Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten
The company whose shareholders were better than its management
Message: Another Approach
I've taken a little different approach in my e-mails to the Safeharbour list....for what's its worth....it makes me feel better...
The deal of the century has just been done. But lets look closer at this deal.
Kinross makes their offer @ $ 8.20 value ( value per Kinross)...but at the same time they buy 15 Million shares of Aurelian Stock at $ 4.75 CN in a Private Placement that is only for Kinross and offered to no one else??
Is this stupid or does it smell like a collusive transaction to give Kinross 15 Million more votes towards the completion of the buy-out??
Kinross's offer is for 66 2/3% of the shares but if you look closely they can, at their sole discretion, reduce the percentage to 50.1%......why ?? well lets look at the stock outstanding in Aurelian. There were about 135,000,000 issues and about 15,000,000 more in options etc. so that was 150,000,000 prior to the "gift" to Kinross of 15,000,000 shares making the new Fully Diluted shares 165,000,000.
Management of ARU controls about 15,000,000 and Kinross "gift" is 15,000,000 so we are at 30,000,000 before we even look at the "Investment Advisors" who gave their blessing on the deal. I think you get the idea of this and the smell gets stronger!!
The six months prior to the Offer from Kinross the Officers and Directors of ARU did the following transactions in ARU...PLEASE NOTE THAT THEY ARE ALL SALES...NO PURCHASES AT ALL...
TRADING IN SECURITIES OF AURELIAN
During the six-month period preceding the date of this Directors’ Circular, none of Aurelian, the directors
and senior officers of Aurelian nor, to the knowledge of the directors and senior officers of Aurelian after
reasonable enquiry, any of their respective associates, any person or company holding more than 10% of the
issued and outstanding Common Shares or any person acting jointly or in concert with Aurelian, has traded any
Aurelian securities or rights to acquire securities of Aurelian except for those described in ‘‘Issuances of
Securities of Aurelian’’ and as set out below.
Sale Price Per
Number of Common Common
Name Shares Sold Share ($) Date of Sale
Patrick Anderson . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000 7.7500 January 31, 2008
200,000 4.1021 May 27, 2008
William Fisher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000 7.8400 January 7, 2008
10,000 8.0000 January 9, 2008
10,000 8.0000 January 10, 2008
10,000 9.0900 January 14, 2008
Andr´e Gaumond . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000 9.1575 March 24, 2008
12,000 9.0800 March 25, 2008
4,000 9.2500 March 25, 2008
Joseph Hamilton . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000 7.9558 February 6, 2008
100,000 9.0000 February 28, 2008
100,000 9.0178 February 29, 2008
Thomas Obradovich . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 8.0600 February 14, 2008
2,500 9.3700 March 18, 2008
6,000 9.2500 March 18, 2008
5,000 9.2200 March 18, 2008
6,200 9.2000 March 18, 2008
2,300 9.2100 March 18, 2008
4,100 9.2200 March 18, 2008
1,300 9.2300 March 18, 2008
100 9.3200 March 18, 2008
6,000 9.3000 March 18, 2008
1,500 9.3100 March 18, 2008
30,000 9.0000 March 20, 2008
5,000 9.0100 March 20, 2008
5,000 9.0200 March 20, 2008
15,000 9.0600 March 20, 2008
10,000 9.0700 March 20, 2008
18
During the six-month period preceding the date of this Directors’ Circular, none of Aurelian, the directors
and senior officers of Aurelian nor, to the knowledge of the directors and senior officers of Aurelian after
reasonable enquiry, any of their respective associates, any person or company holding more than 10% of the
issued and outstanding Common Shares or any person acting jointly or in concert with Aurelian, has traded any
Aurelian securities or rights to acquire securities of Aurelian except for those described in ‘‘Issuances of
Securities of Aurelian’’ and as set out below.
Sale Price Per
Number of Common Common
Name Shares Sold Share ($) Date of Sale
Patrick Anderson . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000 7.7500 January 31, 2008
200,000 4.1021 May 27, 2008
William Fisher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000 7.8400 January 7, 2008
10,000 8.0000 January 9, 2008
10,000 8.0000 January 10, 2008
10,000 9.0900 January 14, 2008
Andr´e Gaumond . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000 9.1575 March 24, 2008
12,000 9.0800 March 25, 2008
4,000 9.2500 March 25, 2008
Joseph Hamilton . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000 7.9558 February 6, 2008
100,000 9.0000 February 28, 2008
100,000 9.0178 February 29, 2008
Thomas Obradovich . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000 8.0600 February 14, 2008
2,500 9.3700 March 18, 2008
6,000 9.2500 March 18, 2008
5,000 9.2200 March 18, 2008
6,200 9.2000 March 18, 2008
2,300 9.2100 March 18, 2008
4,100 9.2200 March 18, 2008
1,300 9.2300 March 18, 2008
100 9.3200 March 18, 2008
6,000 9.3000 March 18, 2008
1,500 9.3100 March 18, 2008
30,000 9.0000 March 20, 2008
5,000 9.0100 March 20, 2008
5,000 9.0200 March 20, 2008
15,000 9.0600 March 20, 2008
10,000 9.0700 March 20, 2008
18
The above information was provided in the Directors Circular from ARU.
I can go on about drilling information that has been with held since the last 43-101 but I am saving that for later.
Fell free to contact me if you would like more information concerning this "Not so Fair Deal"
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