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BRIEF-Turquoise Hill Resources Responds To Pentwater Capital

Published 2020-04-06, 05:52 p/m
© Reuters.
TRQ
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April 6 (Reuters) - Turquoise Hill Resources Ltd TRQ.TO :

* TURQUOISE HILL RESOURCES RESPONDS TO PENTWATER CAPITAL

* BOARD RECOMMENDED THAT SHAREHOLDERS VOTE AGAINST FIRST PROPOSAL FROM PENTWATER, WITHHOLD THEIR VOTE ON SECOND PROPOSAL

* BELIEVES IT HAS RIGHT TEAM IN PLACE TO LEAD COMPANY IN RELATION TO FINANCING, CONSTRUCTION, OPERATION OF OYU TOLGOI

* FORMED A COMMITTEE AND JOINT WORKING GROUP WITH RIO TINTO TO FACILITATE NEGOTIATIONS RELATED TO STRATEGIC MATTERS AMONGST STAKEHOLDERS

* RETAINED INDEPENDENT THIRD PARTY EXPERTS TO REVIEW COST AND SCHEDULE REPORTING

* ACKNOWLEDGES CONSTRUCTION AND DEVELOPMENT CHALLENGES AT OYU TOLGOI

* SEEKING TO IDENTIFY SHORT-TERM AND LONG-TERM FUNDING OPTIONS

* IS IN NEGOTIATIONS FOR NEAR-TERM

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