19th Jun 2007 07:03
Vedanta Resources PLC19 June 2007 19 June 2007 Vedanta Resources Plc Pricing of Global ADS Offering by Sterlite Industries Vedanta Resources plc announced that its Indian subsidiary, Sterlite Industries(India) Limited ("Sterlite") has today priced its global ADS offering. The textof the release issued by Sterlite is reproduced below. START OF RELEASE MUMBAI, INDIA, June 19, 2007 - Sterlite Industries (India) Limited (BSE:STERLITE IN; NSE: STER) ("Sterlite"), India's largest non-ferrous metals andmining company based on net sales in fiscal 2007, announced that it has pricedits initial public offering of 130,440,000 of its equity shares in the form ofAmerican Depositary Shares, or ADS, at a price of $13.44 per ADS. These equityshares in the form of ADSs represent an approximately 18.9% interest in Sterlitepost-offering. Sterlite's ADSs have been approved for listing on the New YorkStock Exchange under the symbol "SLT." The underwriters and joint global coordinators and bookrunners for the offeringare Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.International plc and Citigroup Global Markets Inc. (the "Representatives"). Nomura Singapore Limited is the underwriter for a public offering withoutlisting in Japan ("Japanese Offering") of 11,500,000 of Sterlite's equity sharesin the form of ADSs, which were allocated to the Japanese Offering from theglobal offering. After this offering, Sterlite will have approximately 689 million equity sharesoutstanding. All of the equity shares in the form of ADSs were sold by Sterlite. Sterlite hasgranted the Representatives an option to purchase up to an additional19,560,000 equity shares in the form of ADSs to cover over-allotments, if any.The share and percentage numbers above assume no exercise of this option. A copy of the prospectus relating to this offering may be obtained by contacting: Merrill Lynch, Pierce, Fenner & Smith Incorporated4 World Financial CenterNew York, N.Y. 10080Attention: Prospectus Department (4th Floor) Morgan Stanley & Co. Incorporated180 Varick StreetNew York, New York 10014USAAttention: Prospectus Departmentor by email at [email protected] Citigroup Global Markets Inc.Brooklyn Army Terminal140 58th Street8th FloorBrooklyn, NY 11220or call 718-765-6732 About this Press Release; Forward-Looking Statements This press release shall not constitute an offer to sell or the solicitation ofan offer to buy securities, nor shall there be any sale of Sterlite's equityshares in the form of ADSs, in any jurisdiction, including the United States, inwhich such offer, solicitation or sale would be unlawful prior to registrationor qualification under the securities laws of such jurisdiction. END OF RELEASE For further information, please contact:Sumanth Cidambi [email protected] Director - Investor Relations Tel:+44 20 7659 4732/+91 22 6646 1531Vedanta Resources plc Faeth Birch Tel:+44 20 7251 3801Robin WalkerFinsbury About Vedanta Resources plc •edanta Resources plc is a London listed diversified metals and mining group.Its principal operations are located throughout India, with further operationsin Zambia, Australia and Armenia. The major metals produced are aluminium,copper, zinc, lead, iron ore and gold. 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. We do not undertake to update our forward-lookingstatements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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