16th May 2006 17:41
BHP Billiton PLC16 May 2006 NEWS RELEASE Release Time IMMEDIATE Date 16 May 2006 Number 17/06 BHP BILLITON COMPLETES US$2 BILLION CAPITAL RETURN BHP Billiton today announced that it has successfully completed the US$2 billioncapital management programme announced in February 2006, buying back a total of114.82 million shares, or 1.9% of the issued share capital of the BHP BillitonGroup. BHP Billiton Chief Financial Officer, Alex Vanselow, said the rapid completionof the programme demonstrated BHP Billiton's commitment to enhancing shareholdervalue. "We are delighted to have been able to complete our announced programme in sucha short space of time and in a way that maximises value to the Group and ourshareholders. The reduced number of shares on issue means that all shareholderswill benefit from the increased earnings, cash flow and return on equityattributable to each share. BHP Billiton has now returned US$11.4 billion toshareholders since June 2001 through a combination of dividends, buy-backs andother forms of capital returns. "We continue to review the Company's capital requirements and, in accordancewith our commitment to strong capital discipline, will continue to returnsurplus capital to shareholders when appropriate, whilst ensuring that we areable to finance our significant pipeline of growth opportunities and support ourprogressive dividend policy, regardless of short term commodity price movements," Mr Vanselow said. The A$2.25 billion (US$1.6 billion) off-market buy-back of 96.0 million sharesin BHP Billiton Limited was completed on 3 April 2006 at a price of A$23.45 pershare, representing a discount of 14% to the volume weighted average price ofBHP Billiton Limited shares over the 5 trading days up to and including theclosing date of the buy-back. The on-market buy-back of shares in BHP Billiton Plc commenced on 27 April 2006and was completed today. A total of 18.82 million shares have been bought backat an average price of 1153.56 pence (totalling £217 million or US$403m). Thisrepresents a discount to the average BHP Billiton Limited share price over theperiod of 8.8%. Further information on BHP Billiton can be found on our Internet site: http://www.bhpbilliton.com Australia United KingdomSamantha Evans, Media Relations Mark Lidiard, Investor & Media RelationsTel: +61 3 9609 2898 Tel: +44 20 7802 4156 Mobile: +61 400 693 915 Mobile: +44 7769 934 942email: [email protected] email: [email protected] Jane Belcher, Investor Relations Illtud Harri, Media RelationsTel: +61 3 9609 3952 Tel: +44 20 7802 4195 Mobile: +61 417 031 653 Mobile: +44 7920 237 246email: [email protected] email: [email protected] United States South AfricaTracey Whitehead, Investor & Alison Gilbert, Investor RelationsMedia Relations Tel: US +1 713 599 6100 or Tel: SA +27 11 376 2121 or UK +44 20 7802 4031 UK +44 20 7802 4183Mobile: +44 7917 648 093email: [email protected] email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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