TSX:TRQ

Turquoise Hill Announces extension of the proxy deadline for the Special Meeting to 6:00 p.m. (Eastern time) October 31, 2022

Retrieved on: 
Monday, October 31, 2022
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The record date for determining the shareholders eligible to vote at the Special Meeting will remain unchanged as the close of business on September 19, 2022 (the Record Date).

Key Points: 
  • The record date for determining the shareholders eligible to vote at the Special Meeting will remain unchanged as the close of business on September 19, 2022 (the Record Date).
  • Any registered shareholders who wish to exercise a right of dissent can also do so up until 6:00 p.m. (Eastern time) on October 31, 2022.
  • The Meeting Materials are filed and available under Turquoise Hills profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .
  • Details of the Special Meeting and how registered shareholders or their duly appointed proxyholders can attend, access and participate in the Special Meeting are set out in the Circular.

Turquoise Hill Board of Directors Remind Minority Shareholders to Vote FOR the Arrangement Resolution to Receive C$43.00 per share in Cash; a 67% Premium

Retrieved on: 
Wednesday, October 26, 2022
Mining, Minerals, Natural Resources, Circular, SEC, TSX, Rio Tinto, NYSE, Board of directors, Toronto Street Railway, TRQ, Canadian House of Commons Special Committee on Electoral Reform, TD, The Sundays, Private Securities Litigation Reform Act, Company, Analysis, The Meeting, Oyu Tolgoi mine, Committee, Legislation, Board, Nature, Letter, Arrangement, Proxy, Environment, Internet, Forward-looking statement, Ownership, Schedule, Meeting, Risk management, Iron ore, Security (finance), Audit

Shareholders must vote prior to 10:30 a.m. (Montreal Time) on October 28, 2022.

Key Points: 
  • Shareholders must vote prior to 10:30 a.m. (Montreal Time) on October 28, 2022.
  • For more details on how to vote, shareholders are encouraged to visit www.turquoisehillacquisition.com .
  • First, your vote is important regardless of how many shares of Turquoise Hill you own.
  • If you are a Beneficial Shareholder, you will receive payment for your shares through your financial intermediary if the Arrangement is completed.

Turquoise Hill Board of Directors Continues to Unanimously Recommend that Minority Shareholders Vote FOR the Arrangement Resolution to Receive C$43.00 per share in Cash; a 67% Premium

Retrieved on: 
Tuesday, October 25, 2022
Communications, Natural Resources, Mining, Minerals, Public Relations, Investor Relations, Time, Circular, Risk, SEC, Review, TSX, Rio Tinto, ISS, NYSE, Board of directors, Toronto Street Railway, Glass Lewis, TRQ, Canadian House of Commons Special Committee on Electoral Reform, Egan-Jones Ratings Company, Montreal, TD, The Sundays, Private Securities Litigation Reform Act, NAV, Company, The Meeting, Analysis, Oyu Tolgoi mine, Committee, Legislation, Board, Nature, Face, Letter, Arrangement, Institutional Shareholder Services, Net interest margin, Proxy, Environment, Internet, Forward-looking statement, Ownership, Schedule, Meeting, Iron ore, Management, Holding company, Security (finance), Audit, Risk management, Turquoise Hill Resources

These equity issuances could not only be dilutive to minority shareholders, but they draw attention to another important consideration.

Key Points: 
  • These equity issuances could not only be dilutive to minority shareholders, but they draw attention to another important consideration.
  • ISS ultimately determined that the discount to NAV implicit in the Rio Tinto offer price outweighed the downside risks that shareholders could face in rejecting the Arrangement.
  • The Special Committee, as did ISS, recognize that different shareholders have different risk tolerances and different outlooks on various factors.
  • The Boards recommendation that minority shareholders vote FOR the transaction has been supported by two proxy advisory firms, Egan-Jones Proxy Services and Glass Lewis.

Institutional Shareholder Services Recommends Turquoise Hill Shareholders Vote “AGAINST” Rio Tinto’s C$43/share Privatization Transaction

Retrieved on: 
Monday, October 24, 2022
Professional Services, Natural Resources, Mining, Minerals, Finance, Institutional Shareholder Services, Sale, Pentwater, TSX, ISS, NYSE, TRQ, Cerberus Capital Management, Legislation, Intention, Proxy, Privatization, Forward-looking statement, Rio, Sales, Cryptocurrency, Security (finance), Turquoise Hill Resources

Pentwater Capital Management LP ("Pentwater"), the largest minority shareholder of Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") (TSX:TRQ) (NYSE:TRQ) welcomes that leading proxy advisor Institutional Shareholder Services has recommended that shareholders of Turquoise Hill vote AGAINST Rio Tintos proposed C$43/share privatization of Turquoise Hill, agreeing with Pentwater that the proposal as currently structured does not fairly value TRQs minority shares.

