Agincourt Resources

A$418m Recommended Takeover Offer by Oxiana

April 2007

Agincourt Resources, a long standing client of Azure Capital, received an approach from Oxiana for a friendly takeover in early 2007. Azure advised Agincourt on all aspects of the transaction, and was principally responsible for the negotiation of the offer price which was a 39% premium to the pre offer VWAP. Circumstances necessitated completion of negotiation and pre offer due diligence in a very short timeframe which was achieved under the management of Azure. The offer was supported by Newmont Mining Corporation, Agincourt’s major shareholder.