10th Jan 2007 16:34
Vedanta Resources PLC10 January 2007 Vedanta Resources plc10 January 2007 VEDANTA RESOURCES PLC ANNOUNCES VARIATION AND EXTENSION OF OFFER Vedanta Resources plc ("Vedanta") announced today that it has varied itspreviously announced offer (the "Offer"), made through its wholly-ownedsubsidiary Twin Star International Limited ("TSI"), for all of the outstandingcommon shares of Sterlite Gold Ltd. (TSX: SGD) ("Sterlite Gold") not alreadyowned by TSI and its affiliates, excluding those common shares held by UnitedStates shareholders, on the basis of C$0.258 in cash per common share. The timeduring which the Offer may be accepted has been extended and the Offer, asvaried, will now expire at 5:00 p.m. (Toronto time) on April 9, 2007, unlessaccelerated or further extended. The Offer has been varied to provide Vedantawith greater flexibility and to allow time for, among other things, remainingSterlite Gold shareholders to tender their common shares to the Offer, thecompletion of the review by the U.S. Securities and Exchange Commission (the"SEC") of the materials filed with the SEC by Vedanta in connection with theproposal to extend the Offer to Shareholders in the Unites States and thesatisfaction of certain applicable United States regulatory requirements inorder to permit Vedanta to extend the Offer to Sterlite Gold shareholders in theUnited States. A notice of extension will promptly be mailed to those SterliteGold shareholders to whom the Offer to Purchase and Circular was originallysent. Subject to applicable securities laws, any common shares validly depositedto the Offer must be taken up and paid for within ten days of the deposit ofsuch common shares. Sterlite Gold shareholders are encouraged to tender theirremaining common shares to the Offer as soon as possible to receive promptpayment. As of January 9, 2007, a total of 76,096,734 common shares of Sterlite Gold hadbeen taken up under the Offer, representing, together with common shares alreadyowned by TSI at the commencement of the Offer, approximately 83.7% of theoutstanding common shares of Sterlite Gold (on a fully-diluted basis). Sterlite Gold shareholders are advised to read the Notice of Extension, theOffer to Purchase and Circular, the Directors' Circular and related documents,filed with the Canadian securities regulatory authorities, as they containimportant information. Shareholders may obtain a copy of the materials at SEDARfrom www.sedar.com. Further information regarding Vedanta Resources plc or Twin Star InternationalLimited can be obtained by contacting: Sumanth Cidambi [email protected] Director - Investor Relations Tel: +44 20 7659 4732 / +91 22 6646 1531Vedanta Resources plc Faeth Birch Robin WalkerFinsbury Tel: +44 20 7251 3801 About Vedanta Resources plc Vedanta Resources plc is a FTSE 100 diversified metals and mining group. Itsprincipal operations are located throughout India, with further operations inZambia and Australia. The major metals produced are aluminium, copper, zinc andlead. For further information, please visit www.vedantaresources.com. Disclaimer The Offer is not being, and will not be, made in any jurisdiction where notpermitted by law. This communication shall not constitute an offer to sell orthe solicitation of an offer to buy, nor shall there be, any sale of securitiesin any jurisdiction in which the Offer, solicitation or sale would be unlawfulprior to registration or qualification under the securities laws of any suchjurisdiction. This press release contains "forward-looking statements" - that is, statementsrelated to future, not past, events. In this context, forward-looking statementsoften address our expected future business and financial performance, and oftencontain words such as "expects," "anticipates," "intends," "plans," "believes,""seeks," "should" or "will." This information is based upon certain materialfactors and assumptions that were applied in drawing a conclusion or making aforecast or projection as reflected in the forward-looking statements, includingthat the Offer will be made to United States shareholders. Since forward-lookingstatements are based on assumptions and address future events and conditions, bytheir very nature they involve inherent risks and uncertainties. Actual resultsrelating to, among other things, our financial condition and prospects, coulddiffer materially from those currently anticipated in such statements by reasonof factors such as the behaviour of financial and metals markets including theLondon Metal Exchange, fluctuations in interest and or exchange rates and metalprices; from future integration of acquired businesses; and from numerous othermatters of national, regional and global scale, including those of a political,economic, business, competitive or regulatory nature. This list is notexhaustive of the factors that may affect any of our forward-looking statementscontained in this release. These and other factors should be consideredcarefully and readers should not place undue reliance on our forward-lookingstatements. We do not undertake to update our forward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vedanta Resources