Rio Tinto takes up full entitlements in ERA rights issue, moving to over 98% ownership

Business Wire11-19

MELBOURNE, Australia, November 19, 2024--(BUSINESS WIRE)--Rio Tinto notes the announcement today by Energy Resources of Australia Ltd (ERA) in relation to the conclusion of its entitlement offer and ...

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Our utmost priority and commitment is to complete this important rehabilitation project in a way that is consistent with the wishes of the Mirarr People.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"力拓在ERA配股中获得全部权利，持股比例超过98%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ERA.AU":1,"RIO.AU":1,"RIO":0.9,"XAO.AU":0.76,"XJO.AU":0.76,"XKO.AU":0.76},"content_text":"MELBOURNE, Australia, November 19, 2024--(BUSINESS WIRE)--Rio Tinto notes the announcement today by Energy Resources of Australia Ltd (ERA) in relation to the conclusion of its entitlement offer and shortfall bookbuild, which raised A$766.5 million (before costs) to fund planned rehabilitation activities of the Ranger Project Area.\nAs a result of Rio Tinto taking up its pro rata entitlements in the entitlement offer and the level of participation by other ERA shareholders, Rio Tinto will hold over 98% of ERA’s shares.\nIn accordance with Rio Tinto’s previously stated intentions published in ERA’s entitlement offer information booklet, Rio Tinto intends to proceed under Part 6A.2 of the Corporations Act 2001 (Cth) with the compulsory acquisition of all remaining ERA shares that it does not currently own. It is proposing to do so at A$0.002 per ERA share, being the same price as the entitlement offer.\nRio Tinto Chief Executive, Australia, Kellie Parker said: \"We remain committed to the successful rehabilitation of the Ranger Project Area to a standard that will establish an environment similar to the adjacent Kakadu National Park, a World Heritage site. Our utmost priority and commitment is to complete this important rehabilitation project in a way that is consistent with the wishes of the Mirarr People.\n\"Proceeding with compulsory acquisition, after participating for our full entitlement in the ERA capital raising, underlines our commitment to Ranger’s rehabilitation.\"\nIf compulsory acquisition is completed, Rio Tinto has no intention to invest in mining or development of the Jabiluka deposit.\nThis announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241119836361/en/\nContacts\nPlease direct all enquiries to media.enquiries@riotinto.com\nMedia Relations, United KingdomDavid OuthwaiteM +44 7787 597 493\nMedia Relations, AustraliaMatt ChambersM +61 433 525 739Michelle LeeM +61 458 609 322Rachel PupazzoniM +61 438 875 469\nMedia Relations, CanadaSimon LetendreM +1 514 796 4973Malika CherryM +1 418 592 7293Vanessa DamhaM +1 514 715 2152\nMedia Relations, USJesse RiseboroughM +1 202 394 9480\nInvestor Relations, United KingdomDavid OvingtonM +44 7920 010 978Laura BrooksM +44 7826 942 797Wei Wei HuM +44 7825 907 230\nInvestor Relations, AustraliaTom GallopM +61 439 353 948Amar JambaaM +61 472 865 948\nRio Tinto plc6 St James’s SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885\nRio Tinto LimitedLevel 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404\nriotinto.com\nCategory: ERA","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484391690"}