TORONTO, ON / MARSEILLE, France, April 16, 2012 /PRNewswire/ - Foraco International SA (the "Company" or "Foraco"), a leading global provider of mineral drilling services, held today its general shareholders' meeting at 10 am in Marseille (France).
The Shareholders' meeting of Foraco International SA, voted at the required majority a dividend of 0.053 euros per common share to the holders of common shares at the record date of April 19, 2012. The dividend will be paid on May 15, 2012.
The Shareholders' meeting also approved the acquisition of 51% of the share capital of the Brazilian company WFS Sondagem Ltda ("Servitec") and the share capital increase of the Company by issuance of 3,516,509 new shares reserved to the Shareholders of Servitec.
About Foraco International SA
Foraco International SA (TSX: FAR) is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third largest global drilling enterprise with a presence in 23 countries across five continents. For more information about Foraco, visit www.foraco.com.
Caution concerning forward-looking statements
This press release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. These statements and information include estimates, forecasts, information and statements as to management's expectations with respect to, among other things, the future financial or operating performance of the Company and capital and operating expenditures. Often, but not always, forward-looking statements and information can be identified by the use of words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", and "scheduled" or the negative thereof or variations thereon or similar terminology. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" in the Company's Annual Information Form dated March 31, 2010, which is filed with Canadian regulators on SEDAR (www.sedar.com). The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
SOURCE Foraco International S.A