14th Jul 2008 14:40
STATEMENT REGARDING SPECULATION
Kazakhmys PLC ("Kazakhmys") notes the recent speculation regarding a potential combination. In the course of its business, Kazakhmys continues to evaluate a wide range of potential opportunities and confirms that it is in very preliminary discussions about a possible combination of its business with a third party which may or may not lead to an offer for Kazakhmys.
The discussions are at a very early stage and, consequently, there is no certainty as to the terms and structure of such a transaction nor that an agreement will be reached between the parties. Any transaction would be subject to shareholder approval.
A further announcement will be made in due course.
Enquiries:
Kazakhmys PLC
John Smelt, Head of Corporate Communications
+44 (0) 207 901 7800
Merlin
David Simonson
+44 (0) 207 653 6620
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Kazakhmys all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Kazakhmys, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Kazakhmys by the offeror or Kazakhmys, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Related Shares:
KAZ.L