8th Apr 2008 11:00
Kazakhmys PLC08 April 2008 8 April 2008 KAZAKHMYS REQUESTS DEADLINE FOR EURASIAN NATURAL RESOURCES CORPORATION OFFER On 12 March 2008 Eurasian Natural Resources Corporation PLC ("ENRC") made anannouncement that one of the opportunities at the early stages of beingevaluated by ENRC was a possible combination of its business with that ofKazakhmys. On 13 March 2008 Kazakhmys announced that no proposal had beenreceived from ENRC and Kazakhmys confirms today that nothing has been receivedsince that date. Accordingly, Kazakhmys has applied to the UK Takeover Panel Executive (the"Takeover Panel Executive") for a ruling under Rule 2.4(b) of the City Code onTakeovers and Mergers (the "Takeover Code"). Such a ruling, if made, would set adeadline by which ENRC must, unless the Takeover Panel Executive consentsotherwise, either announce a firm intention to make an offer for Kazakhmys inaccordance with Rule 2.5 of the Takeover Code or announce that it does notintend to make an offer for Kazakhmys. If ENRC announces that it does not intendto make an offer for Kazakhmys, ENRC and any person acting in concert with itwill, except with the consent of the Takeover Panel Executive, be bound by therestrictions contained in Rule 2.8 of the Takeover Code for six months from thedate of such announcement. A further announcement will be made as and when appropriate. For further information please contact: Kazakhmys PLCJohn Smelt, Head of Corporate Communications Tel:+44 20 7901 7882 Tel: +44 787 964 2675Olga Nekrassova, Financial Analyst Tel: +44 20 7901 7814 MerlinDavid Simonson Tel:+44 20 7653 6620Tom Randell Tel:+44 20 7653 6620Leonid Fink Tel:+44 20 7653 6620 - ends - DEALING DISCLOSURE REQUIREMENTS Under the provisions of Rule 8.3 of the Takeover Code (the "Takeover Code"), ifany person is, or becomes, "interested" (directly or indirectly) in 1% or moreof any class of "relevant securities" of ENRC or of Kazakhmys, all "dealings" inany "relevant securities" of that company (including by means of an option inrespect of, or a derivative referenced to, any such "relevant securities") mustbe publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an "interest"in "relevant securities" of ENRC or of Kazakhmys, they will be deemed to be a single person for the purpose of Rule8.3. Under the provisions of Rule 8.1 of the Takeover Code, all "dealings" in"relevant securities" of ENRC or of Kazakhmys by ENRC or Kazakhmys, or by any oftheir respective "associates", must be disclosed by no later than 12.00 noon(London time) on the London business day following the date of the relevanttransaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or byvirtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Takeover Code, which can also befound on the Panel's website. If you are in any doubt as to whether or not youare required to disclose a "dealing" under Rule 8, you should consult the Panel. Notes to Editors Kazakhmys PLC is the largest copper producer in Kazakhstan and one of theleading copper producers in the world. Kazakhmys is a fully integrated copperproducer from mining ore through to the production of finished copper cathodeand rod. The Group produces significant volumes of other metals as by-products,including zinc, silver and gold. Existing operations include 20 open pit andunderground mines, 10 concentrators, two copper smelting and refining complexes,a copper rod plant, a zinc plant and a precious metals refinery. Production isbacked by a captive power supply and significant rail infrastructure. Kazakhmysalso owns MKM, a copper products fabrication company in Germany, and has Goldand Petroleum Divisions with assets in Kazakhstan and other parts of CentralAsia. The Group's strategic aim is to diversify and participate in thedevelopment of the significant natural resource opportunities in Central Asia. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
KAZ.LENRC.L