|As of market close on October 28, 2015 the New York Stock Exchange halted trading
of Coeur Mining warrants (CDE.WS) and have commenced delisting proceedings. NYSE
Regulation reached its decision to delist the warrants because the security has
fallen below the NYSE’s required aggregate market value. The warrants continue to
trade on the Toronto Stock Exchange as CDM.WT. For more information please click here
to view the press release published by the New York Stock Exchange.|
Coeur warrants are traded under the symbol CDM.WT on the TSX.
The Coeur warrants are exercisable (in whole or in part) on a cashless exercise basis only. In connection with any cashless exercise, a holder of a Coeur warrant will be entitled to receive, for no additional consideration, the number of shares of Coeur common stock calculated in accordance with the following formula:
X = Y(A - B)/A
X = the number of shares of Coeur common stock to be issued
to the holder of the warrants;
If a holder of Coeur warrants were to exercise 100 whole Coeur warrants when the stock is trading at a 5-day volume weighted average price of $40, the calculation would be:
100 warrants ($40-$30)/$40= 25 shares
Market price will be determined using the five-day trailing volume weighted average price on the NYSE, or if Coeur's common stock is not then listed on the NYSE, on the stock exchange on which Coeur's common stock is then listed.
Coeur will not issue fractional shares of its common stock upon an exercise of a Coeur warrant. Instead, the exercising holder will be entitled to a cash payment equal to the portion of the per share market price of Coeur common stock on the date of exercise of the Coeur warrant representing the fractional share that would have otherwise been issuable upon exercise of the Coeur warrants.
The exercise price and the number of shares of Coeur common stock issuable upon exercise of each Coeur warrant will be adjusted in connection with a number of events described in the warrant agreement to provide anti-dilution protection to the warrant holders (including, without limitation, (i) any dividend or distribution payable in shares of Coeur common stock, (ii) any subdivision, combination or reclassification of the Coeur common stock, (iii) any distribution to Coeur's stockholders of indebtedness, other securities of Coeur or any cash or property or other assets of Coeur (excluding any ordinary cash dividends) and (iv) any pro rata repurchases by Coeur of Coeur common stock pursuant to a tender or other offer available to substantially all of the holders of Coeur common stock). Additionally, if Coeur undergoes any business combination (by merger, consolidation, statutory share exchange or similar transaction that requires the approval of Coeur's stockholders) or reclassification of Coeur common stock, the Coeur warrants will be converted into the right to acquire the number of shares of stock or property (including cash) that they would have been entitled to receive had they exercised the Coeur warrants immediately prior to such business combination or reclassification.
Prior to the exercise of a Coeur warrant, the holder will not be entitled to vote or receive dividends, or consent or receive notice as a stockholder in respect of any meeting of stockholders for the election of directors of Coeur or any other matter, or have any rights as a stockholder of Coeur with respect to the shares of Coeur common stock underlying that warrant.