Minmetals offer
In early 2009, Chinese company China Minmetals Non Ferrous Metals Co. Ltd (Minmetals) agreed to buy OZ Minerals for a cash consideration representing A82.5c/share in cash. This deal was subsequently rejected by the Australian Treasurer if it included the Prominent Hill assets. A subsequent deal was agreed whereby Minmetals agreed to purchase substantially all of the assets of OZ Minerals with the exception of Prominent Hill. OZ Minerals is pleased to advise that settlement of the sale is now complete. Total proceeds amounted to US$1,354 million after settlement adjustments. As a consequence, all of OZ Minerals’ bank loan facilities have been repaid in full and the Company will have a cash balance following completion in excess of US$575 million.
ASX announcements
22 June 2009 - Letter to shareholders
17 June 2009 - Completion of transaction with Minmetals
11 June 2009 - Results of Annual General Meeting including proxy results
11 June 2009 - OZ Minerals AGM 2009: Chairmans Address
11 June 2009 - Minmetals offer significantly increased
18 May 2009 - China's NDRC approves Minmetals' transaction with OZ Minerals
08 May 2009 - Letter from the Chairman
08 May 2009 - Notice of Meeting
08 May 2009 - Explanatory Booklet - Sale of Assets to Minmetals
08 May 2009 - Grant Samuel Independent Expert's Report
08 May 2009 - AMC Specialist Technical Report
23 April 2009 - Australian Government approval
14 April 2009 - Sale implementation agreement signed with Minmetals
1 April 2009 - Proposed transaction with Minmetals
31 March 2009 - Request for voluntary suspension
27 March 2009 - Minmetals Offer Update - Information from the Treasurer
27 March 2009 - Request for trading halt
23 March 2009 - Minmetals Offer Update - FIRB extends evaluation period by up to 90 days
16 March 2009 - Letter to Shareholders
27 February 2009 - OZ Minerals completes debt extension
23 February 2009 - Recommended Offer for OZ Minerals by Minmetals: Update
18 February 2009 - Cash offer by Minmetals - Clarification
16 February 2009 - Recommended 82.5 cents per share all-cash offer for OZ Minerals by Minmetals
16 February 2009 - Minmetals Offer Presentation