Ivanhoe Mines' Shareholders' Rights Plan Approved at Annual General and Special Meeting
May 07 2010 - 2:14PM
Marketwired
Ivanhoe Mines Ltd. (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) announced
that shareholders overwhelmingly approved all resolutions brought
before them at the company's Annual General and Special Meeting
held in Vancouver today, including approving the company's
previously announced shareholders' rights plan. The plan was
supported by 95.7% of the votes cast by Ivanhoe Mines' minority
shareholders.
The adoption of the plan will ensure fair treatment of all
Ivanhoe Mines shareholders during any takeover bid for Ivanhoe's
outstanding common shares, or any other transaction that would
involve a change of control.
The complete text of the amended and restated shareholders'
rights plan is available for public viewing on the Internet at
www.sedar.com, or upon request from Ivanhoe Mines.
Tracy Stevenson elected to Ivanhoe Board of Directors
Ivanhoe Mines shareholders also passed a resolution to elect
Tracy Stevenson, B.Sc., CPA, as a member of the Board of Directors.
Mr. Stevenson was nominated to the board by Rio Tinto, becoming the
company's second appointment to the Ivanhoe board under provisions
of Ivanhoe's five-year strategic agreement with Rio Tinto. It is
expected that he will qualify as an independent Director effective
June 1, 2010.
Mr. Stevenson is a senior mining industry executive with
international experience in finance, mergers and acquisitions,
strategic planning, corporate governance, auditing, administration,
information systems and technology. Mr. Stevenson retired in 2007
after 26 years with Rio Tinto and related companies, where he held
a number of senior leadership positions and was involved with major
exploration, development and financing projects.
About Ivanhoe Mines
Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) is an
international mining company with operations focused in the Asia
Pacific region. Core assets include the company's 66% interest in
the Oyu Tolgoi copper-gold mine development project in southern
Mongolia; its 57% interest in Mongolian coal miner SouthGobi Energy
Resources (TSX: SGQ; HK: 1878); an 81% interest in Ivanhoe
Australia (ASX: IVA), a copper-gold-uranium-molybdenum-rhenium
exploration and development company; and a 50% interest in
Altynalmas Gold Ltd., a private company developing the Kyzyl Gold
Project in Kazakhstan.
Forward-looking statements:
Certain statements made herein, including statements relating to
matters that are not historical facts and statements of our
beliefs, intentions and expectations about developments, results
and events which will or may occur in the future, constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation and "forward-looking statements"
within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995.
Forward-looking information and statements are typically identified
by words such as "anticipate", "could", "should", "expect", "seek",
"may", "intend", "likely", "plan", "estimate", "will", "believe"
and similar expressions suggesting future outcomes or statements
regarding an outlook. These include, but are not limited to,
statements with respect to Mr. Stevenson's expected qualification
as as an independent Director on June 1, 2010.
All such forward-looking information and statements are based on
certain assumptions and analyses made by Ivanhoe Mines' management
in light of their experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. These statements, however, are subject to a variety
of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those projected
in the forward-looking information or statements. Important factors
that could cause actual results to differ from these
forward-looking statements include those described under the
heading "Risks and Uncertainties" elsewhere in the Company's
MD&A filed at www.SEDAR.com. The reader is cautioned not to
place undue reliance on forward-looking information or statements.
Except as required by law, the Company does not assume the
obligation to revise or update these forward-looking statements
after the date of this document or to revise them to reflect the
occurrence of future, unanticipated events.
Contacts: Investors: Ivanhoe Mines Ltd. Bill Trenaman
+1.604.688.5755 Media: Ivanhoe Mines Ltd. Bob Williamson
+1.604.331.9830 www.ivanhoemines.com
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