IAMGOLD Corporation ("IAMGOLD") (TSX: IMG)(NYSE: IAG)(BOTSWANA:
IAMGOLD) announced today that the French Autorite des marches
financiers ("AMF"), disclosed the final calendar of the tender
offer ("Offer") to acquire all the outstanding shares of Euro
Ressources S.A. ("Euro") in an all cash Offer representing EUR 1.20
per share. The public Offer opened on October 6, 2008 and will
close on November 21, 2008.
Joseph Conway IAMGOLD President & CEO said, "Since the
opening of the Offer the gold price has declined by 14% and the key
gold equity benchmark, the S&P/TSX Gold Index, has declined
45%. In today's volatile market conditions our all cash Offer, more
than ever, provides maximum liquidity through a significant premium
to Euro shareholders(1). I am confident that Euro shareholders will
seize upon this opportunity."
Euro shareholders will receive from their depositary bank the
necessary documentation allowing them to tender to the Offer.
Terms of the Offer:
- The Offer opened on October 6, 2008 and will close on November
21, 2008.
- Shareholders of Euro are to receive EUR 1.20 per share in cash
which represents a premium of 30% based on the closing price of
Euro shares on Euronext on August 28, 2008, which is the last
trading day of Euro prior to the filing of the draft tender offer
in France with the AMF.
- The Offer is for all outstanding Euro shares and for any
shares issuable upon the exercise of subscription options. Based on
publicly available information, Euro's capital structure currently
consists of approximately 60.6 million shares and up to 1.9 million
shares issuable upon the exercise of granted options.
- The Offer is conditional upon IAMGOLD holding a minimum of 50%
plus one share of Euro's capital and voting rights, calculated on a
diluted basis upon closure of the Offer. IAMGOLD indirectly holds
4.9% of Euro and combined with the 2.4% lock-up agreement announced
on October 8, 2008, IAMGOLD controls approximately 7.3% of Euro's
common shares outstanding.
This news release does not constitute an offer or a solicitation
to any person in any jurisdiction in which such offer or
solicitation is unlawful. The offer referred to herein is not being
made or directed to, nor will deposits of shares be accepted from
or on behalf of, shareholders in any jurisdiction in which the
making or acceptance of such offer would not be in compliance with
the laws of such jurisdiction. The offer is extended in Canada via
an application requesting exemptive relief from Canadian take-over
bid requirements.
Copies of the IAMGOLD information note on the Offer, approved by
the AMF, and of the document containing other information relating
to the legal, financial and accounting characteristics of IAMGOLD
are available free of charge from:
- IAMGOLD Corporation: 401 Bay Street, Suite 3200, PO Box 153,
Toronto (Ontario) Canada, M5H 2Y4
- Societe Generale: CAFI/GCM/SEG, 75886 Paris Cedex 18,
France
These documents are also available on the AMF website at
www.amf-france.org.
The information note and a translation into English may be
consulted on IAMGOLD's website at www.iamgold.com and under
IAMGOLD's profile on SEDAR at www.sedar.com.
The offer documents, relating to the Canadian offer are
available free of
charge from:
IAMGOLD Corporation: 401 Bay Street, Suite 3200, PO Box 153,
Toronto
(Ontario) Canada, M5H 2Y4
These documents are also available on IAMGOLD website
www.iamgold.com and
and SEDAR website www.sedar.com (IAMGOLD and Euro section)
ABOUT IAMGOLD
IAMGOLD is the top mid-tier gold producer, with annual
production of close to 1 million ounces from eight different gold
operations located in North America, South America and Africa.
IAMGOLD also owns non-gold assets that provide significant cash
flow and development projects that provide a strong platform for
continued growth. IAMGOLD has delivered seven consecutive years of
annual dividends to its shareholders and the Company's "Gold is our
Currency Policy" demonstrates IAMGOLD's commitment and confidence
in the gold market.
Forward Looking Statement
This press release contains forward-looking statements. All
statements, other than of historical fact, that address activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements regarding the estimation of mineral
resources, exploration results, potential mineralization, potential
mineral resources and mineral reserves) are forward-looking
statements. Forward-looking statements are subject to a number of
risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the
forward-looking statements. Factors that could cause actual results
or events to differ materially from current expectations include,
among other things, failure to establish estimated mineral
resources, the possibility that future exploration results will not
be consistent with the Company's expectations, changes in world
gold markets and other risks disclosed in IAMGOLD's most recent
Form 40-F/Annual Information Form on file with the US Securities
and Exchange Commission and Canadian provincial securities
regulatory authorities. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement.
Please note:
This entire press release may be accessed via fax, e-mail,
IAMGOLD's website at www.iamgold.com and through Marketwire's
website at www.marketwire.com. All material information on IAMGOLD
can be found at www.sedar.com or at www.sec.gov.
Si vous desirez obtenir la version francaise de ce communique,
veuillez consulter le http://www.iamgold.com/fr/accueil.html.
(1) The offer price represents a premium of 30% based of Euro's
last closing price before filing of the Offer.
Contacts: IAMGOLD Corporation Joseph F. Conway President &
CEO (416) 360-4712 or Toll Free: 1-888-IMG-9999 Email:
jconway@iamgold.com IAMGOLD Corporation Elaine Ellingham SVP,
Investor Relations & Communications (416) 360-4743 or Toll
Free: 1-888-IMG-9999 Email: eellingham@iamgold.com Website:
www.iamgold.com Individual Shareholders (France): Toll Free: 0800
630 650 Press Contacts: Financial Dynamics S.A.S. (France)
Guillaume Foucault +33 (0)1 47 03 68 10 Email:
guillaume.foucault@fd.com Financial Dynamics S.A.S. (France)
Michelle Aubert +33 (0)1 47 03 68 10 Email: michelle.aubert@fd.com
Investor contacts: Financial Dynamics S.A.S. (France) Valery
Lepinette +33 (0)1 47 03 68 10 Email: valery.lepinette@fd.com
Financial Dynamics S.A.S. (France) Laurence Borbalan +33 (0)1 47 03
68 10 Email: laurence.borbalan@fd.com Renmark Financial
Communications Inc. (North America) John Boidman (514) 939-3989
(514) 939-3717 (FAX) Email: jboidman@renmarkfinancial.com Renmark
Financial Communications Inc. (North America) Henri Perron (514)
939-3989 (514) 939-3717 (FAX) Email: hperron@renmarkfinancial.com
Website: www.renmarkfinancial.com
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