AMG Critical Materials N.V.
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Publicatie datum
27 jan 2009 - 01:06
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG Subsidiary Timminco Completes C$25 Million Equity Financing to Strengthen Balance Sheet
Bericht
AMG maintains at least 50.3% ownership position in Timminco
Amsterdam, 27 January 2009 --- AMG Advanced Metallurgical Group N.V.'s ("AMG", EURONEXT AMSTERDAM: "AMG") 50.34% subsidiary Timminco Limited ("Timminco"; TSX: TIM) has agreed to issue a total of 7.04 million common shares at a price of C$3.55 per share for aggregate gross proceeds of C$25.0 million. This equity financing will be by way of private placement to certain investors, including Timminco's controlling shareholder, AMG. AMG has agreed to subscribe for a minimum of 3.55 million common shares to be issued in this financing, at the same price per share offered to all other investors, representing C$12.6 million of the expected gross proceeds. In addition, AMG has agreed to purchase any of the remaining 3.49 million common shares that are not subscribed for by other investors in this financing, at the same price per share, subject to normal closing conditions. Proceeds of the financing will be used for general corporate purposes.
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