15 February 2008
NEWS
RELEASE
Extension of
Offer Period
Xstrata Nickel
Australia Pty Limited (“XNA”), a wholly owned subsidiary of Xstrata
plc (LSE: XTA, ZSE: XTA.S) announces an extension to its takeover offer
(“Offer”) for Jubilee Mines NL (ASX: JBM.AU)
(“Jubilee”) to 7:00pm (Sydney
time) 22 February 2008 (unless further extended).
As at the time of this
announcement, XNA has an interest in 94.7% of the total issued shares of
Jubilee.
XNA declared the Offer
free from all conditions on 31 January 2008. Shareholders who validly accept
the Offer will be sent their Offer consideration on or before 5 business days
after the date of acceptance. Acceptances must be received before the Offer
closes at 7pm (Sydney
time) on Friday 22 February 2008 (unless further extended).
Ian Pearce, Xstrata
Nickel Chief Executive, said: “We encourage those shareholders who have
not yet accepted our offer to do so now to ensure that they receive payment
with a minimum of delay. Our offer of A$23 per share is final and will not be
increased.”
XNA is now entitled to
proceed to compulsory acquisition of the outstanding Jubilee Shares, and
intends to commence this process next week. Any holders of shares that
are compulsorily acquired will be unable to receive their offer consideration
for approximately six weeks.
The directors of
Jubilee have recommended that all shareholders accept XNA’s offer and
have themselves all accepted XNA’s offer for their own personal
shareholdings.
Xstrata also notes
that on 14 February 2008 Jubilee was removed from the S&P/ASX 200 index.
To accept the offer,
Jubilee shareholders should follow the instructions on the Acceptance Form
which was enclosed with the Bidder’s Statement. If a new Acceptance
Form is required or Jubilee shareholders have any questions, please call the
Offer information line on 1800 635
306 (toll free for callers within Australia)
or +61 2 8004 4312 (callers outside Australia)
Ends
Xstrata contacts:
Xstrata
Claire Divver
|
Xstrata Nickel
Peter Fuchs
|
Telephone:
+44 (0)20 7968 2871
|
Telephone: +1 416 775 1523
|
Mobile: +44 (0)7785 964 340
|
Mobile: +1 416 305 9273
|
Email: cdivver@xstrata.com
|
Email : pfuchs@xstratanickel.ca
|
|
|
Gabrielle Notley
Telephone: +61 (0)2 9232 1033
Mobile: +61 (0)411 071 715
Email: gmn@jcp.com..au
|
|
www.xstrata.com
About Xstrata Nickel
Xstrata Nickel,
headquartered in Toronto, Canada, is one of Xstrata Group’s global
commodity businesses, comprising five mines and processing facilities in Ontario and Quebec, Canada; a ferronickel mine and processing
facility in Bonao, Dominican
Republic; and a refinery in Kristiansand, Norway.
Xstrata Nickel has a significant
portfolio of growth projects, including Koniambo in New
Caledonia, Nickel Rim
South in Canada, Kabanga in Tanzania and Araguaia in Brazil. Xstrata Nickel is the world’s fourth largest nickel
producer, with annual managed production of more than 110,000 tonnes of refined
nickel.
About Xstrata plc
Xstrata is a global diversified mining
group, listed on the London and Swiss Stock
Exchanges, with its headquarters in Zug,
Switzerland.
Xstrata’s businesses maintain a meaningful position in seven major
international commodity markets: copper, coking coal, thermal coal,
ferrochrome, nickel, vanadium and zinc, with additional exposures to platinum
group metals, gold, cobalt, lead and silver, recycling facilities and a suite
of global technology products, many of which are industry leaders. The Group's
operations and projects span 18 countries: Argentina,
Australia, Brazil, Canada,
Chile, Colombia, the Dominican
Republic, Germany,
New Caledonia, Norway,
Papua New Guinea, Peru, the Philippines,
South Africa, Spain, Tanzania,
the USA and the UK.
Xstrata employs approximately 50,000 people, including contractors.
Xstrata is a major, long-term investor in Australia and currently employs over 11,000
Australians at its coal, copper and zinc operations in New
South Wales, Queensland, the Northern Territory and Western Australia. Since 2002 Xstrata
has invested over A$10.4 billion (US$7.3 billion) in Australia.
Further information
on Xstrata and Jubilee was provided to Jubilee shareholders in the
Bidder’s Statement and Target’s Statement dated November 9, 2007
and November 15, 2007, respectively.
Legal
Notice
The release, publication or
distribution of this announcement in certain jurisdictions may be
restricted by law and
therefore persons in such jurisdictions into which this announcement is
released, published or distributed should inform
themselves about and observe such restrictions.