EURO Ressources: ESTABLISHMENT OF A SPECIAL COMMITTEE
21 Novembre 2023 - 8:59PM
ESTABLISHMENT OF A SPECIAL
COMMITTEE
Paris, France, November 21, 2023: The Board of
Directors of EURO Ressources S.A. ("EURO" or "the Company") (Paris:
EUR) convened on October 6, 2023 to consider the intention of
IAMGOLD Corporation and its 100%-owned subsidiary IAMGOLD France
SAS to file a buy-out offer followed by a squeeze-out (offre
publique de retrait suivi d'un retrait obligatoire).
In accordance with article 261-1-III of the
general regulations of the Autorité des Marchés Financiers ("AMF"),
the Board of Directors of the Company thus convened established a
Special Committee comprised of Mr. David Watkins as Chairman
(independent director), Mr. Ian Smith (independent director) and
Mrs. Susanne Hermans (independent director).
The Special Committee is responsible for
proposing to the Board of Directors the appointment of an
independent expert, supervising the mission of the expert and
making a recommendation to the Board of Directors on the intended
offer.
Following the recommendations of the Special
Committee, the Board of Directors, convened on October 17, 2023,
appointed Sorgem Evaluation, represented by Claire Karsenti, as
independent expert.
On November 14, 2023, IAMGOLD France SAS filed
with the AMF a proposed buy-out offer for the Company's shares, in
accordance with article 236-3 of the general regulations of the AMF
(the "Offer").
The Board of Directors will issue a reasoned
opinion on the proposed Offer after reviewing the report of the
independent expert report and the recommendation of the Special
Committee.
The report of the independent expert and the
reasoned opinion of the Board of Directors of the Company will be
included in the Company's draft reply notice.
About EURO
EURO is a French company whose main assets are a
royalty on the Rosebel Gold Mine production in Suriname (the
“Rosebel Royalty”), a royalty on the Paul Isnard concessions, a
silver stream from a subsidiary of Orezone Gold Corporation
(“Orezone”) and marketable securities. Rosebel Gold Mines is
95%-owned and operated by Zijin Mining Group Co. Ltd. The existing
royalty on Rosebel held by EURO will remain an obligation of
IAMGOLD. The royalty on the Paul Isnard concessions is a net
smelter returns production royalty on future production of the Paul
Isnard concessions and an area of interest surrounding the
concessions in French Guiana, owned by the Montagne d’Or project
holding company which 44.99% is owned by Orea Mining Corp.
(“Orea”). The silver stream entitles EURO to receive 50% of the
payable silver production over the life of mine on Orezone’s
Bombore mine, located in Burkina Faso, West Africa.
EURO has approximately 62.5 million shares
outstanding. At October 31, 2023, IAMGOLD France S.A.S. (“IAMGOLD
France”), an indirect wholly owned subsidiary of IAMGOLD, owned 90%
of all issued outstanding shares of EURO. As at October 31, 2023,
IAMGOLD France held 56,242,153 shares representing 112,300,344
voting rights or 94.37% of the voting rights of EURO.
Statements Regarding Forward-Looking
Information: Some statements in this news release are
forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain and involve
risks and uncertainties. There can be no assurance
that future developments affecting the Company will be those
anticipated by management.
Not for distribution to United States newswire
services or for dissemination in the United States. The securities
referred to herein have not been registered under the United States
Securities Act of 1933, as amended (the Securities Act), and may
not be offered or sold in the United States or to a U.S. person
absent registration, or an applicable exemption from the
registration requirements of the Securities Act.
Additional information relating to
EURO Ressources S.A. is available on SEDAR at
www.sedar.com. Further requests for information should be addressed
to:
Tidiane BarryDirecteur GénéralTel: +1 450 677 0040Email:
tbarry@euroressources.net |
Sophie
HalléDirecteur Général DéléguéTel: +1 450 677 0040Email :
shalle@euroressources.net |
- PR 23-10EN 2023 11 21 EURO - News release - Estalishment
Special Committee
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