RNS Number : 7151Y
09 July 2008
9 July 2008
Kazakhmys PLC announces shareholder approval of acquisition of 7.7%
stake in ENRC PLC from the Government of Kazakhstan
Kazakhmys PLC (the "Company") announces that at its General Meeting held today, the proposed acquisition of a 7.66% stake in Eurasian Natural Resources Corporation PLC ("ENRC") from the Government of Kazakhstan (the "Government"), in exchange for the issue to the Government of 80,286,050 new ordinary shares in the Company, representing a 15% stake in the enlarged issued share capital of the Company, was approved by its shareholders.
Combined with its existing stake of 14.59% in ENRC acquired in October 2007, the Company will hold a 22.24% stake in ENRC and the Government will hold a 15% stake in the Company on completion of the acquisition.
The acquisition remains conditional on the receipt of the required regulatory approvals from the Kazakh authorities which are expected to be received shortly.
Copies of the ordinary resolution passed by the shareholders of the Company at its General Meeting have been submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:
Financial Services Authority
25 The North Colonnade
London E14 5HS
Tel. No. (0) 20 7066 1000
Full details of the proxy votes received will shortly be available at www.kazakhmys.com
020 7901 7831
This information is provided by RNS
The company news service from the London Stock Exchange