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Company announcement: Credit Suisse Holding in Xstrata
Zug, 12 December 2006
Xstrata plc (“Xstrata”) announces that it has been advised by Credit Suisse Securities (Europe) Limited (“CSSEL”) that on 6 December 2006 CSSEL transferred an aggregate of 151,560,600 Xstrata ordinary shares (“Relevant Shares”) (representing approximately 16.07% of Xstrata’s total issued share capital) to its wholly-owned subsidiary Hanmer B.V. in connection with a reorganisation of CSSEL’s holding of the Relevant Shares (the “CSSEL Reorganisation”).
In connection with the 1 for 3 rights issue of up to 235,787,596 new Xstrata ordinary shares announced by Xstrata on 3 October 2006, CSSEL entered into a lock-up agreement (the “CSSEL Agreement”) with Xstrata under which CSSEL undertook not to, subject to certain exceptions, dispose of the Relevant Shares during the period commencing on 3 October 2006 and ending six months after the latest time and date for acceptance and payment in full under the rights issue (which occurred on 27 October 2006). The transfer by CSSEL to Hanmer B.V. of the Relevant Shares pursuant to the CSSEL Reorganisation is permitted under the CSSEL Agreement subject to Hanmer B.V. entering into a similar lock up undertaking to the one given by CSSEL. Accordingly, Hanmer B.V. has entered into a lock-up agreement with Xstrata in respect of the Relevant Shares for the period commencing on 6 December 2006 and ending on 27 April 2007.
Xstrata contacts
Richard Elliston
Telephone 020 7968 2885
Mobile 07759 924 576
Email relliston@xstrata.com
Claire Divver
Telephone 020 7968 2871
Mobile 07785 964 340
Email cdivver@xstrata.com