Xstrata PLC XTA Further General Meeting Results

  Xstrata PLC (XTA) - Further General Meeting Results

RNS Number : 6086R
Xstrata PLC
20 November 2012












               NOTFORRELEASE,PUBLICATIONORDISTRIBUTIONIN
                    WHOLEORINPART,IN,INTOORFROMANY
JURISDICTIONWHERETODOSOWOULDCONSTITUTEAVIOLATIONOFTHERELEVANTLAWSOF
                              SUCHJURISDICTION





REGULATORYANNOUNCEMENT



                Results of the Further Xstrata General Meeting





Zug, 20 November2012



Xstrata announces the results of the  poll on the Resolutions proposed at  the 
Further Xstrata General  Meeting held  today in connection  with the  proposed 
recommended all-share merger  with Glencore.  Resolution 1  was approved  and 
Resolution 2, the  Revised Management Incentive  Arrangements Resolution,  was 
not approved. The results  of the polls, including  proxies received, are  set 
out below.



Further               VOTES FOR             VOTES AGAINST    VOTES TOTAL   %  of VOTES
Xstrata                                                                    ISC   WITHHELD*
General                                                VOTED
Meeting                                           %
             
                          %
Resolution   2,242,589,092     90.08     247,074,925   9.92  2,489,664,017 82.91 56,612,684
1: To
implement
the New
Scheme of
Arrangement
Resolution   233,254,867       21.57     848,269,011  78.43  1,081,523,878 36.02 453,606,950
2: To
approve the
Revised
Management
Incentive
Arrangements
and the
Revised New
Xstrata 2012
Plan



* A "vote withheld" is  not a 'vote' under English  law and is not counted  in 
the calculation of the votes 'For' and 'Against' the resolution.



As New Scheme  Resolution 2  proposed at the  New Court  Meeting was  approved 
subject to the Revised Management  Incentive Arrangements not being  approved, 
and as Resolution 2 to  approve the Revised Management Incentive  Arrangements 
was not approved, New Scheme Resolution 2 has become effective. The Merger has
therefore been approved by Xstrata shareholders.





A further  announcement will  made shortly.  A copy  of this  announcement  is 
available on Xstrata's website at www.xstrata.com.



Ends





Neitherthecontentofthecompany'swebsitenorthecontentofanyotherwebsiteaccessiblefromhyperlinksonthe
company'swebsiteisincorporatedinto,orformspartof,thisannouncement.



Xstratacontacts:

Claire
Divver
AlisonFlynn

Telephone +44  20  7968  2871 Telephone +44  20  7968 
                                        2838
Mobile    +44  7785  964  340 Mobile    +44  7769  314 
                                        374
Email     cdivver@xstrata.com   Email   aflynn@xstrata.com





AuraFinancial

MichaelOke

StockWellCommunications

PhilipGawith

Telephone
+442073210000 Telephone

                                                                        Mobile

www.xstrata.com

+442033700013

+447887954048

Notestoeditors





AboutXstrataplc



Weareamajorproducerofarangeofvitalcommoditiesusedineverythingfromconstructingbuildings
anddeliveringelectricity,   todeveloping    jetengines    andmobilephones. 
Weareoneofthetopfiveglobal
producersofcopper,thermalandmetallurgicalcoal,ferrochrome,zincandnickelandwealsoproduce
silver,lead,platinum,gold,cobaltand vanadium.



Foundedin2002andheadquarteredinSwitzerland,weoperateinover20countriesandemployover

70,000peopleatmorethan100operationsandprojects
aroundtheworld.Weworkinaresponsible                                 and 
sustainableway,withanentrepreneurial
spiritanddynamicapproach.Formoreinformation,visit www.xstrata.com.





Furtherinformation



Defined terms used in this announcement, unless defined herein, have the  same 
meanings as in the new scheme circular, publisehd by Xstrata plc on 25 October
2012.



This announcement is for information purposes only. It is not intended to  and 
does not constitute, or form part of, an offer, invitation or the solicitation
of an offer to purchase, otherwise  acquire, subscribe for, sell or  otherwise 
dispose of any securities, or the solicitation of any vote or approval in  any 
jurisdiction, pursuant to the Merger or otherwise nor shall there be any sale,
issuance or transfer  of securities  in any jurisdiction  in contravention  of 
applicable law.



This announcement does  not constitute a  prospectus or prospectus  equivalent 
document.



Noticeto US holdersof Xstrata Shares



TheMergerinvolvesanexchangeofthesecuritiesofaUKcompanyforthesecuritiesofaJerseycompanyandis
subjectto                        JerseyandUKdisclosurerequirements,which 
aredifferentfromthoseoftheUnitedStates.The                   financial 
informationincludedinthisannouncement hasbeenpreparedinaccordancewith
International                       Financial                        Reporting 
StandardsandthusmaynotbecomparabletofinancialinformationofUScompaniesorcompanieswhosefinancial
statementsarepreparedinaccordancewithgenerally
acceptedaccountingprinciplesintheUnited States.



