12th Jun 2009 07:48
12 June 2009
Preferential Allotment by Sesa Goa
Vedanta Resources plc ("Vedanta" or the "Company") announces that it has made an offer to subscribe to the equity share capital (the "Preferential Offer") of its majority controlled subsidiary, Sesa Goa Limited ("Sesa"). Under this offer, Vedanta will subscribe to an additional 33,274,000 equity shares, face value of Rs. One each. The total cash outlay to subscribe to the Preferential Offer is estimated to be US$120 million. Post the completion of this transaction, Vedanta's total shareholding in Sesa will increase from 53.1% to 55.0%. The transaction is subject to the approval of Sesa's shareholders and is expected to be completed by July 2009.
For further information, please contact:
|
Sumanth Cidambi Director - Investor Relations Vedanta Resources plc |
Tel: +44 20 7659 4732 / +91 22 6646 1531 |
|
Faeth Birch Robin Walker Finsbury |
Tel: +44 20 7251 3801 |
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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