{"id":1196003,"date":"2020-07-15T12:54:38","date_gmt":"2020-07-15T17:54:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=1029832"},"modified":"2020-07-15T12:54:38","modified_gmt":"2020-07-15T17:54:38","slug":"zijins-guyana-goldfields-takeover-backed-by-proxy-firms","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1196003","title":{"rendered":"Zijin\u2019s Guyana Goldfields takeover backed by proxy firms"},"content":{"rendered":"

Guyana Goldfields (TSX: GUY) announced on Wednesday<\/a> that independent advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co. have provided reports backing the company’s proposed takeover<\/a> by China’s Zijin Mining Group, which outbid the previous interested buyer<\/a> Silvercorp Metals (TSX, NYSE: SVM) with an offer that would value Guyana Goldfields at C$323 million ($238m).<\/p>\n

The reports issued by ISS and Glass Lewis also include positive recommendations on the election of director nominees, Guyana Goldfields’ approach to executive compensation and the reduction of stated capital.<\/p>\n

While endorsing the transaction, ISS noted that “shareholders will cash out of their investment at a significant premium \u2026 with certainty of value and immediate liquidity.” <\/p>\n

Glass Lewis also provided a positive recommendation, stating that “the proposed transaction appears to be the result of a robust and competitive process” and sees “no reason to doubt that it likely represents the most favourable offer available at the present time.”<\/p>\n

The proxy firms recommend Guyana Goldfields shareholders to vote for the transaction before Thursday’s deadline.<\/p>\n

Shares of Guyana Goldfields rose 1.1% on the TSX as of 1:30 p.m. EDT Wednesday. The company’s market capitalization stands at approximately C$312.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Guyana Goldfields sharesholders have until tomorrow to vote for the takeover.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196003"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1196003"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196003\/revisions"}],"predecessor-version":[{"id":1196028,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1196003\/revisions\/1196028"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1196003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1196003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1196003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}