Rio Tinto takes up full entitlements in ERA rights issue, moving to over 98% ownership
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Business Wire
MELBOURNE, Australia--(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 rehabili
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