Turquoise Hill Postpones Special Meeting of Shareholders to November 15, 2022
Turquoise Hill Resources Ltd. has postponed its Special Meeting of shareholders to November 15, 2022, initially set for November 1 and November 8, 2022. The delay, requested by Rio Tinto, aims to address matters concerning the dissent rights for holders of Minority Shares. The meeting will discuss Rio Tinto's proposal to acquire the remaining 49% shares at C$43.00 each. Previous votes remain valid, and shareholders can amend their proxy votes until November 11, 2022.
- Rio Tinto's proposal to acquire the remaining 49% of Turquoise Hill shares at C$43.00 per share could lead to increased shareholder value.
- The Special Meeting allows shareholders to discuss important aspects surrounding the acquisition.
- The postponement of the meeting could signal potential delays in the acquisition process.
- Concerns over dissent rights might affect shareholder sentiment and voting outcomes.
The postponement is at the request of Rio Tinto. Rio Tinto has advised the Company that it is making its request for a postponement at the request of the Autorité des marchés financiers (“AMF”). Rio Tinto is engaged in ongoing discussions with Turquoise Hill’s Special Committee of independent directors and the AMF with respect to dissent rights and procedures available to holders of Minority Shares.
The record date for determining the shareholders eligible to vote at the Special Meeting will remain the close of business on
The agenda for the Special Meeting remains unchanged.
Questions
If you have any questions about voting your proxy and the information contained in this press release in connection with the Special Meeting of shareholders please contact our proxy solicitation agent and strategic shareholder advisor,
About Turquoise Hill
Turquoise Hill is an international mining company focused on the operation and continued development of the Oyu Tolgoi copper-gold mine in
Forward-looking Statements and Forward-looking Information
Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company’s 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 harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements and information relate to future events or future performance, reflect current expectations or beliefs regarding future events and are typically identified by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “likely”, “may”, “plan”, “seek”, “should”, “will” and similar expressions suggesting future outcomes or statements regarding an outlook. These include, but are not limited to, statements regarding the Arrangement, including the anticipated timing of the Special Meeting.
Forward-looking statements and information are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements or information. There can be no assurance that such statements or information will prove to be accurate. Such statements and information are based on numerous assumptions regarding the ability of the parties to receive in a timely manner and on satisfactory terms, the necessary shareholder approvals (including the minority approval) and Court approval; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement, and other expectations and assumptions concerning the Arrangement, present and future business strategies, local and global economic conditions, and the environment in which the Company will operate. The anticipated dates indicated may change for a number of reasons, including the inability to receive, in a timely manner, the necessary shareholder approvals (including the minority approval) and Court approval, or the necessity to extend the time limits for satisfying the other conditions to the completion of the Arrangement.
Readers are cautioned not to place undue reliance on forward-looking information or statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Events or circumstances could cause the Company’s actual results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are included the “Risk Factors” section of the Company’s Management Proxy Circular dated
Readers are further cautioned that the lists of factors enumerated in the “Risk Factors” section of the Circular, the “Risk Factors” section of the Company’s Annual Information Form, the “Risks and Uncertainties” section of the Q2 2022 MD&A and the Schedule 13E-3 that may affect future results are not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and potential events and should not rely on the Company’s forward-looking statements and information to make decisions with respect to the Company. Furthermore, the forward-looking statements and information contained herein are made as of the date of this document and the Company does not undertake any obligation to update or to revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements and information contained herein are expressly qualified by this cautionary statement.
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Vice President Investors Relations and Communications
roy.mcdowall@turquoisehill.com
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