12th Mar 2008 12:40
Eurasian Natural Resources Corp Plc12 March 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS IN THAT JURISDICTION Eurasian Natural Resources Corporation PLC ("ENRC" or "the Company") Statement regarding Kazakhmys PLC ("Kazakhmys") ENRC notes the recent movements in the share price of Kazakhmys. Following its successful Initial Public Offering in December 2007, and given theevolving industry dynamics, ENRC is constantly reviewing a number of strategicopportunities with a view to creating further value for its shareholders. One of the opportunities that is at the early stages of being evaluated is apotential combination of its business with that of Kazakhmys. Whilst there hasbeen informal dialogue with Kazakhmys, no formal proposal has been made by ENRCand there can be no certainty that a formal proposal will be made and, if made,that it will result in an offer for Kazakhmys. Enquiries: M: CommunicationsHugh Morrison +44 (0) 20 7153 1534Edward Orlebar +44 (0) 20 7153 1523 About ENRC ENRC is a leading diversified natural resources group with integrated mining,processing, energy, logistical and marketing operations. It is the world'slargest producer of ferrochrome, based on chrome content, the world's sixthlargest iron ore exporter by volume and world's fifth largest supplier of tradedalumina by volume. The Group's revenues were US$3,256 million for the year ended31 December 2006 and US$1,856 million for the six months ended 30 June 2007.EBITDA (pre exceptional items) was US$1,256 million for the year ended 31December 2006 and US$797 million for the six months ended 30 June 2007. Forfurther information please see the Group's website at www.enrc.com. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is, or becomes, "interested" (directly or indirectly) in 1% or more ofany class of "relevant securities" of ENRC or Kazakhmys, all "dealings" in any"relevant securities" of that company (including by means of an option inrespect of, or a derivative referenced to, any such "relevant securities") mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an"interest" in "relevant securities" of ENRC or Kazakhmys, they will be deemed tobe a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of ENRC or Kazakhmys by ENRC or Kazakhmys, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London business day following the date of the relevant transaction.A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ENRC.LKAZ.L