Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Vedanta Resources (VED)

  Print      Mail a friend       Annual reports

Wednesday 22 February, 2006

Vedanta Resources

Convertible Bonds Closing

Vedanta Resources PLC
22 February 2006




Vedanta Resources PLC
22 February 2006

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO US PERSONS
          OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN

22 February 2006

Vedanta Resources Plc ('Vedanta') announces the closing of the issue of its US$
725 million 4.60% Convertible Bonds due 2026 (the 'Bonds')

Vedanta announces the closing of the issue of its U.S.$725,000,000 4.60 per
cent. Guaranteed Convertible Bonds due 2026. The Bonds, following the Election
Date (referred to below), on conversion will convert into Global Depositary
Receipts ('GDRs'), with each GDR, at Closing, representing one fully-paid
ordinary share of Vedanta, with a nominal value of U.S.$0.10 (an 'Ordinary
Share'). The Bonds will be issued by Vedanta's wholly owned subsidiary, Vedanta
Finance (Jersey) Limited ('Vedanta Finance') and will be guaranteed by Vedanta.
Ordinary Shares are to be issued pursuant to an exchange of preference shares
(the 'Preference Shares') of Vedanta Finance for Ordinary Shares. The number of
Ordinary Shares (represented by GDRs) to be issued will be determined by
dividing the aggregate paid up value of each Preference Share, being U.S.$1,000
(translated into pounds sterling at a fixed exchange rate of U.S.$1.7845/£),
issued on conversion of the Bonds by the exchange price (being £14.54 per
Ordinary Share, subject to adjustment in accordance with the articles of
association of Vedanta Finance then in effect).

Holders of GDRs will not be entitled to exercise voting rights in respect of the
Ordinary Shares represented by such GDRs, nor will holders of GDRs be entitled
to withdraw Ordinary Shares from the GDR facility, unless Vedanta shall notify
holders otherwise.

The conversion rights will be exercisable from and after 3 May 2006. Prior to
the date that Vedanta gives notice to holders (the 'Election Date'), holders of
the Bonds ('Bondholders') will not receive GDRs or Ordinary Shares upon
conversion, but will receive a cash payment in sterling determined by reference
to the volume weighted average price of the Ordinary Shares in accordance with
the terms and conditions of the Bonds. Following the Election Date, the Bonds
will be convertible into GDRs in the manner referred to above but Vedanta
Finance may elect to satisfy such conversion rights attaching to any Bonds by
delivering or procuring that there are delivered on such exercise of such
rights, Ordinary Shares, in lieu of GDRs.

The maximum number of Ordinary Shares into which the Bonds would convert,
assuming no adjustment as aforesaid, would be 27.94 million.

Barclays Bank PLC will have the right, at any time, to deposit up to six million
Ordinary Shares into the GDR facility. Current and/or future holders of Ordinary
Shares may, with the consent of Vedanta, deposit Ordinary Shares into the GDR
facility.

The Bonds are subject to redemption in whole (but not in part only) at their
principal amount, together with accrued interest, at the option of Vedanta
Finance (i) at any time on or after 14 March 2009 if on each dealing day in any
period of not less than 30 consecutive dealing days ending not earlier than 14
days prior to the date on which the relevant notice of redemption is given to
the Bondholders, the value of the Ordinary Shares that would fall to be issued
in relation to the conversion of a Bond in the principal amount of U.S.$100,000
would exceed U.S.$130,000 or (ii) at any time if, prior to the giving of notice
of such redemption, conversion rights shall have been exercised and/or purchases
and cancellations and/or redemptions effected in respect of 85 per cent. or more
in principal amount of the Bonds originally issued.

The Bonds may also be redeemed at the option of Bondholders at their principal
amount on 21 February 2013, 21 February 2018 and 21 February 2022. Unless
previously redeemed, converted or purchased and cancelled, the Bonds will be
redeemed at their principal amount together with unpaid accrued interest on 21
February 2026.

Applications have been made for the Bonds to be admitted to the Official List of
the UK Listing Authority (the 'Official List') and to be admitted to trading on
the Professional Securities Market of the London Stock Exchange plc (the 'London
Stock Exchange'). Application has been made for the GDRs to be listed on the
Luxembourg Stock Exchange's alternative market for the listing and trading of
securities. The Company has undertaken to apply to have the Ordinary Shares
(including those that may be represented by GDRs) issued upon conversion of the
Bonds admitted to the Official List and admitted to trading on the EEA Regulated
Market of the London Stock Exchange.

For further information, please contact:

Sumanth Cidambi                            sumanth.cidambi@vedanta.co.in
Associate Director - Investor Relations    Tel: +91 22 5646 1531
Vedanta Resources plc

Douglas Decker                             douglas.decker@barcap.com
Barclays Capital                           Tel: +44 20 7773 8302

Robin Walker                               robin.walker@finsbury.com
Finsbury                                   Tel:  +44 20 7251 3801



About Vedanta Resources plc

Vedanta Resources plc is a London listed diversified metals and mining group.
Its principal operations are located throughout India, with further operations
in Zambia and Australia. The major metals produced are aluminium, copper, zinc
and lead. For further information, please visit www.vedantaresources.com.

THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY
OFFER TO BUY SECURITIES, NOR SHALL THERE BE ANY OFFER OF SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES.
SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION
OR AN EXEMPTION FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED (THE 'SECURITIES ACT'). THE SECURITIES MENTIONED IN THIS
ANNOUNCEMENT HAVE NOT BEEN AND WILL NOT BE REGISTERED IN THE UNITED STATES UNDER
THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFER OF THE SECURITIES IN THE
UNITED STATES.



                      This information is provided by RNS
            The company news service from the London Stock Exchange