|By Marketwired .||
|June 27, 2014 06:46 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/14 -- A British Columbia Securities Commission panel has released the reasons for its decision on May 5, 2014 to make orders in connection with a take-over bid of the shareholder rights plan of Augusta Resource Corporation.
On February 9, 2014, HudBay Minerals Inc. announced its intention to make a bid to acquire all of the issued and outstanding Augusta shares not already owned by HudBay. Prior to this, HudBay had acquired 15% of Augusta's outstanding shares.
On April 18, 2013, the board of directors of Augusta adopted a shareholder rights plan that meant that any further acquisitions of Augusta shares by HudBay would trigger a "poison pill". The shareholder rights plan was ratified and approved by the Augusta shareholders at a special meeting on October 17, 2013.
On April 14, 2014, HudBay applied to the commission for an order cease-trading Augusta's shareholder rights plan. On May 2, 2014, Augusta held another shareholder meeting where the Augusta shareholders voted in favour of continuation of the plan.
On May 2, 2014, the panel made the following orders:
-- 'if HudBay extends its take-over bid for the shares of Augusta to expire no earlier than July 16, 2014, and -- if HudBay provides a ten-day extension of its take-over bid if it takes up any shares under the take-over bid, the commission will issue an order cease-trading Augusta's shareholder rights plan, and any securities issued in connection therewith, effective 5:00 pm, Vancouver time, on July 15, 2014, unless Augusta issues and files with the commission a news release by 5:00 pm, Vancouver time, on July 14, 2014, confirming that it has terminated its shareholder rights plan.'
In its reasons, the panel said, that while it would not be in the public interest to make an order cease-trading the (shareholder rights plan) as of May 2, 2014, it was also of the view it would be in the public interest to cease-trade the shareholder rights plan as of July 15, 2014, provided that, HudBay kept the bid open until July 16, 2014 and that it agreed to provide a ten-day extension of the bid if it took up any Augusta Shares.
You may view the decision on our website, www.bcsc.bc.ca, by typing HudBay Minerals Inc., Augusta Resource Corporation, or 2014 BCSECCOM 154 in the search box. Information regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:
-- A securities market that is fair and warrants public confidence -- A dynamic and competitive securities industry that provides investment opportunities and access to capital
Learn how to protect yourself and become a more informed investor at www.investright.org
Richard Gilhooley, Media Relations
604-899-6854 or 1-800-373-6393 (toll free)
This week, the team assembled in NYC for @Cloud Expo 2015 and @ThingsExpo 2015. For the past four years, this has been a must-attend event for MetraTech. We were happy to once again join industry visionaries, colleagues, customers and even competitors to share and explore the ways in which the Internet of Things (IoT) will impact our industry. Over the course of the show, we discussed the types of challenges we will collectively need to solve to capitalize on the opportunity IoT presents.
Oct. 13, 2015 02:30 PM EDT
DevOps Summit, taking place at the Santa Clara Convention Center in Santa Clara, CA, and Javits Center in New York City, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait...
Oct. 13, 2015 02:30 PM EDT Reads: 183
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 13, 2015 02:15 PM EDT Reads: 355
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Oct. 13, 2015 02:00 PM EDT Reads: 194
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 13, 2015 02:00 PM EDT Reads: 1,339
DevOps and Continuous Delivery software provider XebiaLabs has announced it has been selected to join the Amazon Web Services (AWS) DevOps Competency partner program. The program is designed to highlight software vendors like XebiaLabs who have demonstrated technical expertise and proven customer success in DevOps and specialized solution areas like Continuous Delivery. DevOps Competency Partners provide solutions to, or have deep experience working with AWS users and other businesses to help t...
Oct. 13, 2015 02:00 PM EDT Reads: 296
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Oct. 13, 2015 02:00 PM EDT Reads: 107
As operational failure becomes more acceptable to discuss within the software industry, the necessity for holding constructive, actionable postmortems increases. But most of what we know about postmortems from "pop culture" isn't actually relevant for the software systems we work on and within. In his session at DevOps Summit, J. Paul Reed will look at postmortem pitfalls, techniques, and tools you'll be able to take back to your own environment so they will be able to lay the foundations for h...
Oct. 13, 2015 01:45 PM EDT Reads: 219
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server, storage technology and green computing, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data ...
Oct. 13, 2015 01:45 PM EDT Reads: 221
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 13, 2015 01:00 PM EDT Reads: 342
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Oct. 13, 2015 01:00 PM EDT Reads: 258
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 13, 2015 01:00 PM EDT Reads: 338
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Oct. 13, 2015 01:00 PM EDT Reads: 211
Containers are all the rage among developers and web companies, but they also represent two very substantial benefits to larger organizations. First, they have the potential to dramatically accelerate the application lifecycle from software builds and testing to deployment and upgrades. Second they represent the first truly hybrid-approach to consuming infrastructure, allowing organizations to run the same workloads on any cloud, virtual machine or physical server. Together, they represent a ver...
Oct. 13, 2015 12:45 PM EDT Reads: 240
As a company adopts a DevOps approach to software development, what are key things that both the Dev and Ops side of the business must keep in mind to ensure effective continuous delivery? In his session at DevOps Summit, Mark Hydar, Head of DevOps, Ericsson TV Platforms, will share best practices and provide helpful tips for Ops teams to adopt an open line of communication with the development side of the house to ensure success between the two sides.
Oct. 13, 2015 12:00 PM EDT Reads: 693