Key Points: 
  • Pentwater Capital Management LP ("Pentwater"), the largest minority shareholder of Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") (TSX:TRQ) (NYSE:TRQ) welcomes that leading proxy advisor Institutional Shareholder Services has recommended that shareholders of Turquoise Hill vote AGAINST Rio Tintos proposed C$43/share privatization of Turquoise Hill, agreeing with Pentwater that the proposal as currently structured does not fairly value TRQs minority shares.
  • These milestones provide a clear path through what figures to be a period of turbulence
    Based upon its detailed and careful analysis, ISS recommended that shareholders of Turquoise Hill vote AGAINST the proposed transaction.
  • The ISS recommendation reflects a clear and informed rejection of Rio Tintos proposed C$43/share transaction.
  • Certain information in this press release may constitute forward-looking information, as such term is defined in applicable Canadian securities legislation.

Proxy Advisor Glass Lewis Recommends that Turquoise Hill Shareholders Vote “FOR” the Rio Tinto Go-Private Transaction

Retrieved on: 
Wednesday, October 19, 2022
Communications, Natural Resources, Other Communications, Mining, Minerals, Circular, SEC, TSX, Rio Tinto, NYSE, Toronto Street Railway, Glass Lewis, TRQ, Canadian House of Commons Special Committee on Electoral Reform, The Sundays, Private Securities Litigation Reform Act, Company, Analysis, The Meeting, Oyu Tolgoi mine, Legislation, Committee, Board, Nature, Letter, Arrangement, Proxy, Environment, Forward-looking statement, Internet, Ownership, Schedule, Meeting, Iron ore, Risk management, Security (finance), Audit, Director, Turquoise Hill Resources

The Glass Lewis report supports the unanimous recommendation of the special committee of independent members of Turquoise Hills Board of Directors (the Special Committee) that Turquoise Hills minority shareholders vote FOR the resolution approving the Arrangement .

Key Points: 
  • The Glass Lewis report supports the unanimous recommendation of the special committee of independent members of Turquoise Hills Board of Directors (the Special Committee) that Turquoise Hills minority shareholders vote FOR the resolution approving the Arrangement .
  • In making its vote FOR recommendation Glass Lewis noted, among other things, that:
    .
  • we recognize the Companys standalone case could also be reasonably viewed as carrying a relatively elevated risk profile.
  • Shareholders are encouraged to vote in advance of the special meeting of Turquoise Hill shareholders to be held on November 1, 2022 in respect of the Arrangement (the Meeting).

Turquoise Hill Announces Third Quarter 2022 Production and Oyu Tolgoi Mine and Funding Update

Retrieved on: 
Monday, October 17, 2022
Mining, Minerals, Natural Resources, Treaty of friendship and alliance between the Government of Mongolia and Tibet, International, National instrument, Sale, IFRS, Transport, Rio Tinto, AIF, Perception, Panel, Private Securities Litigation Reform Act, Company, United Nations Security Council Resolution 92, Silver, Health, Oyu Tolgoi mine, Legislation, International Financial Reporting Standards, Hugo, OT, Nature, Generally Accepted Accounting Principles (United States), Copper, Metal, Gold, Environment, Public expenditure, Forward-looking statement, Government, Parliament, United Nations Security Council Resolution 103, Lifting, Mining, SEDAR, Risk management, COVID-19

The Q2 2022 MD&A is available under the Companys profile on SEDAR at www.sedar.com .

Key Points: 
  • The Q2 2022 MD&A is available under the Companys profile on SEDAR at www.sedar.com .
  • Ms. Dudley is a qualified person as that term is defined in National Instrument 43-101Standards of Disclosure for Mineral Projects.
  • The cost, timing and complexities of mine construction and development are increased by the remote location of a property such as Oyu Tolgoi.
  • Additionally, although Oyu Tolgoi has achieved commercial production, there is no assurance that future development activities will result in profitable mining operations.

Turquoise Hill Files Amended Schedule 13E-3

Retrieved on: 
Wednesday, October 12, 2022
Mining, Minerals, Natural Resources, U.S. Securities and Exchange Commission, SEC, TSX, Rio Tinto, NYSE, Canada Business Corporations Act, TRQ, Private Securities Litigation Reform Act, Company, Analysis, Oyu Tolgoi mine, Legislation, Board, BMO Capital Markets, Nature, Arrangement, Amendment, Special, Environment, Forward-looking statement, EDGAR, Disclosure, Ownership, Schedule, Compliance, Circular, SEDAR, Audit, Risk management, Turquoise Hill Resources

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) announced today that it has filed an amendment (the Amendment) to its Rule 13e-3 Transaction Statement on Schedule 13E-3 (the Schedule 13E-3) previously filed with the U.S. Securities and Exchange Commission (SEC) on September 29, 2022.

