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The transaction on consolidation of a 100% stake in Uranium One Inc. by ARMZ Uranium Holding Co. has received court approval in Canada and regulatory approval in Russia, Australia and the USA
The transaction on consolidation of a 100% stake in Uranium One Inc. by ARMZ Uranium Holding Co. has been approved both by the Ontario Superior Court of Justice in Canada, and regulators in Russia, Australia and the USA. The company continues to diligently pursue all required remaining approvals.
Previously, shareholders of Uranium One Inc. supported the consolidation of the company during a special meeting held on March 7, 2013. Approximately 95.75% of the votes cast by shareholders possessing ordinary shares including ARMZ and option holders were voted in favour of the deal. Regardless of ARMZ and affiliated entities’ shares, 86% of the votes cast by minority shareholders supported the plan of arrangement.
Under the terms of the agreement signed in January 2013, ARMZ is set to acquire all of the common shares of Uranium One Inc. for cash consideration of CDN$2.86 per share. These are the securities that JSC Atomredmetzoloto and its affiliates do not already own. In total, minority shareholders will receive approximately CDN$1.3 billion under the deal in exchange for their shares.