AMG Critical Materials N.V.
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Publicatie datum
28 apr 2009 - 00:39
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG Subsidiary Timminco provides further update on financing arrangements
Bericht
Amsterdam, 28 April 2009 --- AMG Advanced Metallurgical Group N.V.'s ("AMG," EURONEXT AMSTERDAM: "AMG") 50.7% owned subsidiary, Timminco Limited ("Timminco"; TSX: TIM), announced today that it has entered into a subscription agreement with its controlling shareholder, AMG to purchase approximately 7.4 million common shares at a price of C$2.02 per share for aggregate gross proceeds of C$15.0 million. This transaction is expected to be completed on or about April 30, 2009. As a result of the transaction, AMG will own approximately 63.9 million common shares of Timminco, representing 53.8% of Timminco's total issued and outstanding share capital. Proceeds of the financing will be used for general corporate purposes, which include the repayment of monies drawn on the Timminco's revolving line of credit.
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