Key Points: 
  • Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) announced today that it has filed an amendment (the Amendment) to its Rule 13e-3 Transaction Statement on Schedule 13E-3 (the Schedule 13E-3) previously filed with the U.S. Securities and Exchange Commission (SEC) on September 29, 2022.
  • As such, shareholders are encouraged to carefully read the Amendment together with the Schedule 13E-3 and the Circular.
  • Turquoise Hill is an international mining company focused on the operation and continued development of the Oyu Tolgoi copper-gold mine in Mongolia, which is the Companys principal and only material mineral resource property.
  • Further information regarding these and other risks, uncertainties or factors included in Turquoise Hills filings with the SEC as well as the Schedule 13E-3 and the Circular.

Turquoise Hill Announces Mailing of Management Information Circular to Consider the $43.00 per share Rio Tinto Transaction

Retrieved on: 
Tuesday, October 4, 2022
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The Meeting Materials are filed and available under Turquoise Hills profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .

Key Points: 
  • The Meeting Materials are filed and available under Turquoise Hills profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov .
  • Details of the Special Meeting and how registered shareholders or their duly appointed proxyholders can attend, access and participate in the Special Meeting are set out in the Circular.
  • Further information regarding these and other risks, uncertainties or factors included in Turquoise Hills filings with the U.S. Securities and Exchange Commission as well as the Schedule 13E-3 transaction statement and the Circular.
  • The forward-looking statements and information contained herein are expressly qualified by this cautionary statement.

Turquoise Hill Announces Receipt of Interim Order for Proposed Arrangement with Rio Tinto and Provides Details of Shareholders’ Meeting

Retrieved on: 
Thursday, September 29, 2022
Mining, Minerals, Natural Resources, Schedule, Arrangement, Circular, TSX, EDGAR, NYSE, Director, TRQ, U.S. Securities and Exchange Commission, Legislation, Special, Supreme Court of Yukon, Nature, Interim order, Company, Compliance, Supreme court, Rio Tinto, Environment, Forward-looking statement, Analysis, Ownership, Minority, Board of directors, Private Securities Litigation Reform Act, Canada Business Corporations Act, Court, Board, SEC, Proxy, SEDAR, Oyu Tolgoi mine, Toronto Stock Exchange, Mining, Security (finance), Audit, Risk management, Turquoise Hill Resources

The Interim Order authorizes the calling and holding of a special meeting (the Special Meeting) of the Companys shareholders, the granting of dissent rights to registered shareholders and other matters relating to the conduct of the Special Meeting.

Key Points: 
  • The Interim Order authorizes the calling and holding of a special meeting (the Special Meeting) of the Companys shareholders, the granting of dissent rights to registered shareholders and other matters relating to the conduct of the Special Meeting.
  • The Interim Order authorizes and orders that the Special Meeting be held on Tuesday, November 1, 2022 at 10:30 a.m. (Montreal time) in person and in virtual format.
  • Details of the Special Meeting and how shareholders or their duly appointed proxyholders can attend, access and participate in the Special Meeting are set out in the Circular.
  • These include, but are not limited to, statements regarding the Arrangement, including the anticipated timing of the Special Meeting.

U.S. Federal Court Dismisses Pentwater Class Action Against Turquoise Hill

Retrieved on: 
Wednesday, September 14, 2022
Communications, Natural Resources, Mining, Minerals, Public Relations, Investor Relations, TSX, NYSE, TRQ, Corporation, Legislation, Nature, Company, LJL, AIF, Pentwater, Environment, Forward-looking statement, Analysis, Paul, Weiss, Rifkind, Wharton & Garrison, Private Securities Litigation Reform Act, Turquoise Hill Resources, District court, Oyu Tolgoi mine, Online gambling, Audit, Risk management

Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) announces that a federal court in New York has dismissed all claims made against the Company and three of its current or former executives in a putative class action, backed by Pentwater Capital Management LP (Pentwater), filed in October 2020.

Key Points: 
  • Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ) (Turquoise Hill or the Company) announces that a federal court in New York has dismissed all claims made against the Company and three of its current or former executives in a putative class action, backed by Pentwater Capital Management LP (Pentwater), filed in October 2020.
  • The Pentwater Funds brought the claims on behalf of a putative class of investors who purchased Turquoise Hill securities from July 17, 2018, to July 31, 2019, in the United States.
  • The case was captioned In re Turquoise Hill Resources, Ltd. Securities Litigation, 20-cv-08585 (LJL), and was filed in the United States District Court for the Southern District of New York.
  • When relying on Turquoise Hills forward-looking statements and information to make decisions with respect to Turquoise Hill, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.