Vedanta Resources PLC

Published : June 09th, 2015

Response to press speculation

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Response to press speculation

Vedanta Resources plc

16 Berkeley Street

London W1J 8DZ

Tel: +44 (0) 20 7499 5900

Response to press speculation

9 June 2015

Vedanta Resources Plc ("Vedanta", together with its subsidiaries, the "Group") and Vedanta Limited note the recent press speculation regarding the potential merger of Cairn India Limited ("CIL") and Vedanta Limited.

Vedanta is committed to maintaining its premium listing on the London Stock Exchange.

Vedanta will make appropriate disclosures as and when required.

Regulatory Considerations

Should a transaction with CIL proceed, it could potentially be considered a reverse takeover, under Listing Rule L.R. 5.6.4 (1). In addition, in line with the Group's stated strategy to continue to simplify the Group structure, the Group continues to evaluate a transaction with the Government of India ("GoI") in relation to their minority stakes in Hindustan Zinc Limited ("HZL") and Bharat Aluminium Company ("BALCO").

If any of these transactions were to occur, they will in aggregate, as well as potentially the individual transactions between Vedanta Limited and each of HZL and Cairn India on a standalone basis, be considered reverse takeovers, under Listing Rule L.R. 5.6.4 (1).

Since Vedanta currently discloses detailed financial as well as operational information on each of Cairn India and HZL, as well as certain financial and operational information on BALCO, in its Annual Reports and periodic reporting (see references below), the directors of Vedanta consider that the publicly available information, specifically the publicly available information referenced in this announcement, contains sufficient information about the businesses to be potentially acquired, to provide a properly informed basis for assessing its financial position.

Detailed financial and non-financial, operational information on each of Cairn India and HZL covering the last three years can be found in the Vedanta plc 2015 Full Year results press release and results presentation as well as in the 2014 and 2013 Annual Reports. For 2015, detailed financial and non-financial, operational information can be found in the Full Year results press release on pages 24-26 (Cairn India) and pages 26-28 (HZL). For 2014 and 2013, detailed financial information can be found in the 2014 Annual Report, on pages 40-47, 143-144 and 199-201 with detailed non-financial, operational information on pages 55-57 (Cairn India) and pages 49-51 (HZL). For 2013 and 2012, the same level of detailed financial information can be found in the 2013 Annual Report, on pages 40-49, 131-134 and 186-188 with detailed non-financial, operational information on pages 54-57 (Cairn India) and pages 50-53 (HZL) of the 2013 Annual Report. Further, a Five Year historical financial and operational summary for each of the Group, Cairn India, and HZL can be found on pages 200-206 of the 2014 Annual Report.

For BALCO, certain financial information can be found in the 2014 Annual Report, on pages 48, 70-71 and 74, with operational information available on pages 70-11 and 300. Additionally, annual financial and operational information on BALCO can be found in the FY2015 results presentation on pages 26, 31, 33 and 34, the FY2014 results presentation on pages 33-35, 38 and 42 and the FY2013 Annual Results presentation on pages 31-34, 37 and 41.

The Vedanta plc Annual Reports and results referenced above can be found at: www.vedantaresources.com/investor-relations/results-and-reports/annual-interim-reports.aspx. The Vedanta plc 2014 Annual Report can be found at www.vedantaresources.com/media/164998/VedantaAR2014.pdf and the 2013 Annual Report can be found at www.vedantaresources.com/media/126374/vedantafy2013ar.pdf. The Vedanta plc FY 2015 Preliminary Results presentation can be found at http://www.vedantaresources.com/media/174626/ved_fy2015_results_presentation_-_final.pdf and the press release at http://www.vedantaresources.com/media/174623/prelim___14_may_fy15.pdf. The FY2014 and FY2013 results presentations can be found at www.vedantaresources.com/media/163209/2014-05-15_VED_FY2014_Prelims_Presentation_Final_Website.pdf and www.vedantaresources.com/media/76572/vedantafy2013preliminaryresultspresentation.pdf.

Pursuant to L.R. 5.6.5 (1), L.R. 5.6.5 (2) and (3) respectively, the Group confirms that if the transactions were to occur, it will not change the strategic direction or the nature of the Group's business, the Group's business will not be part of a different industry sector following completion of the transactions and the Group's business will not deal with fundamentally different suppliers and end-users as a result of the transactions. There will be no change in board or voting control of Vedanta as a result of the transactions, if occurred.

For further information, please contact:

Communications

Finsbury

Roma Balwani

President - Group Communications,

Sustainability

and CSR

Tel: +91 22 6646 1000

[email protected]

Daniela Fleischmann

Tel: +44 20 7251 3801

Investors


Ashwin Bajaj

Director - Investor Relations

Anshu Goel

Vice President - Investor Relations

Radhika Arora

Associate General Manager - Investor Relations

Tel: +44 20 7659 4732

Tel: +91 22 6646 1531

[email protected]



About Vedanta Resources

Vedanta Resources Plc ("Vedanta") is a London-listed diversified global resources company . The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland, Liberia, Australia and Sri Lanka. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information, please visit www.vedantaresources.com.

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.


