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Gold/Mining/Energy : Pacific Rim Mining PMU.T

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To: Phil Jones who wrote (268)	11/15/2004 7:22:29 PM
From: DeplorableIrredeemableRedneck	Read Replies (1) of 312

Early Warning Rules The Acts provide for an initial threshold, prior to a takeover bid, known as the “early warning”. The early warning rules were designed to raise red flags and prevent unsuspected takeover bids. Therefore, any person or company accumulating beneficial ownership or control in aggregate of 10% or more over voting or equity class of target securities must immediately issue a press release disclosing such accumulation. The release must be filed with the applicable provincial Administrator and a more detailed report must follow within two business days. This requirement also applies to securities that are convertible or exchangeable into the target securities, as well as the securities that carry the obligation or right to acquire the target securities. The acquisition of each additional 2% or more of the target securities raises the obligation to issue and file a further press release and a requisite report with the applicable Administrator. The press release must contain the following information: • the offeror’s name; • the total number of securities acquired and held; • ownership of the offeror and any person or company acting jointly with the offeror; • the names of those acting jointly or in concert with the offeror; • the market on which the securities were acquired; • any change in a material fact disclosed in a previous report; and • a statement of the purpose of the acquisition and any future intentions to increase ownership or control. Following the filing of a requisite report, no additional purchases may be made for one business day. This process may be repeated until the aggregate holdings reach the 20% threshold.

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