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Vedanta Resources (VED)

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Wednesday 05 May, 2010

Vedanta Resources

Transaction in Own Shares

RNS Number : 4144L
Vedanta Resources PLC
05 May 2010
 



 

Vedanta Resources PLC (the 'Company')

 

Transaction in Own Shares

 

Further to its announcement on 1 April 2010, Vedanta Resources plc ("Vedanta") announces that it has been advised that on 5 May 2010 Vedanta Jersey Investment Limited ("VJIL") on behalf of Gorey Investments Limited ("Gorey") purchased 353,359 ordinary shares of US$0.10 each in Vedanta at an average price per share of 2,398.66 pence (minimum price of 2,327,00 pence and maximum price of 2,449.00 pence), through the share buy-back programme (the "Buy-back Programme") referred to in the announcement of 1 April 2010. 

 

The purchase represents approximately 0.12% per cent. of Vedanta's issued ordinary share capital and brings the total number of shares held by Gorey to 1,619,928 ordinary shares in Vedanta, or 0.56% per cent. of Vedanta's issued ordinary share capital.  Such shares will be treated in the consolidated accounts of Vedanta as treasury shares, available for purchase by Vedanta itself (subject to shareholder approval and availability of sufficient distributable reserves), as consideration for future acquisitions or sale to third parties to raise additional capital if and when desirable. 

 

As previously announced, Gorey has agreed that it will not exercise voting rights in respect of Vedanta shares held by it under these arrangements. 

 

Following the above purchase, 24,122,411 ordinary shares are treated as held as treasury shares. The total number of ordinary shares in issue (excluding shares treated held as treasury shares) is 271,978,835.

 

Gorey is a Jersey-registered entity, owned by a charitable trust and independent of the Vedanta group.  Under the Buy-back Programme, Vedanta has the authority to purchase up to 10 per cent. of its ordinary shares in issue. 

 


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