7th Oct 2005 07:00
Kazakhmys PLC 07 October 2005 The information contained herein is restricted and is not for release or distribution in or into the United States of America, Australia, Canada, the Republic of Ireland or Japan or to a US person or to residents or citizens of Australia, Canada, the Republic of Ireland or Japan. London, 7 October 2005, 7:00am Kazakhmys PLC announces offer price of 540 pence per share Kazakhmys PLC ('Kazakhmys' or the 'Group') today announces the successful pricing of its initial public offering of ordinary shares (the 'Global Offer'). The offer price has been set at 540 pence per ordinary share (the 'Offer Price'). The price range announced on 27 September 2005 was 460 - 545 pence. o Based on the Offer Price, the market capitalisation immediately following the Global Offer of Kazakhmys will be approximately £2,524 million. o The Global Offer comprises approximately 58.4 million new ordinary shares and approximately 64.0 million existing ordinary shares of Kazakhmys, representing 26.2% of the 467.5 million Kazakhmys shares in issue following the completion of the Global Offer. o The total gross proceeds of the Global Offer are expected to be approximately £661.4 million. The gross proceeds to be received by Kazakhmys from the issue of new ordinary shares are expected to be £315.5 million. The principal use of the proceeds to be received by Kazakhmys is to grow the Group both organically as well as through opportunistic acquisitions. o In addition, an over-allotment option consisting entirely of existing shares in the Group has been granted in respect of 15% of the Global Offer, which may result in the disposal of up to a further 18.4 million existing Kazakhmys shares at the Offer Price. o Following the Global Offer, holding companies controlled by the Group's three Executive Directors will remain the largest shareholders of Kazakhmys, with a combined ownership of 72.8% prior to any exercise of the over-allotment option, or 68.9% in the event the over-allotment option is exercised in full. o It is expected that admission of the Group's ordinary shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will become effective and unconditional dealings will commence at 8:00am (London time) on 12 October 2005. o Conditional dealings will commence on the London Stock Exchange at 8.00am today under the ticker symbol KAZ. Commenting on today's announcement, Vladimir Kim, Executive Chairman of Kazakhmys and Chairman of the Board of Directors said: 'We are delighted with the positive response to the Kazakhmys IPO. We are particularly pleased with the quality of the shareholder base and welcome our new shareholders. Their investment will enable us to continue to take advantage of Kazakhstan's extraordinary mineral wealth, and deliver on our growth strategy to create value for our shareholders. We are very much looking forward to the next phase of our development as a listed company.' Any allocations under the Global Offer will be conditional on Admission to listing. All dealings on the LSE between commencement of conditional dealings and the commencement of unconditional dealings will be on a 'when issued' basis. If the Global Offer does not become unconditional, all such dealings will be of no effect and any such dealings will be at the sole risk of the parties concerned. JPMorgan Cazenove Limited ('JPMorgan Cazenove') is acting as Financial Adviser to Kazakhmys and as Sponsor in connection with the Global Offer and the Group's admission to the Official List of the Financial Services Authority. Credit Suisse First Boston (Europe) Limited ('Credit Suisse First Boston') and JPMorgan Cazenove are Joint Global Co-ordinators and Joint Bookrunners for the IPO. JPMorgan Cazenove is acting as Stabilising Manager. - ends - For further information, please contact: Finsbury Tel: +44 207 251 3801 Roland Rudd Morgan Bone Robin Walker Credit Suisse First Boston Tel: +44 207 888 8888 Paul Raphael Hasnen Varawalla JPMorgan Cazenove Tel: +44 207 588 2828 Ian Hannam Lloyd Pengilly Arjun Khullar This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of the Ordinary Shares in the United States. This announcement is not an offer of securities for sale in France. Absent a clearance of the prospectus by the French Autorite des Marches Financiers or the obtaining of passporting rights in France under the Prospectus Directive, the shares may not be offered or sold in France other than to qualified investors as defined in Article L. 411-2 of the French Code Monetaire et Financiers provided they act for their own account, or in other circumstances which will not result in an offer to the public pursuant to Article L. 411-2 of the same code. Any transfers of shares to the public in France shall only be carried out in compliance with the provisions of Articles L.411-1, L.411-2, L.412-1 and L.621-8 to L.621-8-3 of the French Code Monetaire et Financier.' The contents of this announcement, which has been issued by Kazakhmys and is the sole responsibility of Kazakhmys, has been approved solely for the purposes of Section 21 (2) (b) of the Financial Services and Markets Act 2000 by JPMorgan Cazenove Limited of 20 Moorgate, London EC2R 6DA. JPMorgan Cazenove Limited, or its nominated affiliates, is acting for Kazakhmys and no one else in connection with the proposed offer of ordinary shares of Kazakhmys (the 'Global Offer') and will not be responsible to anyone other than Kazakhmys for providing the protections afforded to clients of JPMorgan Cazenove Limited, nor for providing advice in relation to the Global Offer, the contents of this announcement or any matters referred to herein. This announcement does not contain or constitute an offer, invitation or solicitation to purchase or subscribe for any securities of Kazakhmys and should not be relied on in connection with any decision to purchase or subscribe for any such securities. Any purchase of or subscription for securities of Kazakhmys should be made solely on the basis of the information contained in the prospectus to be issued in connection with the Global Offer. JPMorgan Cazenove Limited, J.P. Morgan Securities Ltd. (together, 'JPMorgan') and Credit Suisse First Boston (Europe) Limited ('Credit Suisse First Boston'), are acting for Kazakhmys and no one else in connection with the proposed listing of shares on the London Stock Exchange for the ordinary shares of Kazakhmys (the 'Ordinary Shares'), issued and to be issued in connection with the Global Offer and will not be responsible to anyone other than Kazakhmys for providing the protections afforded to clients of JPMorgan and Credit Suisse First Boston, nor for giving advice in relation to the Global Offer or any matter referred to in any documents or other information contained herein. The shares proposed to be offered in the Group have not been and will not be registered under the US Securities Act of 1933 (the 'Securities Act') and may not be offered or sold in the United States absent registration under the Securities Act or exemption from the registration requirements thereof. Neither this announcement nor any copy of it may be made or transmitted into the United States, its territories or possessions or distributed, directly or indirectly, in the United States, its territories or possessions. Neither this announcement nor any copy of it may be taken or transmitted into Australia, Canada, Japan or the Republic of Ireland or to any persons in any of those jurisdictions. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian, Japanese or Irish securities law. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. The securities referred to herein have not been and will not be registered under the applicable securities laws of the United States, Canada, Australia, Japan or the Republic of Ireland and, subject to certain exceptions, may not be offered or sold within the United States, Canada, Australia, Japan or the Republic of Ireland or to any national, resident or citizen of the Unites States, Canada, Australia, Japan or the Republic of Ireland. Stabilisation/FSA This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
KAZ.L