Merger Timing Update
18 January 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
NEWS RELEASE
Glencore International plc
Merger Timing Update
On 10 December 2012, Glencore and Xstrata announced the extension of the long stop date for the Merger from 31 December 2012 to 31 January 2013, due to the ongoing regulatory processes in South Africa and China. As those processes remain ongoing Glencore and Xstrata have agreed, with the consent of the Panel, to extend further the long stop date for the Merger to 15 March 2013.
As Glencore is scheduled to release its preliminary results for the year ended 31 December 2012 (the "Preliminary Results") on 5 March 2013, the parties have agreed the new long stop date in order to give them the flexibility to complete the Merger after the release of the Preliminary Results should they determine that to be appropriate taking into account the status of the regulatory processes in South Africa and China.
Completion of the Merger remains conditional upon the receipt of the outstanding regulatory approvals in China and South Africa and completion of the Xstrata court process as further set out in the New Scheme Document in connection with the Merger published by Xstrata on 25 October 2012 and Glencore giving effect to the commitments required by the European Commission.
For enquiries about Glencore, please contact:
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Paul Smith (Investors) t: +41 (0)41 709 2487 m: +41 (0)79 947 1348 |
Charles Watenphul (Media) t: +41 (0)41 709 2462 m:+41 (0)79 904 3320 |
John Burton (Company Secretary) t: +41 (0)41 709 2619 m: +41 (0)79 944 5434 |
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Elisa Morniroli (Investors) t: +41 (0)41 709 2818 m: +41 (0)79 833 0508 |
Finsbury (Media) Guy Lamming Dorothy Burwell t: +44 (0)20 7251 3801 |
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Publication on Website
A copy of this announcement will be available on Glencore's website (www.glencore.com) by no later than 12 noon (London time) on the business day following the date of this announcement.
You may request a hard copy of this announcement, free of charge, by contacting the Company Secretary of Glencore, John Burton, at john.burton@glencore.com. You may also request that all future documents, announcements and information to be sent to you in relation to the Merger should be in hard copy form.
This information is provided by RNS
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