"Regular Way" Trading of Ivanhoe Mines Rights Begins in the US on June 28
June 27 2012 - 5:40PM
Marketwired
Ivanhoe Mines Ltd. (TSX:IVN)(TSX:IVN.RT)(NYSE:IVN)(NYSE:IVN
RT)(NYSE:IVN.R)(NASDAQ:IVN)(NASDAQ:IVN RT)(NASDAQ:IVN.R) -
Ivanhoe Mines announced today that rights to be issued under the
company's previously announced rights offering will begin "regular
way" trading on the New York Stock Exchange (NYSE) and NASDAQ Stock
Market on June 28, 2012.
On the NYSE and NASDAQ, the Ivanhoe rights will begin trading
under the symbol IVN RT and IVN.R, respectively.
On the Toronto Stock Exchange (TSX), the Ivanhoe rights will
continue to trade as usual under the symbol IVN.RT.
Details of the rights offering are contained in the final
prospectus dated June 7, 2012, which is available on SEDAR and
EDGAR. The rights offering was summarized in a news release issued
by Ivanhoe Mines on June 8, 2012.
Key terms contained in the final prospectus for the rights
offering include:
-- Each Ivanhoe Mines shareholder has received one transferable right for
each share of common stock owned as of June 19, 2012, the record date
for the rights offering.
-- Every 20 rights will entitle the holder to purchase seven (7) common
shares of Ivanhoe Mines.
-- Each holder may choose a subscription price of either US$7.00 per share
or CDN$7.17 per share. The US and Canadian subscription prices represent
a discount of approximately 32% to the closing prices of US$10.31 on the
NYSE and CDN$10.62 on the TSX on June 7, 2012.
-- Approximately 260 million common shares are expected to be issued under
the rights offering, which would represent approximately 35% of
Ivanhoe's current outstanding shares.
-- A rights-offering prospectus and rights certificate was mailed on June
27, 2012, to each shareholder of record subject to applicable law.
-- The rights offering will be open for exercise for 21 days from the date
of mailing to shareholders and will expire at 5:00 p.m. Eastern Standard
Time (EST) on July 19, 2012.
-- Trading of the rights on the TSX will stop at noon (EST) on July 19,
2012. On the NYSE and NASDAQ, trading of the rights will stop at the
close of trading on July 18, 2012.
-- Shareholders who do not wish to exercise their rights to buy new common
shares under the offering will have the option of selling the rights
that they receive from Ivanhoe Mines through the TSX, the NYSE or
NASDAQ.
-- Shareholders who do not exercise all of their rights will have their
present ownership interests in Ivanhoe Mines reduced, as a percentage of
the total outstanding common shares, as a result of the rights offering.
Rio Tinto has committed to take up its full basic subscription
privilege under the rights offering with respect to its 51%
shareholding in Ivanhoe, subject to certain conditions. Rio Tinto
will also provide a standby commitment for the full amount of the
US$1.8 billion rights offering, subject to certain conditions
including the price of Ivanhoe's common shares on the NYSE not
falling below the subscription price at any time on or after the
fifth business day before the expiry of the rights. Under the
standby commitment, Rio Tinto is required to acquire any Ivanhoe
common shares not taken up under the rights offering.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Ivanhoe Mines
Ivanhoe Mines (TSX: IVN)(NYSE:IVN)(NASDAQ:IVN) is an
international mining company with operations focused in the Asia
Pacific region. Assets include the company's 66% interest in the
Oyu Tolgoi copper-gold-silver mine development project in southern
Mongolia; a 58% interest in Mongolian coal miner SouthGobi
Resources (TSX:SGQ)(HK:1878); a 59% interest in copper-gold miner
Ivanhoe Australia (TSX:IVA)(ASX:IVA), which also is developing a
molybdenum-rhenium discovery; and a 50% interest in Altynalmas
Gold, a private company developing the Kyzyl Gold Project in
Kazakhstan.
Ivanhoe Mines' shares are listed on the New York, NASDAQ and
Toronto stock exchanges under the symbol IVN.
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 harbour" 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 whether
or not the above contemplated rights offering will be successfully
completed in the future, statements regarding the gross proceeds
expected to be raised thereby and the number and percentage of
shares expected to be issued thereunder, and other statements that
are not historical facts.
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 Factors" included in the final prospectus or in the
company's Annual Information Form, both filed on SEDAR and EDGAR.
The reader is cautioned not to place undue reliance on
forward-looking information or statements.
The issuer has filed a registration statement (including a
prospectus) with the SEC for the offering to which this
communication relates. Before investing, individuals should read
the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information
about the issuer and this offering. The documents are available
free of charge by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, the issuer will arrange to send you the prospectus
if you request it by calling 1-604-688-5755.
Contacts: Ivanhoe Mines Jason Combes Investors +1
604.648.3920jasonco@ivancorp.net Ivanhoe Mines Tony Shaffer Media
+1 604.648.3934tonysh@ivancorp.net
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