TheMergerisproposedtobemadebymeansofascheme ofarrangement underthe
CompaniesActandotherwisein             accordancewiththerequirementsof 
theCode.Theschemeof  arrangementwillrelateto  thesharesof  aUKcompany 
thatisa'foreignprivateissuer'asdefinedunderRule3b-4undertheUSExchangeAct.



Accordingly,theproposedcombinationissubjecttodisclosureand
otherproceduralrequirementsapplicableinthe             UK              to 
schemesofarrangement,whichdifferfromthedisclosurerequirementsoftheUSproxyandtenderofferrules
under theUSExchangeAct.



Anysecuritiestobeissued               underthe                Mergerhave 
notbeenandwillnotberegistered undertheUSSecuritiesAct,or under  the 
securitieslawsofanystate,districtorofanyother     jurisdictionofthe 
United                                    States,orofanyjurisdictionother 
thantheUnitedKingdom.Accordingly,theNew    GlencoreShares    may    not 
beoffered,sold,reoffered,resold,pledged,
deliveredorotherwisetransferred,inorintoanyjurisdictionwheresuchofferorsalewouldviolatetherelevant
securitieslaws     ofsuchjurisdiction.Itis     expected     that      the 
NewGlencoreShareswill         beissuedin         reliance         uponthe 
exemptionfromsuchregistrationprovidedby                  Section3(a)(10) 
oftheUSSecuritiesAct.UnderapplicableUSsecurities laws,persons(whether
ornot
USpersons)whoareorwillbe''affiliates''(withinthemeaningoftheUS
SecuritiesAct)of
XstrataorGlencorepriorto,orofGlencoreafter,theEffectiveDatewillbesubjecttocertaintransferrestrictions
relatingto theGlencore Sharesreceivedinconnectionwiththe Scheme. Itmay
bedifficultforUS   holders   of   Xstrata    Sharestoenforcetheirrights 
andanyclaimarisingoutoftheUSfederalsecuritieslaws,sinceeachofGlencoreand
Xstrata  arelocatedina   non-USjurisdiction,andsomeor  all   of   their 
officers      anddirectorsmay      beresidents       of      a       non-US 
jurisdiction.USholdersofXstrata    Sharesmay     notbeableto     suea 
non-UScompanyoritsofficersordirectorsina                          non- 
UScourtforviolationsoftheUSsecuritieslaws.Further,itmaybedifficulttocompelanon-UScompanyandits
affiliatestosubjectthemselvestoaUScourt'sjudgment.



IfGlencoreexercisesitsright,subjecttotheconsentofthePanel(wherenecessary)andwithXstrata'spriorwritten
consent,toimplementthe Mergerby  way of  a Merger  Offer,the  Mergerwill 
bemadeincompliancewithapplicableUS
lawsandregulations,includingapplicableprovisionsofthe
tenderofferrulesundertheUSExchangeAct,totheextent applicable.





Overseasjurisdictions



TheabilityofXstrata                                        Shareholderswho 
arenotresidentintheUnitedKingdomto     participateintheSchememaybe 
affectedbythelawsoftherelevantjurisdictionsinwhichtheyarelocated.Personswho
arenotresidentintheUnited Kingdom  should inform  themselves of,  and 
observe, any  applicable legal  or regulatory  requirements of  their 
jurisdictions.



NewGlencoreShareshaveneitherbeenmarketedto,norareavailableforpurchaseorexchange,inwholeorinpart,
by,thepublicintheUnitedKingdomorelsewhereinconnectionwiththeMerger.
Thisannouncementisnota                                 prospectusanddoes 
notconstituteaninvitationorofferto
sellorthesolicitationofaninvitationorofferto                    buyany 
security.Noneofthesecuritiesreferredto
inthisannouncementshallbesold,issued,subscribedfor,purchased,
exchangedortransferredinany        jurisdictionincontravention        of 
applicablelaw.



Therelease,publicationordistributionof       thisannouncementinorinto 
jurisdictionsotherthantheUK  may  berestricted   bylawandthereforeany 
personswhoaresubjecttothelawofanyjurisdictionother
thantheUKshouldinform       themselves        about,        andobserve,any 
applicablerequirements.Anyfailuretocomplywiththeapplicablerestrictionsmay
constituteaviolationof                                thesecuritieslawsof 
anysuchjurisdiction.Tothefullest extentpermittedby  applicablelaw,the 
companiesandpersonsinvolvedinthe                      Mergerdisclaimany 
responsibilityorliabilityfortheviolationofsuchrestrictions    by    any 
person.Thisannouncement                hasbeenpreparedforthepurposesof 
complyingwithEnglishlaw,theListingRules, therulesof  theLondon  Stock 
ExchangeandtheCodeandtheinformationdisclosedmay
notbethesameasthatwhich would  havebeendisclosedif  thisannouncement 
hadbeenpreparedinaccordancewiththelawsof   jurisdictionsoutside    of 
England.





