Aurizon Announces That Leading Independent Proxy Advisory Firm Institutional Shareholder Services Inc. (ISS) Has Recommended ...
April 24 2013 - 6:54PM
Marketwired
The Board of Directors of Aurizon Mines Ltd. (TSX:ARZ)(NYSE
MKT:AZK) ("Aurizon" or the "Company") announced today that
Institutional Shareholder Services Inc. ("ISS") has recommended
that its clients vote FOR a special resolution approving the
proposed transaction whereby Hecla Mining Company ("Hecla") will
acquire all of the issued and outstanding common shares of Aurizon,
in exchange for CAD$4.75 per Aurizon share or 0.9953 of a Hecla
share or a combination of both, subject in each case to pro-ration
based on a maximum cash consideration of approximately CAD$513.6
million and a maximum of approximately 57,000,000 Hecla shares (the
"Hecla Arrangement").
ISS is a leading independent international corporate governance
analysis and proxy advisory firm. ISS makes its recommendation
after carefully considering what is in the best interests of
shareholders. Its recommendations assist shareholders in making
voting choices regarding proxy voting decisions.
In making its recommendation that Aurizon shareholders vote FOR
the resolution pertaining to the Hecla Arrangement, ISS said:
"It appears that the Hecla Arrangement represents a superior
proposal to the prior Alamos offer. The Arrangement provides a
maximum Cash Consideration of approximately $513.6 million, 68%
higher than the maximum $305 million cash that was available under
the Alamos offer. In light of the improved transaction terms, the
significant premium and no significant governance concerns, a vote
FOR this resolution is warranted."(i)
The board of directors of Aurizon unanimously recommends that
Aurizon securityholders vote to approve the Hecla Arrangement, and
each of the directors and senior officers of Aurizon has agreed to
support the Hecla Arrangement.
Said David Hall, Chairman of Aurizon: "We are pleased that ISS
has affirmed our recommendation that Aurizon securityholders vote
in favour of the Hecla Arrangement at the Special Meeting in person
or by proxy. This is an important resolution, and we urge all
securityholders vote, no matter how many shares you hold or
control."
Special Meeting
The special meeting of the shareholders and optionholders of
Aurizon and will be held on May 9, 2013 at The Vancouver Club, in
the University Room, 3rd Floor, 915 West Hastings Street,
Vancouver, BC, V6C 1C6 at 1:00 p.m. PST.
How to vote
Instructions for Aurizon securityholders on how to vote and how
to elect the form of consideration they wish to receive under the
Hecla Arrangement are included in the Proxy Circular that was
mailed to shareholders on April 12, 2013 and filed with SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. Copies of the Special
Meeting materials are also available on Aurizon's website at
www.aurizon.com under the Hecla Agreement tab.
For assistance
Shareholders who have questions or require any assistance in
completing their proxy or voting instruction form can contact
Georgeson by calling toll free in North America at 1-888-605-7616,
calling collect from outside North America at 1-781-575-2422, or by
email at askus@georgeson.com.
Details of the Hecla Agreement
Under the terms of the Hecla Agreement announced on March 4,
2013, Aurizon shareholders may elect to receive in exchange for
each Aurizon share, CAD$4.75 per share or 0.9953 of a Hecla share
or a combination of both, subject in each case to pro-ration based
on a maximum cash consideration of approximately CAD$513.6 million
and a maximum of approximately 57,000,000 Hecla shares. Assuming
that all shareholders elect to receive either cash or Hecla shares,
the consideration will be fully pro-rated with each shareholder
being entitled to receive CAD$3.11 in cash and 0.3446 of a Hecla
share for each Aurizon share.
(i) Permission to quote from the ISS Report was neither sought
nor obtained.
About Aurizon
Aurizon is a gold producer with a growth strategy focused on
developing its existing projects in the Abitibi region of
north-western Quebec, one of the world's most favourable mining
jurisdictions and prolific gold and base metal regions, and by
increasing its asset base through accretive transactions. Aurizon
shares trade on the Toronto Stock Exchange under the symbol "ARZ"
and on the NYSE MKT under the symbol "AZK". Additional information
on Aurizon and its properties is available on Aurizon's website at
www.aurizon.com.
U.S. Registration (File 001-31893)
About Hecla
Established in 1891, Hecla believes it is the largest and
lowest-cost primary silver producer in the U.S. The company has two
operating mines and exploration properties in four world-class
silver mining districts in the U.S. and Mexico. Additional
information on Hecla and its properties is available on its website
at http://hecla-mining.com.
Contacts: Media Contact: Longview Communications Trevor Zeck
(604) 694-6037 Aurizon Mines Ltd. Jennifer North Manager Investor
Relations 604-687-6600 or Toll Free: 1-800-411-GOLD (4653)
604-687-3932 (FAX)jennifer.north@aurizon.com / info@aurizon.com
www.aurizon.com Information Agent Georgeson Toll Free (North
America): 1-888-605-7616 Outside North America Call Collect:
1-781-575-2422askus@georgeson.com
Aurizon Mines (AMEX:AZK)
Historical Stock Chart
From Apr 2024 to May 2024
Aurizon Mines (AMEX:AZK)
Historical Stock Chart
From May 2023 to May 2024