This information is provided by RNS
The company news service from the London Stock Exchange
ENDSPCLIFSDREIAIIE
Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | India | Ireland | Liberia | Namibia | South Africa | Zambia | All
Gold and Silver Prices for these countries : Australia | India | Ireland | Liberia | Namibia | South Africa | Zambia | All

Vedanta Resources PLC

PRODUCER
CODE : VED.L
ISIN : GB0033277061
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Vedanta Res. is a zinc and lead producing company based in United kingdom.

Vedanta Res. produces zinc, lead, bauxite, copper and gold in Armenia, in Australia, in India and in Zambia, develops lead and zinc in India.

Its main assets in production are KONKOLA in Zambia, MT LYELL in Australia, ZOD in Armenia and MAINPAT, RAMPURA AGUCHA, RAJPURA DARIBA, ZAWAR and KAYAR in India, its main asset in development is SINDESAR KHURD in India and its main exploration property is BAMNIA KALAN in India.

Vedanta Res. is listed in Germany and in United Kingdom. Its market capitalisation is GBX 227.1 billions as of today (€ 195.8 billions).

Its stock quote reached its highest recent level on February 03, 2006 at GBX 999.98, and its lowest recent point on September 28, 2018 at GBX 832.60.

Vedanta Res. has 272 776 398 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Vedanta Resources PLC
6/1/2019Production stalled at Vedanta Resources' Konkola Copper Mine...
9/3/2018India's Anil Agarwal succeeds with Vedanta Resources buyout
4/12/2018Vedanta Resources expects supply constraints to sustain zinc...
Nominations of Vedanta Resources PLC
8/8/2016Board Committee Changes
Project news of Vedanta Resources PLC
10/26/2015Notifications of major interests in shares
Corporate news of Vedanta Resources PLC
8/30/2016Update and Aluminium and Power
8/19/2016Mailing of Circular and Notice of General Meeting
8/8/2016Result of 2016 Annual General Meeting
8/6/2016Result of AGM 2016
8/1/2016Vedanta Resources announce Q1 FY2017 results
8/1/2016Q1 FY2017 Production Release
7/29/2016Total Voting Rights Announcement
7/29/2016Vedanta Ltd announces Q1 FY2017 results
7/22/2016Vedanta lts Cairn: Revised merger terms release
7/22/2016Vedanta ltd. Cairn: Revised merger term
7/22/2016Vedanta Ltd and Cairn India Revised merger terms
7/22/2016Vedanta Limited and Cairn India Limited Revised Terms for Me...
7/14/2016Repayment of Convertible Bonds
7/13/2016Vedanta Limited Awarded for Environment Management at the Go...
2/1/2016Bond Buyback Tender Offer Launch
2/1/2016Q3 Production Release - Correction
1/30/2016Vedanta Conducts Safety Workshop to Drive Awareness
1/29/2016Block Listing
1/29/2016Q3 Production Release
1/28/2016Vedanta’s Value Addition Business Gets recommendation of EAC...
1/28/2016Vedanta Limited announces Q3 Results
1/22/2016Zambia's 2015 copper output up despite power woes, weak pric...
1/21/2016Hindustan Zinc announces Q3 results
1/18/2016[$$] BP outperforms market on broker upgrade
1/4/2016Director/PDMR Shareholding
12/31/2015Mr. Anil Agarwal, Chairman, Vedanta, tweeted - ‘I wish you a...
12/22/2015Press Statement- Vedanta at HT Leadership Summit 2015
12/22/2015HIV AIDS awareness campaigns and prevention programmes at Ve...
12/22/2015Vedanta Limited Wins ‘National Energy Conservation Award-201...
12/18/2015Vedanta Limited Wins ‘National Energy Conservation Award-201...
12/17/2015Vedanta’s Sterlite Copper comes to the rescue of Tamil Nadu ...
12/16/2015Vedanta’s BALCO wins IMEA 2015 Gold Award in ‘Mega Industrie...
11/30/2015Director/PDMR shareholding
11/30/2015Total Voting Rights
11/27/2015Director/PDMR shareholding
11/26/2015Is Vedanta Ltd (ADR) (VEDL) Going to Burn These Hedge Funds?
11/24/2015Director/PDMR Shareholding
11/23/2015Director/PDMR shareholding
11/4/2015Edited Transcript of VED.L earnings conference call or prese...
11/4/2015Vedanta drops dividend after profit slide
11/4/2015Interim Results
11/4/2015Release- Interim Results for the Six Months ended 30 Septemb...
11/4/2015Presentation- Interim Results for the Six Months ended 30 Se...
10/26/2015Vedanta wins the ‘Excellence in Corporate Governance’ Award ...
10/21/2015Cairn announces Q2 results
10/21/2015Cairn India-Results for the Second Quarter ended 30th Sep, 2...
10/20/2015Clarification on media speculation
10/19/2015Hindustan Zinc announces Q2 results
10/19/2015Vedanta exports first shipment of Iron after resuming operat...
10/15/2015Notice of FY2016 Interim Results
10/13/2015Mr Anil Agarwal Chairman Vedanta tweeted about Vedanta's Fro...
10/12/2015Vedanta’s Sesa Goa assists Educational Excellence
10/1/2015Block Listing Return
9/30/2015Total Voting Rights
