| Mon 13 Dec 2010, 15:00 | | UUU - Uranium One Inc - Adjustment to Conversion Price of Uranium One |
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UUU - Uranium One Inc - Adjustment to Conversion Price of Uranium One
Convertible Debentures
Uranium One Inc
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
News Release
December 13, 2010
Adjustment to Conversion Price of Uranium One Convertible Debentures
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One Inc.
("Uranium One") today announced it has adjusted the conversion price of the
4.25% convertible unsecured subordinated debentures of the Company due December
31, 2011 (the "2006 Debentures") and the conversion price of the 7.5% (re-set to
5%) convertible unsecured subordinated debentures of the Company due March 13,
2015 (the "2010 Debentures"). The conversion prices for such debentures have
been adjusted effective as of the December 10 record date for the previously
announced special dividend of US$1.06 per common share of Uranium One which will
paid on December 20, 2010 to shareholders of record (other than JSC
Atomredmetzoloto and its affiliates). The exchange rate used for the
adjustments to the conversion prices was US$1.00 = C$1.01
The conversion price for the 2006 Debentures has been adjusted from C$20.00 per
Common Share to C$15.76 per Common Share in accordance with section 6.1.4 of the
trust indenture that governs the 2006 Debentures.
The conversion price for the 2010 Debentures has been adjusted from C$4.00 per
Common Share to C$3.15 per Common in accordance with section 6.1.6 of the trust
indenture that governs the 2010 Debentures.
About Uranium One
Uranium One is one of the world`s largest publicly traded uranium producers with
a globally diversified portfolio of assets located in Kazakhstan, the United
States, and Australia.
For further information, please contact:
Jean Nortier
Chief Executive Officer
Tel: +1 604 601 5642
Chris Sattler
Executive Vice President, Corporate Development and Investor Relations
Tel: + 1 416 350 3657
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Forward-looking statements: This press release contains certain forward-looking
statements. Forward-looking statements include but are not limited to those with
respect to the payment of dividends and the adjustment of the conversion price
of Uranium One`s convertible debentures In certain cases, forward-looking
statements can be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or
variations of such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of Uranium One to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
statements. Such risks and uncertainties include, among others, the completion
of the transactions in which Uranium One is engaged or expects to be engaged,
the future steady state production and cash costs of Uranium One, the actual
results of current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, possible
variations in grade and ore densities or recovery rates, failure of plant,
equipment or processes to operate as anticipated, accidents, labour disputes or
other risks of the mining industry, delays in obtaining government approvals or
financing or in completion of development or construction activities, risks
relating to the integration of acquisitions and the realization of synergies
relating thereto, to international operations, to prices of uranium as well as
those factors referred to in the section entitled "Risk Factors" in Uranium
One`s Annual Information Form for the year ended December 31, 2009 and
Management Information Circular dated August 3, 2010, each of which is available
on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this
document. Although Uranium One has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Uranium One expressly disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except in accordance with applicable
securities laws.
For further information about Uranium One, please visit www.uranium1.com.
Sponsor
Nedbank Capital
Date: 13/12/2010 15:00:02 Produced by the JSE SENS Department.
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