ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

TRC Tisdale Resources Corp

0.30
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Tisdale Resources Corp TSXV:TRC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.30 0.32 0.35 0 01:00:00

Teck Recommends That Shareholders Reject "Mini-Tender Offer" by TRC Capital

18/11/2011 8:26pm

Marketwired Canada


Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") has been
notified of an unsolicited "mini-tender" offer by TRC Capital Corporation
("TRC") to purchase up to 3.0 million Class B subordinate voting shares of Teck,
representing approximately 0.5 percent of Teck's outstanding Class B subordinate
voting shares.


The offer price of $35.90 represented a 4.85% discount to the closing price of
Teck's Class B subordinate voting shares on the Toronto Stock Exchange on
November 9, 2011, the day prior to the date of the offer.


Teck recommends that shareholders NOT tender their Class B subordinate voting
shares in response to TRC's mini-tender offer. TRC's mini-tender offer is
subject to many conditions, including a financing condition and a condition that
there shall not have occurred since November 9, 2011 a decrease in the price of
Teck's Class B subordinate voting shares, the Dow Jones Industrial Average, the
S&P 500 Average or a number of other stock indices. Teck does not endorse TRC's
unsolicited mini-tender offer and is not associated with TRC, the mini-tender
offer or the offer documentation. TRC has made many similar unsolicited
mini-tender offers for shares of other companies. Mini-tender offers are
designed to seek less than 5% of a company's outstanding shares, thereby
avoiding many disclosure and procedural requirements applicable to most bids
under Canadian securities legislation.


Shareholders who are considering tendering their shares to TRC's mini-tender
offer are strongly urged to exercise caution with respect to TRC's offer, obtain
current market quotations for their Teck Class B subordinate voting shares,
consult with their financial advisors and carefully examine TRC's mini-tender
offer.


The Canadian Securities Administrators ("CSA") have expressed serious concerns
about mini-tender offers such as the possibility that investors might tender to
a mini-tender offer based upon a misunderstanding of the terms of the offer,
including the per security price available under the offer relative to the
market price of such securities. Comments from the CSA on mini-tenders can be
found at: http://www.bcsc.bc.ca/policy.aspx?id=456. The U.S. Securities and
Exchange Commission has published investor tips regarding mini-tender offers on
its website at: www.sec.gov/investor/pubs/minitend.htm.


According to TRC's current offer documents, Teck shareholders who have already
tendered their shares may withdraw their shares at any time before 12:01 a.m.
(Toronto time) on December 9, 2011, by following the procedures described in the
offer documents.


About Teck

Teck is a diversified resource company committed to responsible mining and
mineral development with major business units focused on copper, steelmaking
coal, zinc and energy. Headquartered in Vancouver, Canada, its shares are listed
on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York
Stock Exchange under the symbol TCK.


1 Year Tisdale Resources Chart

1 Year Tisdale Resources Chart

1 Month Tisdale Resources Chart

1 Month Tisdale Resources Chart

Your Recent History

Delayed Upgrade Clock