South32 Limited South32 completes acquisition of Arizona Mining (5740X)
13 August 2018 - 4:30PM
UK Regulatory
TIDMS32
RNS Number : 5740X
South32 Limited
13 August 2018
11 August 2018
South32 Limited
(Incorporated in Australia under the Corporations Act 2001
(Cth))
(ACN 093 732 597)
ASX / LSE / JSE Share Code: S32
ISIN: AU000000S320
SOUTH32 COMPLETES ACQUISITION OF ARIZONA MINING
South32 Limited (ASX, JSE, LSE: S32; ADR: SOUHY) (South32) is
pleased to announce that it has completed the acquisition of the
remaining 83 per cent of issued and outstanding shares of Arizona
Mining that it did not already own via a plan of arrangement. Under
the terms of the transaction, former shareholders of Arizona Mining
were entitled to C$6.20 in cash for each common share held. The
transaction consideration of US$1.3 billion was funded from cash on
hand.
With the acquisition now complete, Arizona Mining was delisted
from the Toronto Stock Exchange (TSX) on 10 August 2018. Arizona
Mining will also cease to be a reporting issuer under applicable
Canadian securities laws.
South32 Chief Executive Officer, Graham Kerr said: "The
acquisition of Arizona Mining adds to our portfolio one of the most
exciting base metal projects in the industry. Our deep
understanding of the high-grade Hermosa project and surrounding
land package, together with our extensive experience at Cannington,
positions us well to bring the project to development and deliver
significant value to our shareholders."
Work to enhance the design and development of the Hermosa
Project will begin in the coming weeks. This will include
optimising studies and the commencement of the exploration decline
which will allow drilling to test for extensions and further
enhance our understanding of the existing high-grade resource([1])
.
Shareholders who have questions or require assistance with
submitting their Arizona Mining shares in connection with the
transaction may direct their questions to Computershare Investor
Services Inc., which is acting as depositary in connection with the
transaction, by telephone at 1 (800) 564-6253 or by email at
corporateactions@computershare.com.
For more information on the transaction, please see the news
releases issued by Arizona Mining on 17 June 2018 and 3 July 2018,
along with Arizona Mining's management information circular dated 6
July 2018 prepared in connection with the transaction, all of which
are available under Arizona Mining's profile at www.sedar.com.
About South32
South32 is a globally diversified mining and metals company. We
produce bauxite, alumina, aluminium, energy and metallurgical coal,
manganese, nickel, silver, lead and zinc at our operations in
Australia, Southern Africa and South America. We also have a well
advanced zinc, lead and silver exploration opportunity in North
America and several partnerships with junior explorers with a focus
on base metals. Our purpose is to make a difference by developing
natural resources, improving people's lives now and for generations
to come, and to be trusted by our owners and partners to realise
the potential of their resources.
Further Information
Investor Relations
Alex Volante Tom Gallop
T +61 8 9324 9029 T +61 8 9324 9030
M +61 403 328 408 M +61 439 353 948
E Alex.Volante@south32.net E Tom.Gallop@south32.net
Media Relations
James Clothier Jenny White
T +61 8 9324 9697 T +44 20 7798 1773
M +61 413 391 031 M +44 7900 046 758
E James.Clothier@south32.net E Jenny.White@south32.net
Further information on South32 can be found at
www.south32.net.
JSE Sponsor: UBS South Africa (Pty) Ltd
11 August 2018
[1] The Hermosa project resource is a foreign estimate of a
resource, not in accordance with the requirements of JORC. Refer to
ASX release "South32 to acquire Arizona Mining in agreed all cash
offer" dated 18 June 2018 for further information.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQFKNDKABKKCFD
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