April5: Proposed Reconstruction by way of Schemes of Arrangement: http://stocknessmonster.com/news-item?S=MTO&E=ASX&N=286631
Extract: holders of Moto shares will receive one KPI share for every five Moto shares held; - holders of Moto listed options will receive one listed KPI option for every five Moto listed options held; and - the total number of shares on issue in the merged entity will be approximately 32,830,838, represented by 32,190,838 shares to be issued in exchange for the existing Moto shares on a one for five basis, and the 640,000 KPI shares that will be on issue immediately prior to completion.
Extract: The board of Moto believes that the proposal, which is subject to the approval of both Moto and KPI shareholders, will bring the following benefits to Moto: • greater access to the North American capital markets; and • increased exposure to investors with an awareness and understanding of mining opportunities in Africa. Moto’s directors unanimously support the restructuring proposal and recommend that you vote in favour of it (as they intend to do in respect of their own holdings of Moto securities) at meetings of shareholders and optionholders to be held on 6 May 2005.
If you are unable to attend those meetings, you are encouraged to vote by completing the relevant proxy forms enclosed with this booklet and returning them to Moto as soon as possible – and in any event not later than 11.00 am (Perth time) on 4 May 2005".
"IMPORTANT DATES Proxies to be received not later than 11.00 am (Perth, Western Australia time): 4 May 2005
Meetings of Scheme Participants to approve the Schemes 6 May 2005 If Scheme Participants approve the Schemes, the EXPECTED timetable is: Court hearing to approve the Schemes: 19 May 2005 Last day for exercising Moto Options (Cut-off Date): 23 May 2005 The Schemes become binding (Effective Date): 24 May 2005 Last day of ASX trading in Scheme Shares and Scheme Options: 24 May 2005 Trading in KPI Shares and KPI Options on the ASX commences: 25 May 2005 Trading in KPI Shares and KPI Options on the TSX commences: 25 May 2005 Record date for determining entitlements (Record Date): 31 May 2005 Scheme Shares transferred to KPI and Scheme Options cancelled (Implementation Date): 3 June 2005 Despatch of holding statements for KPI CDIs: 9 June 2005"
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Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
