Examples of Yamana Shareholders in a sentence
Subject to the terms and conditions of the Plan of Arrangement and the Arrangement Agreement, the Transaction Consideration payable to Yamana Shareholders at closing of the Transaction will consist of 0.6 Gold Fields Consideration Shares issued in exchange for each Yamana Share held at the Effective Time and acquired by Gold Fields pursuant to the Plan of Arrangement in accordance with the Exchange Ratio.
Upon closing of the Transaction, it is anticipated that Gold Fields Shareholders and Yamana Shareholders will own approximately 61% and 39% of the Combined Group, respectively.
The Board of Directors of Yamana ( Yamana Board) has unanimously approved the Transaction and is recommending to Yamana Shareholders that they vote in favour of the Transaction.
The Transaction has a compelling rationale and is expected to provide considerable benefits to the shareholders of Gold Fields ( Gold Fields Shareholders), Yamana Shareholders and the Combined Group’s employees and stakeholders.
The Arrangement Agreement, as a “Permitted Acquisition Agreement” under the Gold Fields Arrangement Agreement, required that, until such time as the Gold Fields Arrangement Agreement had been terminated in accordance with its terms, all of the obligations of Yamana (other than confidentiality and standstill obligations) in the Arrangement Agreement would become effective only upon the Gold Fields Arrangement Agreement not being approved by Yamana Shareholders at the special meeting.
In addition, Yamana Shareholders will be positioned to benefit from the potential re-opening of the Escobal silver mine, one of the world’s premier silver deposits, as well as the growth from the advancement of the La Colorada Skarn project.• Strategic and operational synergies.
The Transaction will require the approval of at least 66⅔% of the votes cast by Yamana Shareholders on the special resolution of Yamana Shareholders approving the Plan of Arrangement voting in person or represented by proxy at a special meeting of Yamana Shareholders called to consider the Transaction ( Yamana Meeting).
Former Yamana Shareholders and Former Pan American Shareholders are expected to own approximately 42.4% and 57.6%, respectively, of the Pan American Shares immediately following completion of the Arrangement based on the number of Pan American Shares and Yamana Shares issued and outstanding as of November 4, 2022, each on a non-diluted basis, and the 1% buffer described under the heading “Business to be Acted Upon at the Special Meeting – Share Issuance Resolution”.
The meeting of Yamana Shareholders to approve the Transaction is scheduled for 21 November 2022, and for a copy of the Yamana circular in relation to that meeting please see Yamana’s profile at www.sedar.com and its website at www.yamana.com.
The Transaction will require the approval of at least 662⁄3% of the votes cast by Yamana Shareholders on the special resolution of Yamana Shareholders approving the Plan of Arrangement voting in person or represented by proxy at a special meeting of Yamana Shareholders called to consider the Transaction ( Yamana Meeting).