OREANDA-NEWS. At a special meeting of Uranium One Inc. shareholders held on March 7, 2013 in Toronto, Canada, the majority of the shareholders approved the plan of arrangement to acquire a 100% stake in the company by ARMZ Uranium Holding Co. (JSC Atomredmetzoloto, ARMZ). The holders of approximately 95.7% common shares, including ARMZ and optionholders supported the transaction. Regardless of ARMZ and affiliated entities shares, 86% of present and voting minority shareholders voted in favour of the plan of arrangement.

Under the terms of the agreement signed in January 2013, ARMZ is set to acquire all of the common shares of Uranium One Inc. for cash consideration of CDNUSD 2.86 per share. These are the securities that JSC Atomredmetzoloto and its affiliates do not already own. In total, minority shareholders will receive approximately CDNUSD 1.3 billion under the deal in exchange for their shares. As required by Canadian law, the agreement with ARMZ must be approved by two thirds of the votes cast by the holders of common shares, as well as by majority of the votes cast by minority shareholders.

“The fact that the agreement with ARMZ has been supported by Uranium One Inc. minority shareholders proves friendliness of the transaction,” noted Vadim Jivov, the Chairman of the Board of Directors of JSC Atomredmetzoloto, President of Uranium One Inc. “In its turn, the acquisition of the company, which has a uranium mineral resources base located in regions with minimum production costs, will enable ARMZ, the mining arm of State Corporation Rosatom, to achieve the goal of ensuring the procurement of resources for Russia’s nuclear industry as effectively as possible.”

The transaction on consolidation of a 100% stake in Uranium One Inc. is subject to approval by Supreme Court of Ontario, Canada, as well as by regulatory authorities of Russia, Kazakhstan, USA and Australia.