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GLN - Glencore completes acquisition of Caracal
GLENCORE XSTRATA PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
Baar, Switzerland Calgary, Alberta
July 8, 2014
Glencore completes acquisition of Caracal
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 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 £5.50 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) 41 709 2487 t: +41 (0) 41 709 2880 t: +41 (0) 41 709 2818
m: +41 (0) 79 947 1348 m: +41 (0) 79 737 5642 m: +41 (0) 79 833 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.
SPONSOR
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
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