Moto Securityholders Approve Deal with Randgold
12 Octubre 2009 - 1:30AM
UK Regulatory
TIDMMOE TIDMRRS
RNS Number : 5917A
Moto Goldmines Limited
12 October 2009
NEWS RELEASE
FOR IMMEDIATE RELEASE
TSX Code - MGL
OCTOBER 12, 2009 AIM Code - MOE
MOTO SECURITYHOLDERS APPROVE
TRANSACTION WITH RANDGOLD RESOURCES
PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto") announces that at the
special meeting of the registered holders of Moto common shares ("Moto
Shareholders") and the holders of options to acquire Moto common shares
(together with Moto Shareholders, the "Moto Securityholders"), the Moto
Securityholders approved the arrangement resolution regarding the combination
(the "Arrangement") with Randgold Resources Limited ("Randgold"), which was
announced on August 5, 2009.
Votes on the arrangement resolution were cast in respect of 56.68% of the total
number of issued and outstanding Moto common shares and options. Of the votes
cast, 98.1% voted in favour and 1.9% voted against.
Based on election forms received from Moto Shareholders by the election deadline
of 4 pm (Pacific Time) on October 7, 2009, holders of 17,195,516 common shares
elected to receive Cash Consideration, being US$4.47 per Moto common share, as
set out in the plan of arrangement (the "Plan of Arrangement") attached to the
information circular sent to Moto Securityholders in respect of the meeting,
resulting in aggregate cash payable by Randgold of US$76,863,956.52. Since this
amount does not exceed the Cash Parameter (as defined in the Plan of
Arrangement), no pro-ration of the amount payable to such holders will be
required.
Moto currently anticipates applying to the Supreme Court of British Columbia for
a final order approving the Arrangement on or about October 14, 2009. The
effective date of the Arrangement will be a date agreed between Randgold and
Moto and is presently targeted for October 15, 2009. It is expected that the
Moto common shares will be delisted from the Toronto Stock Exchange and the
Alternative Market of the London Stock Exchange (AIM) two or three business days
following the effective date.
For further information in respect of the Company's activities, please contact:
+-----------------------------------------+--------------------------------------+
| Andrew Dinning | Mark Arnesen |
+-----------------------------------------+--------------------------------------+
| President and Chief Operating Officer | Financial Director and Chief |
| | Financial Officer |
+-----------------------------------------+--------------------------------------+
| Tel: +61 8 9273 4222 | Tel: +61 8 9273 4222 |
+-----------------------------------------+--------------------------------------+
| email: adinning@motogoldmines.com | email: marnesen@motogoldmines.com |
| | |
+-----------------------------------------+--------------------------------------+
Moto Goldmines Limited website: www.motogoldmines.com
+-----------------------------------------+-----------------------------------------+
| Nominated advisor for the purposes of | RFC Corporate Finance Ltd |
| AIM: | Steve Allen |
| | Tel: +61 8 9480 2508 |
| | email: Steve.Allen@rfc.com.au |
+-----------------------------------------+-----------------------------------------+
| AIM Broker | GMP Securities Europe LLP |
| | James Cassley |
| | Tel: +44 207 647 2803 |
| | email: james.cassley@gmpeurope.com |
+-----------------------------------------+-----------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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