Vedanta Resources PLC
13 April 2005
13th April 2005
Vedanta Resources plc
Offer to Minority Shareholders of MALCO
Vedanta Resources plc, the London listed metals and mining company, announces
that the offer being made to minority shareholders in MALCO, who own 20% of the
outstanding shares, has lapsed.
This offer was carried out by way of a reverse book build at a price of INR240,
17% above the current share price. Acceptances did not reach the required level
of 90%. In accordance with Indian regulations, Vedanta's holding of MALCO will
remain at 80%.
For further information, please contact:
Peter Sydney-Smith, Finance Director
John Smelt, Head of Investor Relations
Vedanta Resources plc Tel: +44 20 7659 4734
+44 787 964 2675
Finsbury Tel: +44 20 7251 3801
Notes to Editors:
Vedanta is a London listed diversified metals and mining group. Our principal
operations are located throughout India, with further operations in Zambia and
Australia. The major metals produced are aluminium, copper, zinc and lead.
MALCO (The Madras Aluminium Company) comprises two bauxite mines and the Mettur
Dam smelting and refining complex. It has a capacity of 35,000 tpa of aluminium.
It is the only aluminium smelter in Southern India. Through a wholly owned
subsidiary, Vedanta currently holds 80% of the outstanding shares in MALCO.
This information is provided by RNS
The company news service from the London Stock Exchange