Rus News Journal

Norilsk nickel has received more than 97,7 % of actions LionOre

Open Society GMK Norilsk nickel has received more than 97,7 % of actions LionOre by the time of the expiry of the term of action of the offer and has started the compulsory repayment of remained actions LionOre. On it informs a press - service Nornikelja .
we Will remind that Open Society Norilsk nickel has prolonged till August, 13th 2007. Period of validity of the offer on the repayment of actions LionOre.
As it was informed earlier, the increase in period of validity of the offer gave additional possibility to holders of convertible bonds LionOre with repayment term in 2011. To convert them in ordinary actions LionOre and to bring the given actions in depozitary as the offer acceptance Norilsk nickel . It will allow holders of bonds to receive the annual percentage income which is subject to payment according to conditions of convertible bonds. Thus, holders of bonds can receive the greatest payment in short terms after converting and entering of ordinary actions in depozitary, without expecting carrying out Norilsk nickel the subsequent transaction on compulsory absorption. This fourth prolongation of the offer Nornikelja under the repayment of actions of the Canadian company.
Norilsk nickel on June, 29th 2007. Has received acknowledgement of that all conditions of the offer have been executed. The company through the 100 - percentage affiliated structure has agreed to accept actions LionOre which have been brought in depozitary. On July, 3rd 2007. Norilsk nickel has carried out full payment of the brought actions and by that has got control over LionOre.
Open Society GMK Norilsk nickel on June, 29th 2006. Has informed that has got about 90 % of actions (201 million 089 thousand 154 ordinary actions) LionOre and prolongs term of the offer till July, 10th 2007. About 90 % of ordinary actions LionOre it has been brought by shareholders in depozitary as the offer acceptance Nornikelja about acquisition of actions LionOre within the limits of the offer at the price of 27,50 Canadian dollars for the action up the time of the offer expiry of the term on June, 28th 2007.
GMK Norilsk nickel makes precious and nonferrous metals. On a company share it is necessary more than 20 % of world production of nickel, more than 10 % of cobalt and 3 % of copper. In the domestic market on Open Society share GMK Norilsk nickel 55 % of copper, 95 % of cobalt are necessary about 96 % of all nickel made in the country. Market capitalisation Norilsk nickel the Company exceeds 36 mlrd dollars is the sixth in the world the public mining company on an indicator of market capitalisation.
LionOre is engaged in manufacture of nickel, gold in Australia, Botswana and Southern Africa. In 2006. The company has made 34 thousand 094 t the paid nickel and 155 thousand 203 ounces of gold. Also LionOre makes a significant amount of collateral metals, such as copper, cobalt and metals of platinum group.