Rio Tinto takes up full entitlements in ERA rights issue, moving to over 98% ownership
19 Noviembre 2024 - 4:11AM
Business Wire
Rio Tinto notes the announcement today by Energy Resources of
Australia Ltd (ERA) in relation to the conclusion of its
entitlement offer and shortfall bookbuild, which raised A$766.5
million (before costs) to fund planned rehabilitation activities of
the Ranger Project Area.
As a result of Rio Tinto taking up its pro rata entitlements in
the entitlement offer and the level of participation by other ERA
shareholders, Rio Tinto will hold over 98% of ERA’s shares.
In accordance with Rio Tinto’s previously stated intentions
published in ERA’s entitlement offer information booklet, Rio Tinto
intends to proceed under Part 6A.2 of the Corporations Act 2001
(Cth) with the compulsory acquisition of all remaining ERA shares
that it does not currently own. It is proposing to do so at A$0.002
per ERA share, being the same price as the entitlement offer.
Rio Tinto Chief Executive, Australia, Kellie Parker said: “We
remain committed to the successful rehabilitation of the Ranger
Project Area to a standard that will establish an environment
similar to the adjacent Kakadu National Park, a World Heritage
site. Our utmost priority and commitment is to complete this
important rehabilitation project in a way that is consistent with
the wishes of the Mirarr People.
“Proceeding with compulsory acquisition, after participating for
our full entitlement in the ERA capital raising, underlines our
commitment to Ranger’s rehabilitation.”
If compulsory acquisition is completed, Rio Tinto has no
intention to invest in mining or development of the Jabiluka
deposit.
This announcement is authorised for release to the market by
Andy Hodges, Rio Tinto’s Group Company Secretary.
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