RNS Number : 8095B
24 February 2011
Vallar PLC ("Vallar" or the "Company")
24 February 2011
For immediate release
Publication of Prospectus
Vallar is pleased to announce the publication of a prospectus (the "Prospectus") in connection with the acquisition of holdings in PT Bumi Resources Tbk ("Bumi") and PT Berau Coal Energy Tbk ("Berau") (the "Acquisition") as set out in its announcement of 16 November 2010.
A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do. Copies of the Prospectus will also be available from the Company's registered office.
The Bumi Transaction is expected to close in the week commencing 28 February 2011. At the same time, Vallar will assume control of Berau. PT Bukit Mutiara is expected to transfer title to, and registered ownership of, the Berau Shares to the Vallar group on or around 8 April 2011 after the expiry of the BCE Lock-up.
Commenting on today's announcement, Nathaniel Rothschild, Co-chairman of Vallar, said:
"Today's announcement represents an important milestone towards our objective of creating a London‑listed Indonesian coal champion and we are extremely pleased by the progress that has been made towards integrating Vallar, Bumi and Berau since this groundbreaking transaction was announced in November."
Capitalised terms not otherwise defined in this announcement have the meanings given to them in the Prospectus.
For further information, please contact:
Vallar: 01534 728 235
J.P. Morgan Cazenove: 020 7588 2828
Finsbury: 020 7251 3801
This announcement has been issued by and is the sole responsibility of the Company.
This announcement is an advertisement and not a prospectus and you should not subscribe for or purchase any shares referred to in this announcement except on the basis of information in the prospectus (the "Prospectus") published by Vallar today in connection with the admission and proposed admission of certain its ordinary shares to the standard listing segment of the Official List of the Financial Services Authority and to trading on London Stock Exchange plc's as more particularly described in the Prospectus. Copies of the Prospectus will be available for inspection at the Company's registered office at 12 Castle Street, St. Helier, Jersey JE2 3RT.
J.P. Morgan plc (which conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove"), which is authorised and regulated by the Financial Services Authority, is acting for the Company in connection with the Acquisition and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of J.P. Morgan Cazenove.
This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of, any securities.
The securities of the Company referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless they are registered with the U.S. Securities and Exchange Commission or an exemption from the registration requirements of the Securities Act is available.
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
This announcement does not constitute or form part of any offer or invitation to purchase, otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any solicitation of any offer to sell, otherwise dispose of, issue, purchase, otherwise acquire or subscribe for, any security, therefore this announcement does not constitute a public offering in Indonesia under Law Number 8 of 1995 regarding Capital Market.
This information is provided by RNS
The company news service from the London Stock Exchange