Lonmin Distribution - further information

RNS Number : 7744M

Glencore PLC

11 May 2015

 

Glencore plc

Baar, Switzerland

11 May, 2015

Lonmin Distribution - further information

At Glencore plc's ("Glencore" or the "Company") AGM on 7 May the resolution to approve a distribution in specie of the Company's holding in Lonmin plc ("Lonmin") was passed.

The entitlement is of approximately 1.07 Lonmin shares for every 100 Glencore shares held. All entitlements will be rounded down to the nearest whole number of Lonmin shares.

Details regarding the distribution are contained in the supplement sent to shareholders last month entitled "Further Details of the Lonmin Distribution". This document can be found at: http://www.glencore.com/assets/investors/doc/shareholder_centre/20150507-Supplement-concerning-distribution-in-specie.pdf

In particular this contains details on the following:

·    An explanation of who is regarded an Excluded Shareholder and is therefore able to participate in the Managed Sale (page 3). Shareholders who are not Excluded Shareholders and who hold 30,000 Glencore shares or more are not able to participate in the Managed Sale. 

·    The position for U.S. shareholders or those who are acting on behalf of a U.S. shareholder and how to obtain a U.S QIB Letter or U.S. Non-QIB Letter (pages 3 and 4)

·     Information regarding the conduct of the Managed Sale (page 8)

·     Information regarding how to complete the Form of Election (pages 10 and 11)

·     A summary guide for taxation purposes (Part III)

All capitalised terms in this announcement are defined in the supplement.

The Company has previously announced the following timetable for the distribution event and this remains unchanged:

All cross border movements of Glencore shares between the Jersey register and Hong Kong and South Africa branch registers halted	7 May 2015 to 15 May 2015 (inclusive)
Election entitlement stock line to be credited for CREST shareholders, CREST nominee holders (Jersey register) and CSDP (South Africa branch register)	9 a.m. CEST 11 May 2015
Ex-dividend date in respect of the Lonmin distribution (South Africa branch register)	11 May 2015
Ex-dividend date in respect of the Lonmin distribution (Hong Kong branch register)	13 May 2015
Ex-dividend date in respect of the Lonmin distribution (Jersey register)	14 May 2015
Last time for U.S. QIB and Non-QIB investor letters to be  received	1 p.m. CEST 15 May 2015
Last time for elections in respect of the Lonmin distribution to be received (where applicable)	1 p.m. CEST 15 May 2015
Lonmin distribution record date	7 p.m. CEST 15 May 2015
Transfer of Lonmin Shares to relevant Glencore shareholders (certificated Lonmin Shares distributed and CREST/CSDP accounts credited)	9 June 2015
Payment of net cash proceeds of sale to relevant Glencore shareholders	9 June 2015

For further information please contact:

Company secretarial:

John Burton t: [phone] m: [phone] e: [e-mail]

Nicola Barrett t: [phone] m: [phone] e: [e-mail]

Investor:

Paul Smith t: [phone] m: [phone] e: [e-mail]

Martin Fewings t: [phone] m: [phone] e: [e-mail]

Elisa Morniroli t: [phone] m: [phone] e: [e-mail]

Media:                                                                                                                                                        

Charles Watenphul t: [phone] m: [phone] e: [e-mail]

Pam Bell t: [phone] m: [phone] e: [e-mail]

www.glencore.com

 www.youtube.com/glencorevideos 

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 181,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

 

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