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Turquoise Hill Announces New Meeting Date and Additional Information In Connection With Arrangement With Rio Tinto

By AP News - Nov 24, 2022, 06:27 PM ET
Last Updated - Aug 01, 2024, 06:51 AM EDT
 TRQ_construction
The receipt of the Amended Interim Order follows the previously announced termination by Rio Tinto of agreements entered into on November 1, 2022 (the “Named Shareholder Agreements”) between Rio Tinto, Rio Tinto plc (the “Parent”) and certain shareholders of the Company related to Pentwater Capital Management LP and SailingStone Capital Partners LLC (collectively, the “Named Shareholders”) and certain Irrevocable Commitments (as defined below) made by Rio Tinto for the benefit of all holders of Minority Shares, as described in the Company’s November 18, 2022 press release (the “November 18 Press Release”). The Company was not a party to either the entry into or the termination of the Named Shareholder Agreements

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill” or the “Company”) announced today that the Supreme Court of Yukon (the “Court”) has issued an order amending the interim order (as so amended, the “Amended Interim Order”) to, among other things, set a date for the postponed special meeting of Turquoise Hill shareholders (the “Special Meeting”)

MONTREAL--(BUSINESS WIRE)--Nov 24, 2022--

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill” or the “Company”) announced today that the Supreme Court of Yukon (the “Court”) has issued an order amending the interim order (as so amended, the “Amended Interim Order”) to, among other things, set a date for the postponed special meeting of Turquoise Hill shareholders (the “Special Meeting”). Pursuant to the Amended Interim Order, the Special Meeting will be held on December 9, 2022, at 12:00 p.m. (Montreal time) in person at Norton Rose Fulbright Canada LLP, 1 Place Ville Marie, Suite 2500, Chapleau Room, Montreal,Quebec, Canada, H3B 1R1 and in virtual format via live audio webcast at https://web.lumiagm.com/449028588. At the Special Meeting, shareholders will be asked to consider and, if thought advisable, pass a special resolution to approve the previously announced plan of arrangement (the “Arrangement”) under the Business Corporations Act (Yukon) (the “YBCA”) pursuant to which, among other things and subject to the satisfaction or waiver of all applicable conditions precedent, Rio Tinto International Holdings Limited (“Rio Tinto”) will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own (the “Minority Shares”) for C$43.00 per share in cash.

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The receipt of the Amended Interim Order follows the previously announced termination by Rio Tinto of agreements entered into on November 1, 2022 (the “Named Shareholder Agreements”) between Rio Tinto, Rio Tinto plc (the “Parent”) and certain shareholders of the Company related to Pentwater Capital Management LP and SailingStone Capital Partners LLC (collectively, the “Named Shareholders”) and certain Irrevocable Commitments (as defined below) made by Rio Tinto for the benefit of all holders of Minority Shares, as described in the Company’s November 18, 2022 press release (the “November 18 Press Release”). The Company was not a party to either the entry into or the termination of the Named Shareholder Agreements.

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