10th Apr 2008 13:00
Vedanta Resources PLC10 April 2008 10 April 2008 Vedanta completes exercise of KCM call option Vedanta Resources plc ("Vedanta") is pleased to announce its completion of theacquisition of the KCM call option shares for US$213.15 million, the amountdetermined by the independent valuation as at 12 August 2005. This purchaserepresents 28.4% of KCM and takes Vedanta's holding in KCM to 79.4%, with thebalance continuing to be held by the Government of the Republic of Zambia. Thetransaction is funded out of existing cash resources. Vedanta has receivedconfirmation that the Zambian merger control regulation does not apply to thetransaction. "Consolidation of the group structure is a key pillar of Vedanta's strategy. Thesuccessful exercise of this call option is a significant milestone towardsachieving this objective." said Mr. Anil Agarwal, Chairman, Vedanta Resourcesplc. "This transaction is immediately earnings accretive and will alsosubstantially enhance longer term value for all our shareholders." For further information, please contact: Sumanth Cidambi sumanth.cidambi@vedanta.co.inAssociate Director - Investor Relations Tel: +44 20 7659 4732 / +91 22 6646 1531Vedanta Resources plc James MurgatroydRobin WalkerFinsbury Tel: +44 20 7251 3801 About Vedanta Resources plc Vedanta Resources plc is a London listed FTSE 100 diversified metals and mininggroup. Its principal operations are located throughout India, with furtheroperations in Zambia and Australia. The major metals produced are aluminium,copper, zinc, lead and iron ore. For further information, please visitwww.vedantaresources.com. Disclaimer 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." Forward-looking statements by their nature addressmatters that are, to different degrees, uncertain. For us, uncertainties arisefrom the behaviour of financial and metals markets including the London MetalExchange, fluctuations in interest and or exchange rates and metal prices; fromfuture integration of acquired businesses; and from numerous other matters ofnational, regional and global scale, including those of a political, economic,business, competitive or regulatory nature. These uncertainties may cause ouractual future results to be materially different that those expressed in ourforward-looking statements. HZL does not undertake to update its forward-lookingstatements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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