Business News • MarketWire • Ellington Investments Pte. Ltd. Announces Extension of Exchange Satisfaction Deadline |
Ellington Investments Pte. Ltd. Announces Extension of Exchange Satisfaction Deadline |
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Ellington Investments Pte. Ltd. Announces Extension of Exchange Satisfaction Deadline
TORONTO, ONTARIO--(Marketwire - Sept. 29, 2010) - Pursuant to a subscription agreement between Ellington Investments Pte. Ltd. ("Ellington"), an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited, Inmet Mining Corporation ("Inmet") and CIBC Mellon Trust Company, as subscription receipt agent, Ellington has purchased 9,258,419 subscription receipts of Inmet at a price of $54.0049 per subscription receipt for a total subscription price of $500 million which are exchangeable for no consideration upon the satisfaction of certain conditions into 9,258,419 common shares of Inmet ("Shares"). Pursuant to the terms of the subscription agreement, the deadline for exchanging the subscription receipts into Shares is September 30, 2010 or such later date as the parties may agree to in writing. The parties have now agreed in writing that this deadline shall be December 31, 2010.
View More : http://www.marketwire.com/mw/release.do?id=1327278&sourceType=3
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