Offer for Euro Ressources Successful IAMGOLD Owns 71.6% of Euro Ressources; Offer Re-Opens From December 4 to 17, 2008
December 03 2008 - 12:41PM
Marketwired
IAMGOLD Corporation (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD)
announced today that the final results for its public offer for
Euro Ressources S.A. have been published by the French Autorite des
marches financiers ("AMF") on December 2, 2008. As a result of the
offer, IAMGOLD controls 43,397,457 shares representing 71.6% of the
current share capital of EURO.
With the success of the offer and according to the general
regulations of the AMF, the public offer re-opens for a period of
10 trading days, at the same price of EUR 1.20 per Euro Ressources
share. Shareholders of Euro Ressources wishing to sell will be able
to tender their shares during the period of re-opening which will
commence December 4th and end on December 17th 2008.
Joe Conway, CEO of IAMGOLD stated "We are very pleased with the
success of the offer. It is one of our initiatives to reduce cash
costs at the Rosebel mine. At the current gold price this
acquisition will effectively decrease our cash cost by about $45
per ounce of gold produced at the Rosebel mine. This cost benefit
will be further enhanced in a higher gold price environment."
Since the announcement of the offer in late August, there has
been considerable volatility in the currency markets with a
subsequent decline in the value of the Euro against the US dollar.
IAMGOLD took advantage of this decline to lock in the cost of the
transaction by purchasing Euros at an average exchange rate of
approximately 1.27, a favourable level and close to the current
USD/Euro exchange rate. This compares with the 1.47 USD/Euro
exchange rate level on the date of the announcement in August.
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 made in France in
accordance with French securities laws and is extended in Canada
under the same terms and conditions via an application requesting
exemptive relief from Canadian take-over bid requirements.
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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
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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.
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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)
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ABOUT IAMGOLD
IAMGOLD is the top mid-tier gold producer, with annual
production of almost one million ounces from eight 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.
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) Astrid
Villette +33 (0)1 47 03 68 10 Email: astrid.villette@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) Clement Benetreau +33 (0)1 47 03
68 10 Email: clement.benetreau@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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