Forward-lookingstatements



Thisannouncementcontainsstatementswhichare,ormaybedeemedto
be,"forward-lookingstatements"whichare
prospectiveinnature.Allstatementsotherthanstatements
ofhistoricalfactareforward-lookingstatements.Theyare
basedoncurrentexpectationsandprojectionsaboutfuture
events,andarethereforesubjectto                   risksanduncertainties 
whichcouldcauseactualresultsto
differmateriallyfromthefutureresultsexpressedorimpliedbytheforward-looking
statements.Often,butnotalways,forward-lookingstatementscanbeidentified
bythe                                            useofforward-lookingwords 
suchas"plans","expects","isexpected","issubjectto","budget",
"scheduled", "estimates","forecasts","intends",  "anticipates",  "believes", 
"targets",  "aims",  "projects"   orwords  orterms  ofsimilar   substanceor 
thenegativethereof,
areforward-lookingstatements,aswellasvariationsofsuchwordsandphrasesorstatementsthatcertainactions,
eventsorresults"may","could","should","would","might"or"will"betaken,occurorbeachieved.Suchstatements
arequalified  intheir  entirety  by  theinherent  risks  and  uncertainties 
surrounding     future      expectations.      Forward-looking      statements 
includestatementsrelating tothefollowing:(i)futurecapitalexpenditures,
expenses, revenues, earnings,  synergies, economic performance,  indebtedness, 
financial  condition,  dividend  policy,  losses  and  futureprospects;  (ii) 
business             and             management             strategiesandthe 
expansionandgrowthofGlencore'sorXstrata'soperationsand       potential 
synergiesresultingfromtheMerger;and(iii)theeffects
ofglobaleconomicconditionsonGlencore'sorXstrata's business.



Suchforward-lookingstatementsinvolveknownandunknownrisksanduncertainties
thatcouldsignificantlyaffect
expectedresultsandarebasedoncertainkeyassumptions.Manyfactorsmaycausetheactualresults,performanceor

achievements     ofGlencoreorXstratatobematerially     differentfromany 
futureresults,    performanceorachievements     expressedor     impliedby 
theforward-lookingstatements.  Importantfactors   that   couldcauseactual 
results,performance                                            orachievements 
ofGlencoreorXstratatodiffermateriallyfromtheexpectationsofGlencoreorXstrata,asapplicable,
include,amongotherthings,
generalbusinessandeconomicconditionsglobally,commoditypricevolatility,industry
trends,competition,changes
ingovernmentandotherregulation,includinginrelationtotheenvironment,healthand
safetyand           taxation,labour            relationsandworkstoppages, 
changesinpoliticaland                     economicstability,disruptionsin 
businessoperationsdue                                                     to 
reorganisationactivities(whetherornotGlencorecombineswithXstrata),interestrateand
currencyfluctuations,  the  failuretosatisfyanyconditionsfor  theMerger 
onatimelybasis          oratall,the          failure           tosatisfy 
theconditionsoftheMerger                       whenimplemented(including 
approvalsorclearancesfromregulatoryandotheragencies
andbodies)onatimelybasis
oratall,thefailureofGlencoretocombinewithXstrata
onatimelybasisoratall,the
inabilityoftheCombinedGrouptorealisesuccessfullyanyanticipatedsynergy
benefitswhentheMergeris
implemented,theinabilityoftheCombinedGroupto
integratesuccessfullyGlencore'sandXstrata'soperationsand
programmeswhentheMergerisimplemented,the
CombinedGroupincurringand/orexperiencing        unanticipated        costs 
and/ordelaysordifficultiesrelatingtothe
MergerwhentheMergerisimplemented.         Suchforward-lookingstatements 
shouldthereforebeconstruedinlightof suchfactors.



NeitherXstratanorGlencore,noranyoftheirrespective
associatesordirectors,officersoradvisers,providesany
representation,assuranceor    guaranteethatthe    occurrenceoftheevents 
expressedor     impliedin     anyforward-looking     statements     inthis 
announcementwillactuallyoccur.Youarecautioned
nottoplaceunduerelianceontheseforward-  lookingstatements,whichspeak 
only asof thedatehereof.



Otherthaninaccordancewithitslegalorregulatory   obligations(including 
undertheListingRulesandtheDisclosure andTransparency Rulesof theFSA),
neitherXstratanorGlencoreis                                       underany 
obligationandXstrataandGlencoreeach        expressly         disclaimany 
intentionorobligationtoupdateorreviseany
forward-lookingstatements,whetherasaresultof   new   information,future 
eventsorotherwise.





Noprofitforecasts



Nostatementinthisannouncementisintendedas                      aprofit 
forecastandnostatementinthisannouncementshould    be     interpretedto 
meanthatearningsperGlencoreorXstrataordinaryshareforthecurrentorfuturefinancialyearswould
necessarily          match          or          exceedthe          historical 
publishedearningsperGlencoreorXstrataordinary share.





Responsibility statement



TheIndependentXstrataDirectorseachacceptresponsibilityfortheinformationcontainedinthisannouncement.To
thebestoftheknowledgeandbeliefoftheIndependentXstrataDirectors(whohavetakenallreasonablecareto
ensurethat suchis  thecase), theinformationcontained  inthis  announcement 
for  whichthey   areresponsibleis   in   accordancewiththefactsanddoes 
notomitanythinglikely toaffecttheimportof suchinformation.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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