Coeur Announces Voting Results of Annual Meeting
May 12 2009 - 4:40PM
Business Wire
Coeur d�Alene Mines Corporation (NYSE:CDE) (TSX:CDM)�(ASX:CXC)
today announced results of voting at the Company�s Annual Meeting
of Stockholders, held in Coeur d�Alene. Approximately 63 percent of
outstanding shares were represented at the meeting.
The director nominees: Dennis E. Wheeler, L. Michael Bogert,
James J. Curran, John H. Robinson, Robert E. Mellor, Timothy R.
Winterer, J. Kenneth Thompson, Andrew Lundquist and Sebastian
Edwards were each reelected to Coeur�s Board of Directors. Each was
elected with at least 88% of the votes cast. With the election of
these directors, Coeur currently has nine directors.
Stockholders approved an amendment to the Company�s Articles of
Incorporation to reduce the par value of its common stock from
$1.00 per share to $0.01 per share. The proposal was approved with
approximately 82 percent of votes cast "For."
Stockholders also approved the proposed amendment to authorize
the Board of Directors to effect a reverse stock split of its
common stock at a stock split ratio of 1 for 10. The proposal was
approved with approximately 81 percent of the shares of stock
represented at the meeting voted in favor of the amendment.
Stockholders also approved an amendment to the Articles of
Incorporation to change the number of authorized common shares from
750,000,000 shares to 150,000,000 shares. The proposal was approved
with approximately 81 percent of votes cast "For."
The decision to proceed or not to proceed with the reverse split
and the related change in the number of authorized common shares,
as well as the eventual timing of such actions, will be determined
by the Board of Directors.
Stockholders also ratified the appointment of KPMG as the
Company�s accountants and auditors with approximately 93 percent of
votes cast �For.�
About Coeur
Coeur d�Alene Mines Corporation is one of the world�s leading
silver companies and also a significant gold producer. Coeur will
have its first full year of production this year at the world�s
largest pure silver mine - San Bartolom� in Bolivia � and began
production in March at another world-leading silver mine �
Palmarejo in Mexico. The Company also operates underground mines in
southern Chile and Argentina and one surface mine in Nevada; and
owns non-operating interests in two low-cost mines in Australia.
The Company also owns a major gold project - Kensington in Alaska -
and conducts exploration activities in Argentina, Chile and Mexico.
Coeur common shares are traded on the New York Stock Exchange under
the symbol CDE, the Toronto Stock Exchange under the symbol CDM,
and its CHESS Depositary Interests are traded on the Australian
Securities Exchange under the symbol CXC.
Cautionary Statement
This press release contains forward-looking statements within
the meaning of securities legislation in the United States, Canada,
and Australia, including statements regarding anticipated operating
results. Such statements are subject to numerous assumptions and
uncertainties, many of which are outside the control of Coeur.
Operating, exploration and financial data, and other statements in
this presentation are based on information that Coeur believes is
reasonable, but involve significant uncertainties affecting the
business of Coeur, including, but not limited to, future gold and
silver prices, costs, ore grades, estimation of gold and silver
reserves, mining and processing conditions, construction schedules,
currency exchange rates, and the completion and/or updating of
mining feasibility studies, changes that could result from future
acquisitions of new mining properties or businesses, the risks and
hazards inherent in the mining business (including environmental
hazards, industrial accidents, weather or geologically related
conditions), regulatory and permitting matters, risks inherent in
the ownership and operation of, or investment in, mining properties
or businesses in foreign countries, as well as other uncertainties
and risk factors set out in filings made from time to time with the
SEC, the Canadian securities regulators, and the Australian
Securities Exchange, including, without limitation, Coeur�s reports
on Form 10-K and Form 10-Q. Actual results, developments and
timetables could vary significantly from the estimates presented.
Readers are cautioned not to put undue reliance on forward-looking
statements. Coeur disclaims any intent or obligation to update
publicly such forward-looking statements, whether as a result of
new information, future events or otherwise. Additionally, Coeur
undertakes no obligation to comment on analyses, expectations or
statements made by first parties in respect of Coeur, its financial
or operating results or its securities.
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