Hochschild Announces Expiry of Successful Bid for Andina Minerals
Published : January 11, 2013
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TORONTO, ONTARIO--(Marketwire - Jan. 11, 2013) - Hochschild Mining plc (News - Market indicators) ("Hochschild") is pleased to announce that its wholly owned subsidiary, 1710503 Alberta Ltd. (the "Offeror") has, since the initial extension of its November 16, 2012 offer (the "Offer") to acquire all of the outstanding common shares ("Shares") of Andina Minerals Inc. ("Andina") for CAD $0.80 per Share in cash on December 28, 2012, received to date tenders of an additional 5,308,672 Shares. The Offeror has taken up, and will within the time prescribed by applicable law, pay for all such additional Shares validly deposited pursuant to the Offer and not withdrawn prior to 5:00 p.m. (Toronto time) on January 11, 2013. Shareholders who deposited their Shares to the Offer will receive payment for such shares as soon as reasonably possible. After taking up the deposited Shares, Hochschild and its affiliates now own 117,432,924 Shares, representing 90.84% of the outstanding Shares on a fully-diluted basis.

As more than 90% of the Shares sought were deposited to the Offer, the Offeror intends to acquire all of the remaining Shares of Andina not deposited under the Offer pursuant to the compulsory acquisition provisions of the Business Corporations Act (Alberta), which transaction is expected to close in February 2013. As soon as possible, the Offeror further intends to cause the Shares to be de-listed from the TSX Venture Exchange and Andina to cease being a reporting issuer under applicable securities laws.

Hochschild's address is 46 Albemarle Street, London, United Kingdom, W1S 4JL. A copy of the early warning report to be filed by Hochschild and the Offeror will be available shortly under Andina's profile on SEDAR at www.sedar.com and can be obtained by contacting the Hochschild representative listed below.

About Hochschild Mining plc

Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (News - Market indicators) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has almost fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

Forward looking Statements

This announcement contains certain forward looking statements which may relate to matters such as the business, strategy, investments, production, major projects and their contribution to expected production and other plans of Hochschild Mining plc and its current goals, assumptions and expectations relating to its future financial condition, performance and results.

Forward-looking statements include, without limitation, statements typically containing words such as "intends", "expects", "anticipates", "targets", "plans", "estimates" and words of similar import. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining plc may be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors that could cause or contribute to differences between the actual results, performance or achievements of Hochschild Mining plc and current expectations include, but are not limited to, legislative, fiscal and regulatory developments, competitive conditions, technological developments, exchange rate fluctuations and general economic conditions. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser.

The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, Hochschild Mining plc does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.



Enquiries:
Hochschild Mining plc
Charles Gordon
Head of Investor Relations
+44 (0)20 7907 2934
or
RLM Finsbury
Charles Chichester
Public Relations
+44 (0)20 7251 3801
Data and Statistics for these countries : Argentina | Peru | United Kingdom | All
Gold and Silver Prices for these countries : Argentina | Peru | United Kingdom | All

Hochschild Mining

PRODUCER
CODE : HOC.L
ISIN : GB00B1FW5029
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Hochschild is a silver and gold producing company based in United kingdom.

Hochschild develops silver, gold, copper, lead and zinc in Mexico and in Peru, and holds various exploration projects in Chile.

Its main assets in production are MORIS MINE in Mexico, SELENE, PALLANCATA, ARCATA and ARES in Peru and SAN JOSE ARGENTINA in Argentina, its main assets in development are SAN FELIPE in Mexico and INMACULADA in Peru and its main exploration properties are LIAM and AZUCA in Peru, THUNDER CREEK in Canada, MORIS ARECHUYVO in Mexico, LOS AMIGOS (ARGENTINA) in Argentina and VALERIANO in Chile.

Hochschild is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 66.9 billions as of today (US$ 78.4 billions, € 69.4 billions).

Its stock quote reached its lowest recent point on October 24, 2008 at GBX 100.25, and its highest recent level on November 30, 2021 at GBX 131.80.

Hochschild has 507 232 000 shares outstanding.

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Corporate news of Hochschild Mining
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5/9/2016Holding in Company
4/15/2016Annual Financial Report
3/24/2016Holding(s) in Company
3/21/2016Director/PDMR Shareholding
11/27/2013Financial Performance Update
10/2/2013Equity Placing
1/11/2013Announces Expiry of Successful Bid for Andina Minerals
1/11/2013Announces Expiry of Successful Bid for Andina Minerals
2/28/2011Alerts
8/19/2009Interim Results
7/16/2009Q209 Production: In Line with Expectations
7/1/2009increases stake in Gold Resource Corporation
5/29/2009Maxy welcomes Hochschild Mining Plc As Shareholder
5/26/2009AGM Statement
5/22/2009Completion of acquisition of Southwestern Resources
2/18/2009Announcement Re: Minera Andes Inc.
2/13/2009extends the deadline of its offer to Minera Andes
4/16/2008 Q1 2008 Production Report
3/7/2008 Preliminary Results 12 March 2008 -- REMINDER
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