Last checked at 20 Feb 2013 16:14
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20 February 2013
Hochschild Announces Completion of Compulsory Acquisition of Andina Minerals Common Shares
Hochschild Mining plc ("Hochschild") is pleased to announce that its wholly owned subsidiary, 1710503 Alberta Ltd. (the "Offeror") has completed its previously announced compulsory acquisition under the Business Corporations Act (Alberta) of all of the outstanding Andina common shares ("Andina Shares") not already owned by it following its previously announced successful take-over bid. As a result of the acquisition, Hochschild now indirectly owns 100% of the issued and outstanding Andina Shares.
At Andina's request, trading of the Andina Shares has been halted on the TSX Venture Exchange (the "Exchange") and Andina expects that it will be delisted from the Exchange on or about 22 February 2013 subject to the approval of the Exchange. In addition, Andina intends to apply to the relevant securities commissions to cease to be a reporting issuer in all applicable jurisdictions in Canada.
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Enquiries:
Hochschild Mining plc
Charles Gordon +44 (0)20 7907 2934
Head of Investor Relations
RLM Finsbury
Charles Chichester +44 (0)20 7251 3801
Public Relations
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About Hochschild Mining plc
Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has almost fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.
Forward looking Statements
This announcement contains certain forward looking statements which may relate to matters such as the business, strategy, investments, production, major projects and their contribution to expected production and other plans of Hochschild Mining plc and its current goals, assumptions and expectations relating to its future financial condition, performance and results.
Forward-looking statements include, without limitation, statements typically containing words such as "intends", "expects", "anticipates", "targets", "plans", "estimates" and words of similar import. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining plc may be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors that could cause or contribute to differences between the actual results, performance or achievements of Hochschild Mining plc and current expectations include, but are not limited to, legislative, fiscal and regulatory developments, competitive conditions, technological developments, exchange rate fluctuations and general economic conditions. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.
The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, Hochschild Mining plc does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.