EVRAZ plc today announces the final results of the Tender Offer
A total of 108,458,508 Ordinary Shares were successfully tendered at the Tender Price of US\$3.10 per ordinary share. The total consideration payable under the Tender Offer is US\$336,221,374.80. Pursuant to the Tender Offer, the Company invited Shareholders to tender up to a maximum of 8.03 per cent of their shareholding calculated as at the Tender Offer Record Date. The successfully tendered shares represent 7.20% of the issued share capital as at 17 April 2015.
For Shareholders who elected to receive the funds for successfully tendered Ordinary Shares in pounds sterling, the price per Ordinary Share that will be paid to those shareholders is 206.97 pence.
As set out in the Circular, the Tender Offer will be implemented on the basis of Morgan Stanley & Co. International plc (“Morgan Stanley”) acquiring, as principal, the successfully tendered Ordinary Shares at the Tender Price. Following this purchase, as further set out in the Circular, the Company will buy back the successfully tendered Ordinary Shares from Morgan Stanley at the Tender Price. The Company intends to hold the Ordinary Shares repurchased pursuant to the Tender Offer in treasury.
The proceeds of the Tender Offer are expected to be despatched to Shareholders by 23 April 2015.
Capitalised terms used in this announcement shall have the same meaning ascribed to them in the Circular.
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