TIDMGLEN TIDMCRCL
RNS Number : 7638L
Glencore PLC
08 July 2014
Baar, Switzerland Calgary, Alberta
July 8, 2014
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
Glencore completes acquisition of Caracal
Glencore plc ("Glencore") and Caracal Energy Inc. ("Caracal")
announced today that Glencore has completed the acquisition of
Caracal.
Alex Beard, Head of Oil of Glencore, said, "Today's completion
of our acquisition of Caracal marks a natural progression in the
development of Glencore Oil's exploration and production portfolio.
Caracal's expertise and knowledge of operating in Chad will
strengthen our growing African oil business. The Chad asset brings
with it a very exciting programme of development and exploration
and we look forward to the next step of unlocking the potential of
the Doba and Doseo basins."
Delisting of shares from the London Stock Exchange
Glencore and Caracal further announce that following an
application by Caracal to the UK Listing Authority, the listing of
Caracal's common shares on the Official List (the "Shares") are
expected to be suspended with immediate effect and will be
cancelled with effect from 8.00 a.m. (London time) on July 9, 2014.
The Shares are expected to be suspended from trading with immediate
effect and will cease to be admitted to trading on the Main Market
of the London Stock Exchange with effect from the same time.
Information for shareholders and DI Holders
Shareholders will be entitled to receive payment of GBP5.50 per
share in cash (the "Consideration") following the effective date of
the Arrangement. Shareholders will receive U.S. dollars unless an
election is made to receive payment in Canadian dollars or pounds
sterling.
Registered shareholders are required to submit a Letter of
Transmittal to Computershare Trust Company of Canada, together with
the certificate(s) representing shares of Caracal and all other
required documents. For a replacement Letter of Transmittal,
contact Computershare Trust Company of Canada toll free at
1-800-564-6253. Registered shareholders must make their currency
election in the Letter of Transmittal by no later than 5:00 p.m.
(Toronto Time) on July 9, 2014. Non-registered shareholders should
contact their broker, trustee, financial institution, custodian,
nominee or other intermediary to confirm matters relating to
payment of the Consideration, or if they wish to elect to receive
Canadian dollars or pounds sterling.
Holders of depositary interests ("DI Holders") can elect to
receive payment in U.S. dollars. If no election is made, DI Holders
will be deemed to have elected to receive payment in pounds
sterling. DI Holders must submit their currency election through
the CREST system by no later than 5:00 p.m. (London Time) on July
9, 2014.
The exchange rate that will be used to convert the Consideration
from pounds sterling into Canadian or U.S. dollars, as the case may
be, will be the prevailing market rate on the date the funds are
converted, which is expected to be on or about July 9, 2014. The
risk of any fluctuations in such rates, including risks relating to
the particular date and time at which funds are converted, will be
solely borne by the shareholder or DI Holder, as the case may
be.
For further information regarding the election of currency for
the Consideration, please see the management information circular
and proxy statement dated May 9, 2014, which is available at
www.sedar.com.
For further information please contact:
Investor:
Paul Smith Martin Fewings Elisa Morniroli
t: +41 (0) 41 t: +41 (0) 41 t: +41 (0) 41
709 2487 709 2880 709 2818
m: +41 (0) 79 m: +41 (0) 79 m: +41 (0) 79
947 1348 737 5642 833 0508
e: paul.smith@glencore.com e: martin.fewings@glencore.com e: elisa.morniroli@glencore.com
Media:
Charles Watenphul
t: +41 (0) 41
709 2462
m: +41 (0) 79
904 3320
e: charles.watenphul@glencore.com
About Glencore
Glencore is one of the world's largest global diversified
natural resource companies. As a leading integrated producer and
marketer of commodities with a well-balanced portfolio of diverse
industrial assets, we are strongly positioned to capture value at
every stage of the supply chain, from sourcing materials deep
underground to delivering products to an international customer
base.
Glencore's industrial and marketing activities are supported by
a global network of more than 90 offices located in over 50
countries. Our diversified operations comprise over 150 mining and
metallurgical sites, offshore oil production assets, farms and
agricultural facilities. We employ approximately 200,000 people,
including contractors.
This information is provided by RNS
The company news service from the London Stock Exchange
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