Rio Tinto succeeds in bid for Hathor Exploration - offer extended to 12 December 2011
Thursday, 1 December 2011 9:19 AM
Rio Tinto today succeeded in its bid to acquire Hathor Exploration and will move towards completing the transaction. All of the conditions of the offer, made through an indirect wholly-owned Canadian subsidiary, have been satisfied.
Approximately 94,950,089 Hathor common shares were validly tendered by shareholders or held by an affiliate of Rio Tinto, representing 70.21 per cent of the outstanding Hathor common shares on a fully diluted basis.
All common shares validly tendered by 5:00 pm (Toronto time) on 30 November 2011 have been taken up and Rio Tinto will pay for such shares on or before 5 December 2011.
Rio Tinto has also extended its offer to acquire all the common shares of Hathor for C$4.70 in cash by 10 days in order to allow the remaining Hathor shareholders sufficient time to tender their shares to the offer. The offer is now due to expire at 5:00 pm (Toronto time) on 12 December 2011, unless further extended. A notice of extension will be mailed to Hathor shareholders and filed on SEDAR. Rio Tinto intends to take up any common shares validly deposited on a daily basis and will pay for such shares within three business days of deposit.
Hathor’s board of directors unanimously recommends that Hathor shareholders accept and tender their common shares to Rio Tinto's offer.
Hathor shareholders whose shares are registered in the name of an investment advisor, stockbroker, bank, trust company should contact their intermediary before the Expiry Time to ensure they meet any tendering cut-off times established by the intermediaries. Shareholders must instruct their brokers or other intermediaries investment advisor, stockbroker, bank, trust company or other nominee promptly if they wish to tender their shares to Rio Tinto’s offer.
Shareholders who need assistance tendering their shares to Rio Tinto’s offer can contact Rio Tinto’s information agent, Laurel Hill Advisory Group toll free at 1-877-452-7184 or collect call at 416-637-4661 or email assistance@laurelhill.com.
About Rio Tinto in Canada
Rio Tinto employs over 13,400 people across its extensive operations in Canada, which include mining and manufacturing interests in alumina, aluminium, iron ore, diamonds and titanium dioxide. Rio Tinto also operates exploration activities, research and development centres, port and rail facilities to support various businesses, technical and sales service centres, and substantial hydroelectric power facilities in British Columbia and Quebec. In addition, Canada is home to the global headquarters of Rio Tinto Alcan.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.
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