Uramin Share Discussion Threads

[thecat] 15/6/2007 15:01

Plenty of press speculation, just right for the weekend.

[marnewton] 15/6/2007 14:54

Well, the market seems to think there's a counter-bid in the pipeline...or Areva are hoovering up shares at any reasonable price.

M

[nickcduk] 15/6/2007 14:53

Apologies for my 370p comment earlier. I hadn't read the announcement properly and used C$ rather than US$ in my calcs. It looks a really good risk/reward at current levels. Only a few pence downside and the upside of any potential rival bid. The Niger Uranium dividend will be worth a fair few pence if the same management are kept on board.

[nickcduk] 15/6/2007 14:33

More like 370p + whatever Niger Uranium is worth. Any ideas of the value of Niger Uranium?

[spectoacc] 15/6/2007 14:31

Any other bidder has to pay the break fee; not saying it won't happen, just that it's a deterrant to an already-agreed bid.

[liam1om] 15/6/2007 14:29

But this is just the first bid, there are other parties involved who will have to bid higher than this. I'm thinking this could go up to around 425-450 on speculation of another bidder.

[seagreen] 15/6/2007 14:28

Game over the end if you can get more than £3.92 for it in the market ~I would say ta v much

[spectoacc] 15/6/2007 14:26

Aye I make it £3.92, with a $75m break fee.

[pec2004] 15/6/2007 14:24

Same here wassapper, was only ever a short term punt.

[wassapper] 15/6/2007 14:23

I've just sold 50% of mine just in case

[utwiq] 15/6/2007 14:21

and the fact that the share price is currently above the bid (£3.93 equivalent) may suggest others think this likely too; or that no one has read the release yet!

[utwiq] 15/6/2007 14:21

I am surprised the premium is so low. I'd thought a 30% premium more likely. Of course anything (within reason) is possible if the Chinese enter the fray.

[wassapper] 15/6/2007 14:20

15 June 2007



AREVA Announces US$ 7.75 Per Share Friendly Cash Offer for UraMin



• 100% cash offer

• Attractive premium of 21% over UraMin 20-day average share price(1) as of
June 8, 2007

• AREVA and UraMin entered into a support agreement in respect of AREVA's
offer to acquire all the outstanding UraMin shares by way of a take-over bid

• Full support of UraMin Board of Directors

• Lock-up agreements in respect of approximately 25% of shares

• An acquisition which perfectly fits into AREVA's strategy to significantly
increase its uranium production in the medium term


Paris, June 15, 2007 - AREVA and UraMin Inc. ('UraMin') today entered into an
agreement in respect of AREVA's friendly cash offer for 100% of the share
capital of UraMin (the 'Offer'). UraMin is listed in London (AIM) and Toronto
(TSX). AREVA (Euronext Paris) already owns 5.5% of UraMin's share capital.

This cash offer of AREVA will be made through its indirect wholly-owned
subsidiary CFMM Developpement ('AREVA') based on a price of US$ 7.75 per UraMin
share. The total offer consideration amounts to more than USD 2.5 billion for
100% of the fully diluted share capital of UraMin(3). This represents a premium
of 21% over UraMin 20-day weighted average trading price1 ending on June 8, 2007
(2).

The UraMin Board of Directors, after consulting with its financial advisors, has
determined that the offer is fair and in the best interest of the UraMin
shareholders and it has resolved to recommend acceptance of the Offer. BMO
Capital Markets has provided an opinion that the offer is fair, from a financial
point of view, to the UraMin shareholders.

In connection with the offer, all directors and certain other shareholders
representing approximately 25% of the outstanding UraMin shares (calculated on a
fully diluted basis) have entered into lock-up agreements with AREVA pursuant to
which they have agreed to tender all their UraMin shares to AREVA's offer.

The support agreement entered into between AREVA and UraMin provides for, among
other things, in case a superior proposal is accepted by UraMin, a right to
match in favour of AREVA.

The support agreement also includes a break up fee in favour of AREVA of US$ 75
million under certain circumstances.

The offer and take-over circular will be mailed to UraMin shareholders in the
coming days. The offer period will be open for not less than 35 days. The offer
is conditional upon, in particular, the tendering of a minimum of 75% of the
outstanding UraMin's shares on a fully diluted basis, including the 5.5% shares
held by AREVA.

Concurrently with the closing of the proposed offer, UraMin will declare a
dividend payable in shares of the capital of Niger Uranium Limited held by
UraMin (where permitted by law) or a cash equivalent of the value of such
shares. Further details will be provided at the time of the mailing of UraMin
Directors' Circular.



=====



(1) Calculated based on UraMin's 20-day volume weighted average trading price on
the Alternative Investment Market of the London Stock Exchange ending on June 8,
2007

(2) Last trading day prior to the date on which UraMin announced it had entered
into negotiations regarding a potential sale of the company

(3) The existing number of UraMin shares is currently about 277M. Given the
number of options and warrants that have been emitted, UraMin share capital is
made of 323M of shares on a fully diluted basis




'UraMin has benefited from its founders' dynamism and know-how to identify
significant mining resources on the African continent. The commissioning of
these assets would enable AREVA to develop and further diversify its sourcing,
thereby securing its clients' long term uranium needs.