9/29/2015Notice of Q2 Production Release
9/28/2015Vedanta wins “Best Practices in Developing Top Leaders” Awar...
9/23/2015Mr Anil Agarwal, Chairman, Vedanta tweets on 4000 Anganwadi ...
9/21/2015Notifications of Major Interests in Shares
9/21/2015Ministry for Women and Child Development and Vedanta sign an...
9/21/2015Appointment of Mr Duggal as CEO of Hindustan Zinc
9/16/2015Former Anglo American CEO Cynthia Carroll joins Vedanta Reso...
9/16/2015Appointment of Cynthia Carroll
9/15/2015Update on Merger of Cairn India and Vedanta Ltd
9/11/2015Vedanta celebrates World Literacy Week in Tuticorin
9/3/2015Director/PDMR shareholding
8/28/2015Total Voting Rights
8/28/2015Lack of Bauxite from Odisha forces Vedanta to initiate closu...
8/20/2015Vedanta revives Computer Literacy Program in Sanquelim
8/18/2015Vedanta Corporate Announcement
8/17/2015Vedanta Limited Salutes PM’s Vision To Foster Entrepreneursh...
8/11/2015Mr. Anil Agarwal, Chairman, Vedanta, tweeted: ‘We resumed ir...
8/10/2015Director/PDMR shareholding
8/10/2015Major Shareholding notification
8/10/2015Commencement of Iron Ore operations at Goa
8/6/2015Vedanta awards scholarships to students inspired by former p...
8/4/2015Chairman, Mr. Anil Agarwal addressed the Vedanta Resources P...
8/3/2015Result of AGM
8/3/2015Vedanta retreats on worries over risk of breaching loan cove...
8/3/2015AGM - Chairman's Statement
8/3/2015Chairman's Statement
8/3/2015Vedanta reports Sustainable Development performance as per G...
7/31/2015Total Voting Rights
7/31/2015Vedanta plc Q1 Production Release
7/31/2015Q1 Production Release
7/3/2015FY2015 Annual Report
7/3/2015Notice of AGM
7/2/2015Vedanta Resources Plc hosts first Sustainable Development Da...
6/22/2015Director/PDMR Shareholding
6/19/2015Director/PDMR Shareholding
6/18/2015Director/PDMR Shareholding
6/17/2015Director/PDMR Shareholding
6/17/2015Mr. Anil Agarwal was conferred the prestigious ‘Dhaturatna’ ...
6/16/2015Director/PDMR Shareholding
6/16/2015Edited Transcript of VEDL.NSE M&A conference call or present...
6/16/2015Edited Transcript of VEDL.NSE M&A conference call or present...
6/14/2015Vedanta Resources confirms controversial Cairn India merger ...
6/9/2015Vedanta: less is more
6/9/2015Anil Agarwal plans merger of Vedanta units to reduce debt
5/14/2015Vedanta hit by $6.6bn impairment on oil and gas assets
4/24/2015Notice of Preliminary Results for the year ended 31st March,...
4/24/2015Notice of FY2015 Results
4/23/2015Cairn India announces Q4 results
4/22/2015Sesa Sterlite Limited renamed Vedanta Limited
4/20/2015HZL announces Q4 results
4/20/2015Vedanta wins four awards at IndiaCSR
4/16/2015Vedanta appoints Group Counsel
4/15/2015Vedanta appoints Mukesh Bhavnani as Group Legal Counsel & Ch...
4/14/2015Mr. Anil Agarwal, Chairman, Vedanta Group, tweeted, “Vedanta...
4/10/2015Q4 Production Release
4/9/2015Vedanta committed to a Healthy India
4/7/2015Notice of FY2015 Production Release
4/7/2015Cairn India files writ petition against tax demand
4/1/2015Block Listing Interim Review
3/31/2015Total Voting Rights
3/27/2015Director/PDMR Shareholding
3/27/2015Vedanta serves notice of claim
3/25/2015Vedanta Pledges support for Women Equality
3/24/2015Vedanta recycles 34 million cubic metres of water by January...
3/20/2015Vedanta Resources rallies on tax claim denial
3/20/2015Vedanta Resources plc Capital Markets Day Press Release
3/20/2015Vedanta Capital Markets Day
3/19/2015Director/PDMR Shareholding
6/12/2009Pricing and size increase of Vedanta Convertible bond to $1....
11/6/2008Interim Results announcement
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
LSE (VED.L)FRANKFURT (VR9.F)
832.60+0.87%9.34+0.02%
LSE
GBX 832.60
09/28 16:35 7.20
0.87%
Prev close Open
825.40 824.60
Low High
824.60 838.00
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  832.60 -%
Volume 1 month var.
149,454 -%
24hGold TrendPower© : 22
Produces Copper - Gold - Lead - Zinc
Develops Lead - Zinc
Explores for Lead - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/20/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.65-0.52%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.04+1.38%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-2.53%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.52+6.78%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.05+2.62%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+2.13%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+7.89%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.90+1.60%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.43-0.46%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :