EURO Ressources : IAMGOLD TENDER OFFER RESULTS AND CHANGE OF DIRECTORS
Market Wire, January, 2009
IAMGOLD TENDER OFFER RESULTS AND CHANGE OF DIRECTORS
PARIS, France, January 06, 2009: EURO Ressources S.A. (TSX: EUR; Euronext of the Bourse de Paris: EUR) reports that the Autorité des Marchés Financiers has announced the final results of the re-opened tender offer made by IAMGOLD Corporation which closed on December 17, 2008. IAMGOLD now controls directly and indirectly 52.8 million shares, representing 84.55% of the outstanding and fully diluted shares of EURO. IAMGOLD made payment on December 31, 2008, for the shares tendered in the re-opened offer and settlement with intermediaries is in process.
Separately, Mr. James H. Dunnett resigned from the Board of Directors of EURO as of December 31, 2008 and Mr. Larry Phillips, Senior Vice President, Corporate Affairs of IAMGOLD was appointed to fill the vacancy. Mr. Allan J. Marter, Président of EURO said, "We welcome Mr. Phillips as IAMGOLD's first representative on the EURO board. At the same time, we thank Mr. Dunnett most sincerely for his service as a director: he was responsible for restructuring EURO and building EURO to become the successful pure gold royalty company that it is today." For a limited period, Mr. Dunnett will remain Directeur-Général of EURO to assist in the transition of management to IAMGOLD.
Prior to year-end, EURO liquidated 50% of the remaining ounces of its gold hedge. As a result, EURO's remaining hedge is 2,850 ounces hedged for the third quarter and 5,700 ounces for the fourth quarter of 2009. This liquidation is consistent with EURO's stated policy of reducing its gold hedges from available liquidity. The hedged position represents approximately 20% of the forecast attributable Rosebel gold production payable under the Rosebel royalty for 2009.
About EURO
EURO is a French company whose principal asset is the Rosebel Royalty on gold production at the Rosebel mine operated by IAMGOLD. EURO has approximately 62.5 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. There can be no assurance that future developments affecting the Company will be those anticipated by management.
Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States or to a US person absent registration or an applicable exemption from registration.
Additional information relating to EURO Ressources S.A. is available under EURO's profile on SEDAR at www.sedar.com . Requests for further information should be addressed to:
This information is provided by HUGIN
James H. Dunnett Directeur-Général Tél.: 1 604 710 2242 Email : Email Contact Susanne A. Hermans Vice-President Finance Tél.: 1 303 204 7771 Email : Email Contact
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