Sierra Metals Adopts Shareholder Rights Plan
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) has implemented a shareholder rights plan effective December 30, 2024. The plan aims to ensure fair treatment of shareholders during take-over bids and protect against 'creeping bids' for outstanding common shares. Under the plan, rights holders can purchase additional common shares at a 50% discount to market price if rights become exercisable. One right is attached to each existing common share. The plan requires shareholder ratification and Toronto Stock Exchange approval at a special meeting before June 30, 2025, or it will be terminated.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) ha implementato un piano di diritti per gli azionisti che entrerà in vigore il 30 dicembre 2024. Il piano mira a garantire un trattamento equo degli azionisti durante le offerte di acquisto e a proteggere contro le 'offerte furtive' per le azioni ordinarie in circolazione. Sotto il piano, i titolari di diritti possono acquistare azioni ordinarie aggiuntive a un 50% di sconto sul prezzo di mercato se i diritti diventano esercitabili. Un diritto è attaccato a ciascuna azione ordinaria esistente. Il piano richiede la ratifica degli azionisti e l'approvazione della Borsa di Toronto in un'assemblea speciale prima del 30 giugno 2025, altrimenti sarà annullato.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) ha implementado un plan de derechos para los accionistas que entrará en vigor el 30 de diciembre de 2024. El plan tiene como objetivo garantizar un tratamiento justo de los accionistas durante las ofertas de adquisición y proteger contra ofertas 'furtivas' para las acciones ordinarias en circulación. Según el plan, los titulares de derechos pueden comprar acciones ordinarias adicionales con un 50% de descuento sobre el precio de mercado si los derechos se vuelven ejercitables. Un derecho está adjunto a cada acción ordinaria existente. El plan requiere la ratificación de los accionistas y la aprobación de la Bolsa de Valores de Toronto en una reunión especial antes del 30 de junio de 2025, o será cancelado.
시애라 메탈즈 (TSX: SMT | OTCQX: SMTSF | BVL: SMT)는 2024년 12월 30일 발효되는 주주 권리 계획을 시행했습니다. 이 계획은 인수 제안 동안 주주가 공정한 대우를 받을 수 있도록 보장하고, 발행된 보통주에 대한 '침투 제안'을 방지하는 것을 목표로 합니다. 계획에 따라, 권리 보유자는 권리가 행사 가능해질 경우 시장 가격의 50% 할인으로 추가 보통주를 구매할 수 있습니다. 하나의 권리는 각 기존 보통주에 부여됩니다. 이 계획은 주주 승인을 요구하며, 2025년 6월 30일 이전에 개최되는 특별 회의에서 토론토 증권 거래소의 승인을 받아야 하며, 그렇지 않으면 종료됩니다.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) a mis en œuvre un plan de droits des actionnaires qui entrera en vigueur le 30 décembre 2024. Ce plan vise à garantir un traitement équitable des actionnaires lors des offres d'achat et à protéger contre les 'offres rampantes' pour les actions ordinaires en circulation. Dans le cadre du plan, les détenteurs de droits peuvent acheter des actions ordinaires supplémentaires à 50 % de réduction par rapport au prix du marché si les droits deviennent exerçables. Un droit est attaché à chaque action ordinaire existante. Le plan nécessite la ratification des actionnaires et l'approbation de la Bourse de Toronto lors d'une assemblée extraordinaire avant le 30 juin 2025, sinon il sera annulé.
Sierra Metals (TSX: SMT | OTCQX: SMTSF | BVL: SMT) hat einen Aktionärsrechteplan eingeführt, der am 30. Dezember 2024 in Kraft tritt. Der Plan soll die faire Behandlung der Aktionäre während Übernahmeangeboten sicherstellen und gegen 'schleichende Angebote' für ausstehende Stammaktien schützen. Nach dem Plan können Rechteinhaber zusätzliche Stammaktien zu einem 50% Rabatt auf den Marktpreis erwerben, wenn die Rechte ausübbar werden. Ein Recht ist an jede bestehende Stammaktie gebunden. Der Plan erfordert die Genehmigung der Aktionäre und die Zustimmung der Toronto Stock Exchange in einer Sonderversammlung vor dem 30. Juni 2025, andernfalls wird er beendet.
- Implementation of protective measures against hostile takeovers
- 50% discount opportunity for shareholders to purchase additional shares if rights become exercisable
- Equal rights distribution to all current shareholders (one right per common share)
- Plan requires shareholder approval by June 30, 2025, or will be terminated
- Potential dilution risk if rights are exercised
The Rights Plan is designed to ensure that all Sierra Metals shareholders are treated fairly in connection with any take-over bid and to protect against "creeping bids" for the outstanding common shares of Sierra Metals (the "Common Shares") through purchases exempt from applicable take over-bid rules.
Subject to the terms of the Rights Plan, in the event that rights become exercisable under the Rights Plan, holders of the rights (other than the acquiring person and its related parties) will be permitted to exercise their rights to purchase additional Common Shares at a
While the Rights Plan is effective as of December 30, 2024, it is subject to ratification by the Company's shareholders and is subject to approval of the Toronto Stock Exchange. If the Rights Plan is not ratified by the Company's shareholders at a special meeting of shareholders of Sierra Metals on or prior to June 30, 2025, the Rights Plan will terminate, and all rights issued thereunder will be cancelled. A complete copy of the Rights Plan will be available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra Metals and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward- looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra Metals to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241230425554/en/
For further information regarding Sierra Metals, please visit www.SierraMetals.com or contact:
Investor Relations
Sierra Metals Inc.
+1 (866) 721-7437
info@sierrametals.com
Media Relations
John Vincic
Principal, Oakstrom Advisors
+1 (647) 402-6375
john@oakstrom.com
Source: Sierra Metals Inc.
FAQ
What is the purpose of Sierra Metals (SMTSF) shareholder rights plan?
When does Sierra Metals (SMTSF) rights plan become effective?
What discount do SMTSF shareholders get under the rights plan?
What happens if SMTSF shareholders don't ratify the rights plan by June 30, 2025?
How many rights does each SMTSF common share receive?
