5th Jun 2007 07:01
Vedanta Resources PLC05 June 2007 5 June 2007 Vedanta Resources Plc Launch of Global ADS Offering by Sterlite Industries Vedanta Resources plc announced that its Indian subsidiary, Sterlite Industries(India) Limited ("Sterlite") has today launched a global ADS offering. The textof the release issued by Sterlite is reproduced below. START OF RELEASE Sterlite Industries (India) Limited Launches Global ADS Offering MUMBAI, INDIA, June 5, 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 today that it hascommenced distribution of the preliminary prospectus in anticipation of a globaloffering of 125 million of its equity shares in the form of American DepositaryShares, or ADS. These equity shares in the form of ADSs will represent anapproximately 18.3% interest in Sterlite post-offering. Sterlite has applied tohave its ADSs listed on the New York Stock 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 Limited and Citigroup Global Markets Inc. (the "Representatives"). Nomura Singapore Limited is the underwriter for a public offering withoutlisting in Japan ("Japanese Offering") of Sterlite's equity shares in the formof ADSs. Sterlite expects to allocate 11.5 million equity shares in the form ofADSs from the global offering to the Japanese Offering. After this offering, Sterlite is expected to have approximately 683 millionequity shares outstanding, with Vedanta Resources plc owning approximately 62.8%of those shares. All of the equity shares in the form of ADSs are being sold by Sterlite.Sterlite anticipates granting the Representatives an option to purchase up to anadditional 18.75 million equity shares in the form of ADSs to coverover-allotments, if any. The share and percentage numbers above assume noexercise of this option. A copy of the prospectus relating to this offering may be obtained bycontacting: 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 Department or 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. A registrationstatement relating to Sterlite's equity shares in the form of ADSs has beenfiled with the United States Securities and Exchange Commission but has not yetbecome effective. Sterlite's equity shares in the form of ADSs may not be soldnor may offers to buy be accepted prior to the time the registration statementbecomes effective. This press release contains "forward-looking statements" relating to the numberof equity shares in the form of ADSs that Sterlite may offer in the globaloffering (including the number thereof that may be allocated to the Japaneseoffering), the number of Sterlite equity shares in the form of ADSs that may besubject to the option that Sterlite may grant to the Representatives, the numberof Sterlite equity shares expected to be outstanding after the offering and thepercentage ownerships of Sterlite that investors in the offering and VedantaResources plc may hold upon completion of the offering. These forward-lookingstatements are subject to a variety of factors, including market conditions andother risks typically associated with securities offerings. You should not placeundue reliance on these forward-looking statements, which speak only as of thedate of this press release. Other than as required under applicable securitieslaws, Sterlite does not undertake to update these forward-looking statements. 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 Vedanta 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. 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