Shareholders Approve Scheme of Arrangement
Vancouver, April 22, 2015 AEST (ABN Newswire) - Coalspur Mines Limited ("Coalspur" or "Company") (
ASX:CPL) (TSE:CPT) is pleased to advised that Coalspur shareholders have approved the scheme of arrangement by which KC Euroholdings S.a.r.l. ("KCE") will acquire all of the ordinary shares in Coalspur ("Scheme").
Results of Scheme Meeting
The Scheme Meeting was held today at 10h00 (WST) in Perth, Western Australia and attended by the holders of ordinary shares in Coalspur. The resolution was voted on in accordance with the notice of meeting previously provided to the Australian Securities Exchange ("ASX") and included as Annexure 5 to the Scheme Booklet. The resolution to approve the Scheme was passed by the requisite majorities, following a poll taken at the meeting which was conducted by Computershare Investor Services Pty Limited.
Notice of Second Court Hearing
The Second Court Hearing will be held at 09h15 (WST) on Tuesday, 28 April 2015 at the Federal Court of Australia at Peter Durack Commonwealth Court Building, 1 Victoria Avenue, Perth, Western Australia. Please see the attached notice for further details regarding the Second Court Hearing.
Conditions Precedent to Scheme
The main outstanding conditions precedent which remain to be satisfied or waived before the Second Court Hearing include KCE completing the purchase of debts owed to EIG and Borrowdale by the Coalspur group and KCE amending Coalspur's current contracts with Ridley Terminals Inc and Canadian National Railways, to the satisfaction of KCE.
To view the voting results and timetable, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CPL-716493.pdf
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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