Rio Tinto PLC
20 September 2006
Rio Tinto's shares in Ashton Mining of Canada taken up by Stornoway Diamond
Rio Tinto has been advised by Stornoway Diamond Corporation ('Stornoway') that
Rio Tinto's shares in Ashton Mining of Canada Inc. ('Ashton') have been taken up
by Stornoway under its take-over bid for Ashton. Rio Tinto (through both Ashton
Canada Pty. Limited ('ACPL'), an indirect, wholly-owned subsidiary of Rio Tinto
Limited, and QIT-Fer et Titane Inc. ('QIT'), an indirect, wholly-owned
subsidiary of Rio Tinto plc), had held 49,037,982 common shares of Ashton,
representing approximately 51.7% of Ashton's issued and outstanding common
shares.
Under the Stornoway bid, ACPL and QIT will receive in exchange for their Ashton
shares cash totaling approximately C$29.6 million (approximately US$26.1
million) and approximately 25.6 million Stornoway common shares. Rio Tinto has
been advised by Stornoway that upon payment for all shares taken up on September
18, 2006 under the bid and completion of certain related transactions by
Stornoway, Rio Tinto will hold approximately 17.7% of Stornoway's issued and
outstanding common shares.
Rio Tinto has no present intention of acquiring other securities of Stornoway or
of disposing of any of the securities of Stornoway which it holds. Depending
upon its evaluation of Stornoway's business, prospects and financial condition,
the market for Stornoway's securities, general economic conditions and other
factors, Rio Tinto may acquire additional securities of Stornoway or sell some
or all of the securities it holds.
For further information, please contact:
LONDON AUSTRALIA
Media Relations Media Relations
Nick Cobban Ian Head
Office: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620
Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101
Investor Relations Investor Relations
Nigel Jones Dave Skinner
Office: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628
Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309
David Ovington Susie Creswell
Office: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639
Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 418 933 792
Website: www.riotinto.com
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