EuroZinc adopts poison pill

Vancouver — EuroZinc Mining (EZM-T, EZM-X) has tabled a shareholder’s rights plan to thwart a potential hostile takeover offer for the base metals producer.

The plan will have rights issued and attached to each common share that are exercisable when triggered by a company or group announcing an unsolicited bid to acquire control of EuroZinc or reaching an ownership level of 20% or greater. All shareholders — except the hostile bidders — would be entitled to exercise their rights to purchase a common share at half the market trading price.

In the meantime, EuroZinc received conditional approval to list its shares on the American Stock Exchange.

The company produces copper from its Neves-Corvo mine in southern Portugal and plans to start producing zinc concentrate at the operation in mid-2006. EuroZinc also holds the Aljustrel zinc-lead-silver mine, about 40 km from Neves-Corvo, and is looking at bringing the past-producer into production.

Print

Be the first to comment on "EuroZinc adopts poison pill"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close