Apr 26 2017
Stillwater Mining Company today announced that its shareholders adopted the merger agreement with Sibanye Gold Limited at Stillwater’s annual shareholder meeting.
In addition, Sibanye earlier today announced that its shareholders approved the transaction and the related issuance of shares by Sibanye in a rights offering.
Stillwater shareholders owning a total of 103,088,167 shares of the 121,389,213 shares issued and outstanding on the record date were voted at the meeting. A total of 91,012,990 shares, representing 75% of the outstanding shares, and 88% of shares voted, voted in favor of the merger agreement.
Commenting on the voting results, Mick McMullen, the Company’s President and Chief Executive Officer stated, “We are pleased with the tremendous shareholder support for the Sibanye transaction. We believe this is a very good outcome for Stillwater and delivers certain value of $18 per share in cash to our shareholders. I would like to thank our Board, management, workforce and advisors for the work that has gone into improving our business and delivering this transaction.”
Subject to customary closing conditions in accordance with the merger agreement, the merger is expected to close on or about May 4, 2017.
Source: http://investorrelations.stillwatermining.com/phoenix.zhtml?c=99837&p=irol-newsArticle&ID=2264679