Kinross Gold issued a press release today with the following headline:
KINROSS NOW OWNS 90.7% OF AURELIAN SHARES
That may be true – but it is also misleading. The truth of the matter is, for the purposes of the acquisition, what they state further down in the press release:
“Kinross now beneficially owns ….. 89.7% of the Aurelian shares excluding the 15 million shares acquired by Kinross prior to the offer. “
As a result, Kinross has extended its offer to September 29th. Now, it appears all but inevitable that Kinross will hit its 90% and force a compulsory acquisition … but they can’t – I won’t allow them – to use semantics to take away yet another important victory from the Aurelian AGORACOM Community, an intelligent and determined group of investors that fought Goliath and won 3 voting battles + the moral vote.
Hats off to the entire Crew. You are pioneers that have paved the way for future investors that can fight based on your example. More importantly, large Canadian companies have been served notice that retail investors have not just a voice, not just a vote but a powerful voting voice that demands to be heard.
Regards,
George
[…] RESOURCES – The “Friendly” takeover of Aurelian Resources that nonetheless forced Kinross Gold Corp to renew their offer an unprecedented 4 times before finally winning control. This was the first shot across the bow. We sent a loud message to […]
[…] Kinross Gold issued a press release in September with the following headline: KINROSS NOW OWNS 90.7% OF AURELIAN SHARES. That may be true – but it is also misleading. Read more… […]