Stillwater executive anticipates positive vote on Norilsk deal 16th June 2003

Stillwater Mining executives say they remain confident that investors will approve the proposed buyout of the company by Norilsk Nickel.

John Stark, Stillwater's corporate attorney and secretary, said that the votes were going well in advance of this morning's special shareholders meeting at the Hyatt Regency Tech Center in Denver.

'We're very confident of the vote,' he told The Gazette. 'We have reached a quorum, or 50 per cent of the registered shares. That allows the company to have the meeting according to our bylaws.'

Company executives and four board of directors have gathered for the meeting today, with even those opposed to the plan appearing to believe the verdict will see the deal carried out.

One worker who does not want the company to be sold, Tim Walrath, who has worked at Stillwater's Nye site for five years, said he also expected the deal to go through.

'The buzz coming down from management is that the votes have already been counted and that the majority has already approved it,' he said.

Mr Stark said he and chief executive Frank McAllister were currently deciding whether to announce the results of the vote at this morning's meeting.

No Norilsk Nickel representatives will attend the meeting, with Mr Stark saying they were engaged in preparing for their upcoming annual general meeting.


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