Proposed Adjournment of Shareholder
Meetings to Approve Merger with Glencore
Zug, 5 July 2012
Further to its announcement of 27 June
2012, Xstrata plc (“Xstrata”) has obtained the permission of the Court to
adjourn the Court Meeting originally convened for 10.00 a.m. on 12 July 2012 to
approve the Scheme of Arrangement in respect of the recommended all-share merger
of equals (the “Merger”) with Glencore International plc
(“Glencore”).
Xstrata sought permission from the
Court to adjourn the Court Meeting due to the proposed changes to the retention
award element of the Management Incentive Arrangements described in the Scheme
Circular, sent to shareholders on 31 May 2012, and the need, as a consequence of
those proposed changes, to convene a new Xstrata extraordinary general meeting
(the “New Xstrata General Meeting”).
For the same reasons, the Xstrata
extraordinary general meeting convened for 10.30 a.m. London time on 12 July is
proposed to be adjourned, subject to the passing of an ordinary resolution to
adjourn the meeting.
The new date for the adjourned Court
Meeting and the New Xstrata General Meeting will be contained in a Supplementary
Scheme Circular, expected to be posted to shareholders shortly.
If shareholders have any questions in
relation to submitting proxy forms or changing voting instructions for any of
these meetings, they should call the shareholder helpline between 8.30 a.m. and
5.30 p.m. (London time) Monday to Friday (except UK public holidays) on 0800 279
4113 (free from landlines in the UK), 0800 002 427 (free from landlines in
Switzerland), or +44 800 279 4113 (from outside the UK and Switzerland,
international rates apply). Please note that calls may be monitored or recorded
and the helpline cannot provide financial, legal or tax advice or advice on the
merits of the Merger.
A copy of this announcement is
available on Xstrata’s website at www.xstrata.com
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