This is the first time that I have been a shareholder of a company that is the target of a take-over bid so I am hoping that anybody that has knowledge with respect to these matters can help me out with answers to a few questions or point me to a source of information that explains how things progress from start to finish.

Thanks in advance.

As per the Canadian Business Corporations Act ...

"If within one hundred and twenty days after the date of a take-over bid the bid is accepted by the holders of not less than ninety per cent of the shares of any class of shares to which the take-over bid relates, other than shares held at the date of the take-over bid by or on behalf of the offeror or an affiliate or associate of the offeror, the offeror is entitled, on complying with this section, to acquire the shares held by the dissenting offerees."

Can anyone advise with respect to what happens if the % of shares tendered is less than 90% and more than 66 2/3%? How does Kinross go about acquiring the remaining shares and what are the implications for shareholders that have not tendered their shares?

If Kinross opts to reduce the Minimum Tender Condition of 66 2/3 % to 50.1% does this have any impact on the answer to the question above?