/KASE, June 10, 08/ - Company KAZAKHMYS PLC (London), common shares
of which are traded in the Kazakhstan Stock Exchange (KASE) category "A"
official list, provided to KASE the press release, which informs of the
following:
Quotation start
The Board of Kazakhmys is pleased to announce the signing of an agreement to
acquire a further 7.66% stake in Eurasian Natural Resources Corporation PLC
from the Government of Kazakhstan as follows:
- Kazakhmys is to acquire 98,607,884 shares in ENRC from the Government
of Kazakhstan
- Acquisition will take the total holding of Kazakhmys in ENRC from
14.59% to 22.24%
- Acquisition is subject to regulatory approvals and approval by the
shareholders of Kazakhmys
- Kazakhmys is to issue 80,286,050 new shares to the Government of
Kazakhstan in return to ENRC PLC blosk of shares
- The Government of Kazakhstan will become a holder of 15.0% of the
enlarged share capital of Kazakhmys
- Agreed exchange ratio of 1 Kazakhmys shares for 1.23 ENRC shares
- Following completion of the Acquisition, Kazakhmys will have acquired
its stake in ENRC at an average price of 623 pence per ENRC share
- Issue of new equity maintains the flexibility and strength of Kazakhmys'
balance sheet
- The Acquisition will make Kazakhmys the largest single shareholder in ENRC
- The Board of Kazakhmys believes this acquisition will significantly
enhance the strategic value of its holding in ENRC
- Continues Kazakhmys' strategy of diversifying through acquiring interests
in natural resource businesses in Central Asia
- The Board of Kazakhmys has no intention of making a full offer for ENRC
shares at the current time
Commenting on the Acquisition, Vladimir Kim, Chairman of Kazakhmys said "We
are delighted to announce the proposed acquisition of additional shares in
ENRC, which will enhance the value of our current holding. This is a
continuation of our strategy of diversifying our portfolio by acquiring other
natural resource assets in Kazakhstan and the Central Asian region. I welcome
the participation of the Government of Kazakhstan as a minority shareholder in
Kazakhmys".
For more detailed information, please call to the following contact telephones:
Kazakhmys PLC
John Smelt, Head of Corporate Communications
Tel.: +44 20 7901 7882
Olga Nekrassova,Financial Analyst
Tel.: +44 20 7901 7814
"Merlin"
David Simonson and Tom Pandell
Tel.: +44 20 7653 6620
Leonid Fink
Tel.: +44 20 7653 6620
Quotation end
The full version of KAZAKHMYS PLC press release is available on KASE site at:
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_100608.pdf - in
Russian;
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_100608e.pdf - in
English.
[2008-06-10]