CONFIRMS ADJOURNMENT OF SPECIAL MEETING (5202U)
December 22 2011 - 9:29AM
UK Regulatory
TIDMEGU
RNS Number : 5202U
European Goldfields Ltd
22 December 2011
Suite 200, Financial Plaza
204 Lambert Street
Whitehorse, Yukon
Canada Y1A 3T2
For Immediate Release
EUROPEAN GOLDFIELDS CONFIRMS ADJOURNMENT OF SPECIAL MEETING
22 December 2011 - European Goldfields Limited (AIM: EGU / TSX:
EGU) ("European Goldfields") confirms that, at the Special Meeting
of Shareholders held at the offices of Stikeman Elliott LLP in
Toronto on 22 December 2011, a motion to adjourn the Special
Meeting was approved. The Special Meeting had been called pursuant
to the Notice of Meeting distributed to shareholders on 23
November, 2011 to approve the financing transaction with Qatar
Holding, as described in the Management Information Circular
accompanying the Notice of Meeting 2011 (the "Qatar Holding
Financing").
On 18 December 2011, European Goldfields announced that it had
signed an arrangement agreement with Eldorado Gold Corporation
("Eldorado"), under which Eldorado proposes to acquire all of the
issued and outstanding shares of European Goldfields via a plan of
arrangement under the Yukon Business Corporations Act (the
"Arrangement").
In light of the proposed Arrangement with Eldorado, the motion
was proposed and approved to adjourn the Special Meeting in order
to permit European Goldfields time to prepare, file and mail an
information circular to shareholders describing in detail the
proposed Arrangement, and to place the Arrangement before
shareholders for approval, prior to voting on the proposed Qatar
Holding Financing.
It was resolved that the Special Meeting to vote on the Qatar
Holding Financing would be adjourned until a date to be advised but
which would be after the conclusion of European Goldfields' and
Eldorado's shareholder meetings to approve the proposed
Arrangement, which are currently expected to be held no later than
29 February 2012.
The Company will advise shareholders as to the definitive record
date, circular mailing date and meeting date, to consider the
proposed Arrangement with Eldorado and the date of the adjourned
Special Meeting in respect of the Qatar Holding Financing in due
course.
About European Goldfields
European Goldfields is a developer-producer with globally
significant gold reserves located within the European Union. The
Company generates cash flow from its 95% owned Stratoni operation,
a high grade lead/zinc/silver mine in North-Eastern Greece.
European Goldfields is expected to evolve through development of
its project pipeline of gold and base metal deposits at Skouries
and Olympias in Greece and Certej in Romania. The Company plans
future growth through development of its highly prospective
exploration portfolio in Greece, Romania and Turkey.
Enquiries:
European Goldfields Liberum Capital Limited
Steve Sharpe, SVP Business Development Michael Rawlinson
e-mail: info@egoldfields.com Tom Fyson
Tel: +44 (0)20 7408 9534 Tel: +44 (0)20 3100 2000
Brunswick Evolution Securities Limited
Carole Cable / Fiona Micallef-Eynaud Matthew Tyler
e-mail: egoldfields@brunswickgroup.com Neil Elliot
Tel: +44 (0)20 7404 5959 Tel: +44 (0)20 7071 4300
Lazard & Co., Ltd BMO Capital Markets
Spiro Youakim Egizio Bianchini
Chris Seherr-Thoss Gary Mattan
Tel: +44 (0)20 7187 2000 Tel: +1 (0) 416 359 4001
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS
Certain of the statements made herein may contain
forward-looking statements or information under applicable Canadian
securities laws. Forward-looking statements or information herein
include, but are not limited, to statements or information with
respect to: (i) European Goldfields' agreement with Eldorado and
the anticipated benefits; (ii) the combined company's expected
growth profile; and (iii) the completion of the Arrangement.
Forward-looking statements and forward-looking information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of European Goldfields to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. We have made certain assumptions about
the forward-looking statements and information, including,
assumptions about the price of commodities, the estimated reserve,
resources and production of the combined entity and the impact on
the integration of the business on our operations and financial
position. Even though our management believes that the assumptions
made and the expectations represented by such statements or
information are reasonable, there can be no assurance that the
forward-looking statement or information will prove to be accurate.
Furthermore, should one or more of the risks, uncertainties or
other factors materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements or information. These risks,
uncertainties and other factors include, among others, the
following: the ability to conclude a transaction, commodity price
volatility; discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries; mining
operational and development risk; business integration risks;
litigation risks; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign
investment; currency fluctuations; speculative nature of gold
exploration; global economic climate; dilution; share price
volatility; competition; loss of key employees; additional funding
requirements; and defective title to mineral claims or property.
For a more detailed discussion of such risks and material factors
or assumptions underlying these forward-looking statements, see the
Company's Annual Information Form for the year ended 31 December
2010, filed on SEDAR at www.sedar.com. There can be no assurance
that forward-looking statements or information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
you should not place undue reliance on the forward-looking
statements or information contained herein. The Company does not
intend, and does not assume any obligation, to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
For further information please see the European Goldfields
website at www.egoldfields.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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