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Vedanta Resources (VED)

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Monday 13 December, 2010

Vedanta Resources

Shareholder approval - Cairn

RNS Number : 8698X
Vedanta Resources PLC
13 December 2010
 



                                         13 December 2010

 

Vedanta Group announces shareholder approval for the purchase of 51% - 60% interest in Cairn India.

 

Vedanta Resources plc ("Vedanta") announces that at its General Meeting held today, the proposed acquisition of a 51% - 60% interest in Cairn India Limited from Cairn Energy plc was approved by its shareholders.

 

The acquisition remains conditional on the receipt of the required regulatory approvals and consents from the Indian authorities and completion of the acquisition is expected to occur in Q2 2011.

 

A copy of the ordinary resolution passed by the shareholders of Vedanta at its General Meeting will shortly be submitted to the National Storage Mechanism and will be available for inspection at: www.hemscott.com/nsm.

 

Full details of the proxy votes received will shortly be available at www.vedantaresources.com

 

For further information, please contact

 

Vedanta

Ashwin Bajaj

Vice President, Investor Relations

+44 20 7659 4732 / +91 22 6646 1531

investorrelations@vedanta.co.in

 

J.P. Morgan Cazenove

Adam Brett

Joe Seifert

Daniel Young

Charles Pretzlik

 

Tel: +44 (0) 20 7588 2828

 

Morgan Stanley & Co. Limited

Alastair Cochran

Andrew Foster

Peter Bacchus

Philip Keith

 

Tel: +44 (0) 20 7425 8000

 

Media:

Finsbury Limited

Faeth Birch

Gordon Simpson

 

Tel: +44 (0) 207 251 3801

 

 

About Vedanta Resources plc

Vedanta Resources plc ("Vedanta") is a London listed FTSE 100 diversified metals and mining major. The group produces aluminium, copper, zinc, lead, iron ore and commercial energy. Vedanta has operations in India, Zambia and Australia and a strong organic growth pipeline of projects. With an empowered talent pool of 30,000 employees globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information visit www.vedantaresources.com.

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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