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Stornoway Diamond Corporation (TSX:SWY) has entered into a voting support agreement with Agnico Eagle Mines Limited under the terms of which Agnico Eagle will vote all of the common shares of Stornoway it owns in favour of the financing transactions announced by Stornoway on April 9, 2014. Agnico Eagle currently owns 14,752,244 common shares of Stornoway, representing approximately 9.7 percent of the outstanding common shares as well as approximately 8.4 percent of outstanding common shares and non-voting convertible shares of Stornoway.
Stornoway Diamond Corporation (TSX:SWY) has entered into a voting support agreement with Agnico Eagle Mines Limited under the terms of which Agnico Eagle will vote all of the common shares of Stornoway it owns in favour of the financing transactions announced by Stornoway on April 9, 2014. Agnico Eagle currently owns 14,752,244 common shares of Stornoway, representing approximately 9.7 percent of the outstanding common shares as well as approximately 8.4 percent of outstanding common shares and non-voting convertible shares of Stornoway.
As quoted in the press release:
Stornoway intends to convene a special meeting of shareholders to be held around the end of May 2014 to submit to shareholders for consideration and approval various elements of the proposed financing transactions in accordance with applicable regulatory and TSX requirements. Stornoway expects to mail a management information circular describing the various financing elements contemplated by the financing agreement entered into with Orion Co-Investments I Limited, Ressources Québec, a wholly-owned subsidiary of Investissement Québec, and the Caisse de dépôt et placement du Québec (“CDPQ”) in early May 2014. Under the terms of the financing agreement, CDPQ has also agreed to vote the common shares it beneficially owns or controls in Stornoway in favour of the financing transactions. As at December 31, 2013 CDPQ beneficially owned 11,410,375 common shares of Stornoway, representing approximately 7.5% of the outstanding common shares and approximately 6.5% of the outstanding common shares and non-voting convertible shares of Stornoway.
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