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Vedanta Resources (VED)

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Friday 12 June, 2009

Vedanta Resources

Preferential Allotment by Ses

RNS Number : 7976T
Vedanta Resources PLC
12 June 2009
 



12 June 2009


Preferential Allotment by Sesa Goa


Vedanta Resources plc ('Vedanta' or the 'Company') announces that it has made an offer to  subscribe to the equity share capital (the 'Preferential Offer') of its majority controlled subsidiary, Sesa Goa Limited ('Sesa').  Under this offer, Vedanta will subscribe to an additional 33,274,000 equity shares, face value of Rs. One each.  The total cash outlay to subscribe to the Preferential Offer is estimated to be US$120 million.  Post the completion of this transaction, Vedanta's total shareholding in Sesa will increase from 53.1% to 55.0%.  The transaction is subject to the approval of Sesa's shareholders and is expected to be completed by July 2009.


For further information, please contact:


Sumanth Cidambi

Director - Investor Relations

Vedanta Resources plc


sumanth.cidambi@vedanta.co.in

Tel: +44 20 7659 4732 / +91 22 6646 1531


Faeth Birch

Robin Walker

Finsbury



Tel:  +44 20 7251 3801


Disclaimer 


This press release contains 'forward-looking statements' - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'should' or 'will.' Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.



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