4th Apr 2005 08:35
BHP Billiton PLC04 April 2005 Date 4 April 2005 Number 14/05 BHP BILLITON ANNNOUNCES FOREIGN INVESTMENT REVIEW BOARD APPROVAL OF BID FOR WMC RESOURCES LTD BHP Billiton advises that the Australian Treasurer has confirmed that there areno objections under the Australian Government's foreign investment policy to BHPBilliton's acquisition of WMC Resources Ltd. A copy of the Treasurer'sannouncement is attached. The Treasurer's confirmation is subject to certain conditions which BHP Billitonhas agreed to observe. As the conditions are acceptable to BHP Billiton, BHPBilliton will free its offer of the condition set out in clause 5.1(b) of theBidder's Statement. This is the second condition to have been removed. BHP Billiton Chief Executive Officer, Chip Goodyear, welcomed the announcementby the Treasurer of the Government's approval of its bid. The offer is $7.85 for each WMC Resources Ltd share and the closing date* of theoffer is 7.30 pm (Melbourne time) on 6 May 2005.\* This date is indicative only and may change as permitted by the AustralianCorporations Act 2001 (Cth) Further information on BHP Billiton can be found on our Internet site: http://www.bhpbilliton.com Australia United KingdomJane Belcher, Investor Relations Mark Lidiard, Investor & Media RelationsTel: +61 3 9609 3952 Mobile: +61 417 Tel: +44 20 7802 4156031 653email: [email protected] email: [email protected] Tania Price, Media Relations Ariane Gentil, Media RelationsTel: +61 3 9609 3815 Mobile: +61 419 Tel: +44 20 7802 4177152 780email: [email protected] email: [email protected] States South Africa Michael Campbell, Investor & Media RelationsTel: +1 713 599 6100 or +44 20 7802 Tel: +27 11 376 3360 Mobile: +27 82 4584031 2587email: [email protected] email: [email protected] Further Information for U.S. holdersBHP Billiton has filed the Bidder's Statement with the U.S. Securities andExchange Commission (SEC) under cover of Form CB. Investors and holders of WMCResources securities are strongly advised to read the Bidder's Statement and anyother relevant documents filed with the SEC, as well as any amendments andsupplements to those documents, because they will contain important information.Investors and holders of WMC Resources securities may obtain free copies of theinformational document (when available), as well as other relevant documentsfiled with the SEC, at the SEC's website at www.sec.gov. WMC Resources hasissued a target's statement in connection with the offer which investors andholders of WMC Recourses securities are strongly advised to read.This communication is for information purposes only. It shall not constitute anoffer to purchase, sell or exchange or the solicitation of an offer to purchase,sell or exchange any securities of WMC Resources. The distribution of thiscommunication may, in some countries, be restricted by law or regulation.Accordingly, persons who come into possession of this document should informthemselves of and observe these restrictions. NO. 025Treasurerwww.treasurer.gov.au FIRB: BHP BILLITON GROUP/WMC Exercising powers under the Foreign Acquisitions and Takeovers Act 1975 (theAct), I have decided that the Australian Government has no objection to the BHPBilliton Group's (BHPB) proposed acquisition of all the issued shares of WMCResources Limited (WMC) provided that BHPB complies with the conditions set outin Attachment A.These conditions are in addition to previous conditions imposed under the Act,all of which remain in place. CANBERRA4 April 2005 Contact: David Alexander02 6277 7340 ATTACHMENT ABHPB's undertakings, observance of which is a condition under Section 25 (1A) ofthe Foreign Acquisitions and Takeovers Act 1975 (the Act):1. BHPB will abide by all Australian federal and state laws andregulations relating to the mining and export of uranium;2. BHPB will undertake prior consultations with the Department ofIndustry, Tourism and Resources on the terms of any and all marketingarrangements it enters into with third parties in respect of uranium, which willbe subject to all regulatory requirements imposed as part of the AustralianGovernment's regulations and disclosure rules relating to uranium sales out ofAustralia.This condition will have effect indefinitely, subject to amendment of the Act orany revocation or amendment by the Treasurer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BHP Group