22nd Mar 2005 15:35
Vedanta Resources PLC22 March 2005 22 March 2005 Offer to Minority Shareholders of MALCO On 1 March Vedanta Resources plc announced that an offer was being made tominority shareholders in MALCO, who own 20% of the outstanding shares. Thisoffer is being carried out by way of a reverse book build. The first phase of the book build, open only to those with shares in electronicform, is complete and a price of INR240 is now open to all holders of papercertificates and will remain open for them until 7 April. This price representsa premium of some 30% to the floor price, being the average over the six monthsprior to the offer, as defined by Indian regulations. Should Vedanta's holding move above 90% of MALCO, as a result of this offer,then an application will be made to delist the company. For further information, please contact: Peter Sydney-Smith, Finance Director Tel: +44 20 7499 5900John Smelt, Head of Investor Relations +44 787 964 2675Vedanta Resources plc James Murgatroyd Tel: +44 20 7251 3801Robin WalkerFinsbury Notes to Editors: Vedanta is a London listed diversified metals and mining group. Our principaloperations are located throughout India, with further operations in Zambia andAustralia. The major metals produced are aluminium, copper, zinc and lead. MALCO (The Madras Aluminium Company) comprises two bauxite mines and the MetturDam smelting and refining complex. It has a capacity of 35,000 tpa of aluminium.It is the only aluminium smelter in Southern India. Through a wholly ownedsubsidiary, Vedanta currently holds 80% of the outstanding shares in MALCO. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vedanta Resources