Nyrstar Successfully Completes Friendly Offer to Acquire Breakwater Resources Ltd.
![Nyrstar Successfully Completes Friendly Offer to Acquire Breakwater Resources Ltd.](https://www.minenportal.de/media/goldseiten-news.jpg)
26 August 2011
Nyrstar NV ("Nyrstar") today announced that 82,760,567 common shares
("Breakwater Shares") of Breakwater Resources Ltd. (TSX: BWR) ("Breakwater")
(which represent approximately 92.267% of the issued and outstanding Breakwater
Shares on a fully diluted basis) have been validly deposited and taken up under
the offer by Nyrstar to acquire all of the Breakwater Shares (the "Nyrstar
Offer").
The Nyrstar Offer was conditional on a number of customary conditions, including
a minimum acceptance condition of 66 (2)/(3)%, receipt of all regulatory
approvals and no material adverse change in Breakwater's business. All of these
conditions have been satisfied or waived and the Nyrstar Offer is now expired.
Nyrstar has taken up all of the Breakwater Shares deposited under the Nyrstar
Offer. Payment for the deposited shares will be made on 30 August 2011.
As more than 90% of the Common Shares sought were deposited under the Nyrstar
Offer, Nyrstar intends to promptly acquire all of the remaining Breakwater
common shares pursuant to the compulsory acquisition provisions of the Canada
Business Corporations Act. Nyrstar further intends to cause the common shares of
Breakwater to be de-listed from the Toronto Stock Exchange and cause Breakwater
to cease to be a reporting issuer under applicable securities laws as soon as
possible.
Commenting on the Nyrstar Offer, Nyrstar's Chief Executive Officer, Roland
Junck, said,
"The acquisition of Breakwater, in line with our strategy, is an exciting
opportunity to significantly increase our level of zinc integration from 31% to
43%, assuming all mining operations at full production as expected by the end of
2012.
The acquisition will provide immediate production and cashflows and will
reinforce and further diversify our multi-metals profile whilst maintaining our
competitive cash cost position.
Our in-depth market knowledge across our multi-metals value chain will enable us
to extract the maximum value inherit in these poly-metallic ore bodies.
Our immediate focus will be the successful integration of the Breakwater
operations. Nyrstar also remains focused on growth, and our enhanced size and
scale will provide a robust platform for further growth opportunities in zinc
and other metals within our multi-metals portfolio.
We look forward to welcoming the Breakwater employees to Nyrstar."
- end -
For investor information contact:
Anthony Simms, Manager Investor Relations
T 41 44 745 8157, M 41 79 722 2152
anthony.simms@nyrstar.com
For media information contact:
Kate Dinon, Group Manager Corporate Communications
T 41 55 745 8154, M 41 797 228 466
kate.dinon@nyrstar.com
About Nyrstar
The partner of choice in essential resources for the development of a changing
world. Nyrstar is a leading global multi-metals business, producing significant
quantities of zinc and lead as well as other products (including silver, gold
and copper). Nyrstar is listed on NYSE Euronext Brussels under the symbol NYR.
For further information visit the Nyrstar website,www.nyrstar.com.
About Breakwater
Breakwater is a mining, exploration and development company which produces and
sells zinc, copper, lead and gold concentrates to customers around the world.
The Company's concentrate production is derived from three mines in Chile,
Honduras and Canada. Breakwater is preparing the Langlois mine in Quebec, Canada
for production in the first quarter of 2012.
IMPORTANT INFORMATION
This announcement has been prepared by Nyrstar NV (the "Company"). It does not
constitute or form part of, and should not be construed as, an offer,
solicitation or invitation to subscribe for, underwrite or otherwise acquire,
any securities of the Company or any member of its group nor should it or any
part of it form the basis of, or be relied on in connection with, any contract
to purchase or subscribe for any securities of the Company or any member of its
group, nor shall it or any part of it form the basis of or be relied on in
connection with any contract or commitment whatsoever.
The information included in this announcement has been provided to you solely
for your information and background and is subject to updating, completion,
revision and amendment and such information may change materially. Unless
required by applicable law or regulation, no person is under any obligation to
update or keep current the information contained in this announcement and any
opinions expressed in relation thereto are subject to change without notice. No
representation or warranty, express or implied, is made as to the fairness,
accuracy, reasonableness or completeness of the information contained herein.
Neither the Company nor any other person accepts any liability for any loss
howsoever arising, directly or indirectly, from this announcement or its
contents.
This document and any materials distributed in connection with this document are
not directed to, or intended for distribution to or use by, any person or entity
that is a citizen or resident or located in any locality, state, country or
other jurisdiction where such distribution, publication, availability or use
would be contrary to law or regulation or which would require any registration
or licensing within such jurisdiction.
The full press release can be downloaded from the following link:
Press Release (French) :
http://hugin.info/138416/R/1541488/471624.pdf
Press Release (English):
http://hugin.info/138416/R/1541488/471622.pdf
Press Release (Dutch):
http://hugin.info/138416/R/1541488/471623.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nyrstar via Thomson Reuters ONE
[HUG#1541488]
Unternehmen: Nyrstar - ISIN: BE0003876936