MANDATORY OFFER TO BE MADE BY ANGLO AMERICAN PLC T
Kumba Resources Limited - Mandatory Offer To Be Made By Anglo American Plc To
Kumba"s Shareholders
Kumba Resources Limited
(Incorporated in the Republic of South Africa)
Share code: KMB ISIN : ZAE 4034310
(Registration number 2000/011076/06)
("Kumba" or the "company")
MANDATORY OFFER TO BE MADE BY ANGLO AMERICAN PLC TO KUMBA"S SHAREHOLDERS
Introduction
Shareholders of Kumba ("shareholders") are referred to the announcement made
earlier today by Anglo American plc ("Anglo American") to the effect that Anglo
American, through its wholly-owned South African subsidiary, Anglo South Africa
Capital (Proprietary) Limited, has acquired additional shares in Kumba, on the
open market, such that Anglo American"s beneficial shareholding in Kumba has
increased to just over 35%. As a consequence an affected transaction has
occurred in terms of the Securities Regulation Code on Take-overs and Mergers
and the Rules of the Securities Regulation Panel. Accordingly, Anglo American is
required to extend a mandatory cash offer to Kumba"s shareholders, other than
Anglo American and its concert parties, to acquire all of their shares in Kumba
(the "Offer").
Terms of the Offer
The Offer will be for a cash consideration of 3 700 cents per Kumba share.
Anglo American has stated that it intends to post an offer document setting out
the full details of the Offer as soon as possible and in any event within 30
days from date of the announcement.
Recommendation by the Board
The Board of Directors of Kumba (the "Board") will assess the terms of the Offer
and make a recommendation to shareholders. In this regard, the Company has
appointed JPMorgan as its independent financial adviser to advise on the Offer
as to how it affects all holders of Kumba shares, including specifically,
minority shareholders of such shares. The substance of such advice and the
recommendation of the Board will be communicated to shareholders in due course.
Pretoria
31 October 2003
Financial Adviser and Sponsor
JP Morgan
Date: 31/10/2003 05:28:03 PM Supplied by www.sharenet.co.za
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