Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Top Links You Must Click On


Andina Minerals Inc. Agrees to Friendly Business Combination With Hochschild Mining Plc

TORONTO, ONTARIO -- (Marketwire) -- 11/08/12 -- Andina Minerals Inc. (TSX VENTURE:ADM) ("Andina" or the "Company") is pleased to announce that it has entered into a binding agreement (the "Support Agreement") with Hochschild Mining PLC ("Hochschild") pursuant to which Hochschild has agreed, subject to the terms of the Support Agreement, to make an offer to purchase all of the outstanding common shares of Andina by way of a friendly take-over bid at a price of C$0.80 per share in cash (the "Offer").

The Offer represents a 106% premium to the 20-day volume weighted average price as at November 7, 2012 of Andina's common shares on the TSX-V and a 100% premium to the closing price of the Company's common shares on the TSX-V, immediately prior to the announcement of the Offer. The transaction values Andina's equity at approximately C$103 million on a fully diluted in-the-money basis.

George Bee, President and CEO of Andina commented on the Offer as follows: "We are pleased to be entering into this transaction with Hochschild. The Offer represents a significant premium to Andina shareholders, and the Board of Andina unanimously supports the Offer. Over the last year, along with the broader market for large-scale gold developers, Andina's share price has declined due to a number of factors. Most importantly, continued capital and operating cost inflation in the mining sector has weighed on the market, along with investor concerns with respect to share dilution arising from a potential decision to develop the Volcan project or raising additional funds to maintain the business. After reviewing the alternatives available to our company, we believe that the Offer is the best option for Andina shareholders."

Hochschild has also entered into a lockup agreement with all of Andina's Directors and Officers and with Mackenzie Financial Corp., who together hold in aggregate approximately 13.7% of the outstanding shares of Andina on a basic shares outstanding basis.

The Support Agreement contains customary deal support provisions including non-solicitation and right to match provisions in favour of Hochschild and the payment to Hochschild of a termination fee of C$4.1 million if the acquisition is not completed in certain specified circumstances. The obligation of Hochschild to take up and pay for Andina common shares pursuant to the Offer is subject to certain conditions, including a sufficient number of shares being tendered to the Offer such that Hochschild would own at least 66 2/3% of Andina's shares on a fully-diluted basis. Hochschild has also agreed to provide Andina with a secured loan of C$1.75 million for general purposes within 5 business days and which will be repaid by Andina if the acquisition is not completed. In addition, Hochschild has agreed to place C$3.75 million into an escrow account which will be released to Andina on the date that Hochschild takes up and pays for Andina shares under the Offer, or otherwise returned to Hochschild if the Support Agreement is terminated.

Hochschild has announced that it intends to commence its Offer and to mail its take-over bid circular as soon as practicable and in any event by November 22, 2012. The Offer will be open for acceptance for a period of not less than 36 days. Andina's Board of Directors has agreed that its Directors' Circular recommending the Offer will be mailed to shareholders at the same time as the mailing of the Hochschild take-over bid circular.

BMO Capital Markets is acting as financial advisor to Andina and Fraser Milner Casgrain LLP is acting as legal counsel to Andina. RBC Capital Markets is acting as financial advisor to Hochschild and Stikeman Elliot LLP is acting as legal counsel to Hochschild.

About Andina Minerals Inc.

Andina's primary focus is mining exploration and development in Chile. The Company's flagship development project is the 100%-owned Volcan Gold Project, strategically located in the prolific Maricunga Gold Belt.

In addition to Andina's extensive underexplored land position surrounding Volcan, the Company holds two other mineral properties located within Chile's primary mining regions.

About Hochschild Plc.

Hochschild is a precious metals company listed on the London Stock Exchange operating in the Americas with a primary focus on the exploration, mining, processing and sale of silver and gold. It is headquartered in Lima and is a constituent of the FTSE 250 Index.

Forward-Looking Information

Certain of the statements made and information contained herein may contain forward-looking statements or forward-looking information within the meaning of applicable securities laws, including the anticipated timing of the transaction. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties). Many of these assumptions are based on factors and events that are not within the control of Andina and there is no assurance they will prove to be correct. The timing and completion of the proposed transaction is subject to customary conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed transaction will occur, or that it will occur on the timetable or on the terms and conditions contemplated. The proposed transaction could be modified, restructured or terminated. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Andina undertakes no obligation to update forward-looking information except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties. The reader is cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Andina Minerals Inc.
George M. Bee
President & CEO
416 203 3488

Andina Minerals Inc.
Derrick Weyrauch
Chief Financial Officer
416 203 3488
www.andinaminerals.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Enterprise Open Source Magazine Latest Stories . . .
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefi...
The Eclipse IoT community is growing community of open source projects focused on providing the building blocks for the IoT industry. The goal of the community is to provide open source implementations of important IoT standards, frameworks that implement key services for IoT applicati...
In his session at 15th Cloud Expo, Mark Hinkle, Senior Director, Open Source Solutions at Citrix Systems Inc., will provide overview of the open source software that can be used to deploy and manage a cloud computing environment. He will include information on storage, networking(e.g.,...
StackIQ offers a comprehensive software suite that automates the deployment, provisioning, and management of Big Infrastructure. With StackIQ’s software, you can spin up fully configured big data clusters, quickly and consistently — from bare-metal up to the applications layer — and ma...
In a very real way, everything they do at iXsystems helps the cause of open source. From the engineers who write code they contribute back to FreeBSD, to the testers who give feedback on open source drivers back to vendors, to the marketers who travel around the world to promote FreeBS...
More and more Web sites and applications are being moved from Apache to nginx. While Apache is still the number one HTTP server with more than 60% on active Web sites, nginx has now taken over the 2nd place in the ranking and relegated Microsoft’s IIS to 3rd place. Among the top 10.000...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE