February 17, 2012 at 9:00 AM (EST)
For more information and assistance in voting your proxy,
Eldorado shareholders are urged to contact Kingsdale Shareholder
Services Inc. at 1-877-657-5856 or by email at
contactus@kingsdaleshareholder.com.
European Goldfields: Voting Deadline: Friday, February 17, 2012
at 11:00 AM (EST)
For more information and assistance in voting your proxy,
European Goldfields shareholders are urged to contact Phoenix
Advisory Partners at North American Toll Free: 1-800-243-9416,
United Kingdom Toll Free: +44 (0) 808 /101/1697 or Email:
inquiries@phoenixadvisorypartners.com
If you have any questions regarding the deposit of your European
Goldfields shares to the Arrangement, European Goldfields
shareholders can contact Kingsdale Shareholder Services Inc. at
1-877-657-5856 or by email at
contactus@kingsdaleshareholder.com.
About Eldorado Gold
Eldorado is a gold producing, exploration and development
company actively growing businesses in Turkey, China, Brazil and
Greece. With our international expertise in mining, finance and
project development, together with highly skilled and dedicated
staff, we believe that our company is well positioned to grow in
value as we create and pursue new opportunities.
About European Gold Fields
European Goldfields is a developer-producer with globally
significant gold reserves located within the European Union. The
Company generates cash flow from its 95% owned Stratoni operation,
a high grade lead/zinc/silver mine in North-Eastern Greece.
ON BEHALF OF ON BEHALF OF
ELDORADO GOLD CORPORATION EUROPEAN GOLD FIELDS LIMITED
"Paul N. Wright" "Martyn Konig"
Paul N. Wright Martyn Konig
President and Chief Executive Officer Executive Chairman and President
None of the securities anticipated to be issued pursuant to the
Arrangement have been or will be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws, and any securities issued in the
Arrangement are anticipated to be issued in reliance upon available
exemptions from such registration requirements pursuant to Section
3(a) (10) of the U.S. Securities Act and applicable exemptions
under state securities laws. This press release does not constitute
an offer to sell or the solicitation of an offer to buy any
securities.
"Certain of the statements made herein may contain
forward-looking statements or information within the meaning of
applicable Canadian and US securities laws. Forward-looking
statements or information herein include, but are not limited, to
statements or information with respect to the announced
recommendation in connection with the merger of Eldorado Gold
Corporation and European Goldfields. Forward-looking statements and
forward-looking information by their nature are based on
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements or information. We have made
certain assumptions about the forward-looking statements and
information, including assumptions about the ability to achieve our
goal of concluding this transaction. Even though our management
believes that the assumptions made and the expectations represented
by such statements or information are reasonable, there can be no
assurance that the forward-looking statement or information will
prove to be accurate. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or information.
These risks, uncertainties and other factors include, among others,
the ability to satisfy the conditions of the transaction, as well
as those factors discussed in the sections entitled
"Forward-Looking Statements" and "Risk Factors" in the Company's
information circular for the meeting and its Annual Information
Form & Form 40-F dated March 31, 2011. There can be no
assurance that forward-looking statements or information will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
you should not place undue reliance on the forward-looking
statements or information contained herein. Except as required by
law, we do not expect to update forward-looking statements and
information continually as conditions change and you are referred
to the full discussion of the Company's business contained in the
Company's reports filed with the securities regulatory authorities
in Canada and the U.S."
Other enquiries:
European Goldfields Liberum Capital Limited
Steve Sharpe, SVP Business Development Michael Rawlinson / Tom Fyson
Email: info@egofields.com Tel: +44 (0) 20 3100 2000
Tel: +44 (0) 20 7408 9534
Brunswick BMO Capital Markets
Carol Cable / Fiona Micallef-Eynaud Egizio Bianchini / Gary Mattan
Email: egoldfields@brunswickgroup.com Tel: +1 (0) 416 359 4001
Tel: +44 (0) 20 7404 5959
Lazard & Co., Ltd
Spiro Youakim / Chris Seherr-Thoss
Tel: +44 (0) 20 7187 2000
For further information please see the European Goldfields
website at www.egoldfields.com
Contact:
Eldorado Gold Corporation
Nancy E. Woo, VP, Investor Relations
Phone: 604.601.6650 or 1.888.353.8166 1188, 550 Burrard Street
Fax: 604.687.4026 Vancouver, BC V6C 2B5
Email: nancyw@eldoradogold.com Website: www.eldoradogold.com
Request for information packages: reception@eldoradogold.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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