NEWS
RELEASE
STATEMENT RE: MEDIA SPECULATION
Zug, 12 December 2007
Xstrata
plc (“the Company” or “Xstrata”) notes recent media
speculation regarding a potential transaction involving the Company. As
required by the Panel Executive under Rule 2.2(c) of the Takeover Code, Xstrata
confirms that its ongoing interaction with other industry participants includes
dialogue with a number of parties covering a range of topics of mutual interest
such as industry consolidation. Xstrata is continually reviewing
opportunities within the industry with a view to adding value to its
shareholders. None of these very preliminary discussions has resulted in any proposal
being made either for or by Xstrata and there can be no certainty that any such
proposal will result. Any further announcement will be made if and when
required.
ends
Xstrata contacts |
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Claire Divver |
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Telephone |
+44 20 7968 2871 |
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Mobile |
+44 7785 964 340 |
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Email |
cdivver@xstrata.com |
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Dealing Disclosure Requirements
Under
the provisions of Rule 8.3 of the UK 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 Xstrata plc, all
"dealings" in any "relevant securities" of Xstrata plc
(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 3.30pm (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acceptances, lapses or is otherwise withdrawn or on which the "offer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 Xstrata plc, 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 Xstrata plc by Xstrata plc or by any
potential offeror 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.
Notes
to editors
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.