Winspear Diamonds Inc -
Winspear Diamonds receives share purchase offer
Winspear Diamonds Inc WSP
Shares issued 51,634,088 2000-07-10 close $4.55
Tuesday Jul 11 2000
TSE Bulletin 2000-0906
De Beers Canada Holdings Ltd., a wholly owned subsidiary of De Beers Centenary AG, has made an offer dated July 6, 2000, to purchase all of the outstanding common shares at $4.25 cash per common share. The offer will expire at 5 p.m. (Vancouver time) on July 28, 2000, unless withdrawn or extended.
The offeror reserves the right to withdraw the offer and not take up and pay for any shares deposited pursuant to the offer unless a number of conditions set out on pages 12 and 13 of the offering circular have been satisfied, including the condition that prior to the expiry of the offer not less than 50.1 per cent of the shares (calculated on a fully diluted basis) shall have been validly deposited under the offer and not withdrawn prior to its expiry.
Shareholders wishing to accept the offer must deposit their certificates representing common shares together with a duly completed and executed letter of acceptance and transmittal with the Trust Company of Bank of Montreal in Montreal, Toronto, Calgary or Vancouver so as to be received there prior to the expiry of the offer. Shareholders whose certificates will not be available to be deposited by the expiry time may nevertheless accept the offer by following the instructions for guaranteed delivery contained in the offering circular.
The offering circular discloses that RBC Dominion Securities Inc. and N.M. Rothschild & Sons Canada Securities Limited have been retained to act as the offeror's dealer manager for the offer, and to form and manage a soliciting dealer group comprising members of the Investment Dealers Association of Canada, and members of the Toronto and Montreal stock exchanges and the Canadian Venture Exchange.
The offeror will pay to any member of the soliciting dealer group whose name appears on the designated place on a letter of acceptance and transmittal accompanying a deposit of shares a fee of five cents for each share deposited and taken up by the offeror pursuant to the offer, subject to a minimum fee of $85 and a maximum fee of $1,500 with respect to each beneficial owner of shares. The minimum fee shall only be payable on tenders of 1,000 or more shares.
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