| Tue 5 Jun 2012, 9:00 | | UUU - Uranium One Inc - Uranium One announces signing of coordination agreement |
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UUU
UUU
UUU - Uranium One Inc - Uranium One announces signing of coordination agreement
with ARMZ and Extension of Framework agreement Governance Provisions
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
June 4, 2012
Uranium One Announces Signing of Coordination Agreement with ARMZ and Extension
of Framework Agreement Governance Provisions
Toronto, Ontario - Uranium One Inc. ("Uranium One") today announced that it has
entered into a coordination and integration agreement with JSC Atomredmetzoloto
("ARMZ"), the holder of approximately 51% of Uranium One`s outstanding common
shares.
The coordination agreement sets out a framework for enhanced coordination and
integration between the parties in six designated areas - Uranium One`s growth
and development strategy, financial reporting and budgeting, marketing and
sales, geology and exploration, governmental relations and communication, and
human resources. The agreement is intended to ensure that the relationship of
the parties is conducted in a manner consistent with maintaining Uranium One`s
status as an independent public issuer, with a continued commitment to
governance best practices and the protection of minority shareholder interests.
The coordination agreement also extends the governance provisions of the amended
and restated framework agreement between the parties dated June 8, 2010. As a
result, the "coat-tail" provisions, the covenant of ARMZ to vote in favour of
Uranium One`s independent director nominees and ARMZ`s obligations not to
acquire additional Uranium One shares without Uranium One`s consent, which would
have otherwise expired this month, now remain in effect until December 4, 2013
subject to ARMZ`s right to terminate the "coat-tail" and the voting covenant on
90 days` prior notice. The coordination agreement will continue in effect unless
terminated by either party effective December 4, 2013 or on any subsequent
anniversary of that date.
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, Australia and Tanzania.
For further information, please contact:
Chris Sattler
Chief Executive Officer
Tel: +1 647 788 8500
Anton Jivov
Director Corporate Development & Investor Relations
Tel: +1 647 788 8461
Sponsor
Nedbank Capital
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. For further
information about Uranium One, please visit www.uranium1.com.
Date: 05/06/2012 09:00:01 Produced by the JSE SENS Department.
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