Turquoise Hill Announces Receipt of Final Order for Arrangement with Rio Tinto
Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) today announced that the Supreme Court of Yukon (the Court) has granted the final order (the Final Order) in connection with the previously announced statutory plan of arrangement under section 195 of the Business Corporations Act (Yukon), pursuant to which Rio Tinto International Holdings Limited (Rio Tinto) will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own (the Minority Shares) for C$43.00 per share in cash (the Arrangement).
- Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) today announced that the Supreme Court of Yukon (the Court) has granted the final order (the Final Order) in connection with the previously announced statutory plan of arrangement under section 195 of the Business Corporations Act (Yukon), pursuant to which Rio Tinto International Holdings Limited (Rio Tinto) will acquire the approximately 49% of the issued and outstanding common shares of Turquoise Hill that Rio Tinto and its affiliates do not currently own (the Minority Shares) for C$43.00 per share in cash (the Arrangement).
- The Arrangement is expected to be completed on or about December 16, 2022, subject to the delivery by the parties of customary closing deliverables.
- Following completion of the Arrangement, Turquoise Hill intends to apply to have its common shares delisted from the Toronto Stock Exchange and the New York Stock Exchange and to cease to be a reporting issuer under Canadian securities laws.
- These include, but are not limited to, statements regarding the Arrangement, including the anticipated date of closing of the Arrangement.