UPDATE: Ivanhoe Mines Evaluating Implications of Arbitration Decision on Company's Shareholders' Rights Plan
Ivanhoe Mines (NYSE: IVN)announced today that the company and its legal counsel are continuing to evaluate the implications of an arbitrator's decision on the company's Shareholders' Rights Plan that was issued Monday, December 12, and addressed in Ivanhoe's December 12 news release.
One result of the decision is that Ivanhoe's Shareholders' Rights Plan remains in effect and applicable to all shareholders, including Rio Tinto (NYSE: RIO). Anti-dilution rights granted to Rio Tinto by Ivanhoe Mines in the 2006 Private Placement Agreement also remain in effect.
Rio Tinto's maximum permitted interest in Ivanhoe Mines remains capped at its current level of 49% until January 18, 2012. The Shareholders' Rights Plan does not expire until April 2013.
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