Re WMC Resources
BHP Billiton Limited
04 April 2005
BHP Billiton Limited is issuing this announcement to fulfil disclosure
obligations arising from its secondary listing on the London Stock Exchange.
The text of this release is identical to that issued by BHP Billiton
Plc earlier.
Date 4 April 2005
Number 14/05
BHP BILLITON ANNNOUNCES FOREIGN INVESTMENT REVIEW BOARD APPROVAL OF BID FOR WMC
RESOURCES LTD
BHP Billiton advises that the Australian Treasurer has confirmed that there are
no objections under the Australian Government's foreign investment policy to BHP
Billiton's acquisition of WMC Resources Ltd. A copy of the Treasurer's
announcement is attached.
The Treasurer's confirmation is subject to certain conditions which BHP Billiton
has agreed to observe. As the conditions are acceptable to BHP Billiton, BHP
Billiton will free its offer of the condition set out in clause 5.1(b) of the
Bidder's Statement. This is the second condition to have been removed.
BHP Billiton Chief Executive Officer, Chip Goodyear, welcomed the announcement
by the Treasurer of the Government's approval of its bid.
The offer is $7.85 for each WMC Resources Ltd share and the closing date* of the
offer is 7.30 pm (Melbourne time) on 6 May 2005.
*This date is indicative only and may change as permitted by the Australian
Corporations Act 2001 (Cth)
Further information on BHP Billiton can be found on our Internet site: http://
www.bhpbilliton.com
Australia United Kingdom
Jane Belcher, Investor Relations Mark Lidiard, Investor & Media
Relations
Tel: +61 3 9609 3952 Mobile: +61 417 Tel: +44 20 7802 4156
031 653
email: Jane.H.Belcher@bhpbilliton.com email: Mark.Lidiard@bhpbilliton.com
Tania Price, Media Relations Ariane Gentil, Media Relations
Tel: +61 3 9609 3815 Mobile: +61 419 Tel: +44 20 7802 4177
152 780
email: Tania.Price@bhpbilliton.com email: Ariane.Gentil@bhpbilliton.com
United States South Africa
Michael Campbell, Investor & Media
Relations
Tel: +1 713 599 6100 or +44 20 7802 Tel: +27 11 376 3360 Mobile: +27 82 458
4031 2587
email: Mark.Lidiard@bhpbilliton.com email:
Michael.J.Campbell@bhpbilliton.com
Further Information for U.S. holders
BHP Billiton has filed the Bidder's Statement with the U.S. Securities and
Exchange Commission (SEC) under cover of Form CB. Investors and holders of WMC
Resources securities are strongly advised to read the Bidder's Statement and any
other relevant documents filed with the SEC, as well as any amendments and
supplements to those documents, because they will contain important information.
Investors and holders of WMC Resources securities may obtain free copies of the
informational document (when available), as well as other relevant documents
filed with the SEC, at the SEC's website at www.sec.gov. WMC Resources has
issued a target's statement in connection with the offer which investors and
holders of WMC Recourses securities are strongly advised to read.
This communication is for information purposes only. It shall not constitute an
offer to purchase, sell or exchange or the solicitation of an offer to purchase,
sell or exchange any securities of WMC Resources. The distribution of this
communication may, in some countries, be restricted by law or regulation.
Accordingly, persons who come into possession of this document should inform
themselves of and observe these restrictions.
NO. 025
Treasurer
www.treasurer.gov.au
FIRB: BHP BILLITON GROUP/WMC
Exercising powers under the Foreign Acquisitions and Takeovers Act 1975 (the
Act), I have decided that the Australian Government has no objection to the BHP
Billiton Group's (BHPB) proposed acquisition of all the issued shares of WMC
Resources Limited (WMC) provided that BHPB complies with the conditions set out
in Attachment A.
These conditions are in addition to previous conditions imposed under the Act,
all of which remain in place.
CANBERRA
4 April 2005
Contact: David Alexander
02 6277 7340
ATTACHMENT A
BHPB's undertakings, observance of which is a condition under Section 25 (1A) of
the Foreign Acquisitions and Takeovers Act 1975 (the Act):
1. BHPB will abide by all Australian federal and state laws and
regulations relating to the mining and export of uranium;
2. BHPB will undertake prior consultations with the Department of
Industry, Tourism and Resources on the terms of any and all marketing
arrangements it enters into with third parties in respect of uranium, which will
be subject to all regulatory requirements imposed as part of the Australian
Government's regulations and disclosure rules relating to uranium sales out of
Australia.
This condition will have effect indefinitely, subject to amendment of the Act or
any revocation or amendment by the Treasurer.
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