Asian Mineral Resources Ltd announces adoption of shareholder rights plan

29-Aug-2007 Intellasia | Marketwire | Asian Mineral Resources (press release) | 7:11 AM Print This Post


Asian Mineral Resources Limited (TSX VENTURE:ASN) (the “Company”) announced today that it is adopting a shareholder rights plan similar to those adopted by other Canadian public listed companies to ensure that persons seeking to acquire control of AMR may do so only by making an “allowed bid”.

Or failing which shareholders other than persons seeking to acquire more than 20% of the issued share capital will be entitled to purchase additional shares of AMR at one-half of the market price at the time the rights become exercisable.

An allowed bid is one open for acceptance for not less than 60 days which is accepted by holders of not less than 50% of the outstanding shares other than those held by the offeror and satisfies certain other conditions. “We believe that the adoption of the shareholder protection rights plan to be in the best interests of our shareholders as a whole,” commented Rob Thomson, President and CEO of A “The plan as adopted by the board must be ratified by shareholders within six months, failing which it will terminate and we will also be seeking TSX-V approval for the plan as adopted.”

Company Profile:

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Vietnamese located Ban Phuc Nickel Project in which it currently has a 90% interest. The Project is part of a granted Foreign Investment License covering 150 square kilometres of highly prospective ultramafic hosted nickel occurrences. For further details on the Co and the Ban Phuc Nickel Project please refer to the website at www.asianminres.com.

Forward-Looking Statements

This press release includes certain “Forward-Looking Statements.” All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralisation and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited’s expectations are disclosed under the heading “Risk Factors” and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

CONTACT INFORMATION:

Asian Mineral Resources Limited

Rob Thomson

President & CEO

+ 84 (4) 943 3462 (Vietnam)

or

Asian Mineral Resources Limited

Judith Webster

Investor Relations

(416) 360-3412 or Cell: (416) 453-8818 (Canada)

Email: info@asianminres.com

Website: www.asianminres.com

 


Category: ResourceAsia

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