Andean Resources: Results of Scheme Meeting
SALT LAKE CITY, UTAH -- (Marketwire) -- 12/02/10 -- At the Scheme Meeting of Andean Resources Limited (Andean) (TSX: AND)(ASX: AND) held in Sydney this morning, the requisite majority of Andean shareholders voted in favour of the scheme of arrangement (Scheme) between Andean and its Shareholders, to effect the acquisition of Andean by Goldcorp, Inc (Goldcorp).
A copy of the official results of the Scheme Meeting is attached - in summary:
Number of votes cast by holders 'in favour' of the resolution 305,324,750
Votes in favour of the resolution as a percentage of the total
number of votes cast on the resolution 99.88%
Number of shareholders voting in favour of the resolution as a
percentage of the total number of shareholders voting on the
resolution 93.72%
Andean will now seek court orders from the Federal Court of Australia for approval of the Scheme at a hearing scheduled for 8 December 2010.
If the Federal Court of Australia approves the Scheme, Andean proposes to lodge the court orders with the Australian Securities and Investments Commission and ASX so that the Scheme becomes effective on 8 December 2010.
If this occurs, Andean's shares will be suspended from trading:
-- on ASX at the close of trading on 9 December 2010 (Sydney time); and
-- on TSX at the close of trading on 9 December 2010 (Toronto time).
The results of Andean's Annual General Meeting held today are also attached.
ANDEAN RESOURCES LIMITED Proxy Summary
Scheme Meeting Friday, 3 December 2010
1) Approve Scheme as set in Notice of Scheme Meeting
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
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304,511,627 364,700 10,057 669,088
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The motion was carried as a special resolution on a poll the details of
which are:
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For Against Abstain
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305,324,750 364,700 10,057
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2) Ratification of the appointment of Mr Charles Winograd as a Director
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
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291,855,867 2,504,633 10,272,989 1,090,013
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The motion was carried as an ordinary resolution on a show of hands.
3) Adoption of the Remuneration Report
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
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289,486,520 4,873,665 10,273,304 1,090,013
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The motion was carried as an ordinary resolution on a show of hands.
4a) Approval of issue of Shares and Options to Mr Wayne Hubert
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
----------------------------------------------------------------------------
249,832,186 44,324,020 10,275,538 245,287
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The motion was carried as an ordinary resolution on a show of hands.
4b) Approval of issue of Shares to Mr Charles Winograd
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
----------------------------------------------------------------------------
250,002,943 44,359,408 10,276,138 245,287
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The motion was carried as an ordinary resolution on a show of hands.
4c) Approval of issue of Performance Rights to Mr Charles Winograd
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
----------------------------------------------------------------------------
250,066,356 44,277,670 10,286,698 245,287
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The motion was carried as an ordinary resolution on a show of hands.
5) Cancellation of Options
The instructions given to validly appointed proxies in respect of the
resolution were as follows:
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Proxy's
For Against Abstain discretion
----------------------------------------------------------------------------
251,539,807 42,725,144 10,349,749 902,057
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The motion was carried as an ordinary resolution on a show of hands.
A.B.N. 66 064 494 319
Contacts:
Andean Resources Ltd.
Krista Muhr, Vice President, Investor Relations
In North America: 1.647.330.1478
In Australia: 61 (0) 448.886.460
krista.muhr@andeangold.com
www.AndeanGold.com