UraMin's acquisition perfectly fits into AREVA's strategy in the mining sector.
It will allow combining the mining resources of both companies, as well as their
respective human expertise. For AREVA, it will result into a significant
increase of its uranium production in the medium term.



Through the main projects, located in South Africa, Namibia, and Central African
Republic, AREVA plans to reach a yearly production of about 18m Lbs of U3O8 by
2012. AREVA has the technical and commercial capabilities to rapidly commission
UraMin projects and market its production. explains Olivier Mallet, AREVA Senior
Executive Vice President of the Mining, Chemistry and Enrichment sector of
AREVA.



Mr. Stephen R. Dattels, UraMin's founder and Executive Deputy Chairman said
today that 'UraMin's potential production capability gives AREVA the opportunity
to strengthen its position as one of the largest uranium producers in the world.
Combined with the integrated business model of AREVA all along the nuclear value
chain, access to long-term sources of uranium will reinforce AREVA's ability to
provide security of supply to its costumers. For UraMin's shareholders, the
proposed offer by AREVA provides a unique opportunity to realize an attractive
premium today and to participate in an exciting new uranium vehicle with drill
ready properties in Niger.'



Mr. Dattels went on to say, 'I would like to thank the directors, management and
employees of UraMin for their tremendous contribution since the inception of
UraMin in 2005. Their hard work and vision enabled us to create over US$2.5
billion of market value in just over two years time, making UraMin a major
success story in the mining sector.'



BMO Capital Markets is acting as financial advisors to UraMin and Heenan Blaikie
LLP is acting as legal counsel to UraMin.



NM Rothschild & Sons Canada Limited is acting as financial advisor to AREVA and
Blake Cassels & Graydon LLP is acting as legal counsel to AREVA.





FOR FURTHER INFORMATION ON THE OFFER:



A conference call will take place today, June 15, at 4:00pm CET.

To reach the conference, please call:



- From France: [phone]

- From North America: [phone]

- From UK: [phone]



To access to the slide-show, click on the following link:
www.finance.areva.com/20070615/uramin/

[swalker] 15/6/2007 14:19

AREVA Announces US$ 7.75 Per Share Friendly Cash Offer for UraMin



100% cash offer

Attractive premium of 21% over UraMin 20-day average share price(1) as of
June 8, 2007

AREVA and UraMin entered into a support agreement in respect of AREVA's
offer to acquire all the outstanding UraMin shares by way of a take-over bid

Full support of UraMin Board of Directors

Lock-up agreements in respect of approximately 25% of shares

An acquisition which perfectly fits into AREVA's strategy to significantly
increase its uranium production in the medium term

[mikkydhu] 15/6/2007 13:44

Halted in Canada.

[marnewton] 15/6/2007 12:37

Cheers SWalker;@)

M

[swalker] 15/6/2007 12:22

Dow Jones report hit the wires at 11:46 saying that there is a report that Areva will bid 425p next week.

Areva spokesman declined to comment.

Now, if they do bid, will the Chinese counter?

[marnewton] 15/6/2007 12:20

First buy at £4...10000 shares!

M

[liam1om] 15/6/2007 12:00

Interesting, I wonder if something has been leaked?

[fingolfin] 15/6/2007 10:31

Another uranium play (a speculative minnow) 'Murchison United' MUR took off yesterday in Oz with a huge increase in the volume traded. Although there was apparently no 'reason for the increase' drill results are imminent. It is also listed on the LSE as MUU and still has some catching up to do - Prices down under were $0.15 -0.155 (6.3-6.6p) whereas here they are 5.7p-6.1p.

[sagem] 15/6/2007 10:29

This is heading for a minimum of £5.00, Their must be at least three companies or more interested in URAMIN and its rich assets.. BIDDING WAR IS ABOUT TO TAKE PLACE. its about time we had some news from Uramin and just who is interested, we as shareholders have a right to know NOW....NOW...NOW.

[goldrush] 15/6/2007 10:24

simon

You could be right about Paladin ....there could be a number of interested bidders ....All IMHO.

[simonbroughton] 15/6/2007 10:00

papillon,

Thanks for your post 2288, I stand corrected regarding Areva! My gut feeling is, though, that this could take time to come to its conclusion. I was hoping Paladin would enter the fray.

[netsdeal] 15/6/2007 09:08

SJM: did Telegraph say this:

Meanwhile, speculation is rising that Areva, which is owned by the French state, will float on the stock market later this year. The move is being watched carefully by utility companies, which see the intended float as an opportunity to take a stake in Areva.?

many have already held shares in Areva for some time. advfn code EURO:PCEI, currently trading near all-time highs at 780.

major shareholders at the end of 2006:
Commissariat à l'Energie Atomique 78.96 %
French State 5.19 %
IC Holders 4.03 %
Caisse des Dépôts et Consignations 3.59 %
Entreprise de Recherches et d Activités Pétrolières 3.21 %
Electricité de France 2.42 %
Total 1.02 %
Calyon 0.81 %
Employees 0.77 %