Anglo Announces the Launch of its Tender Offer
Anglo Ferrous Brazil S.A., formerly known as IronX Mineracao S.A. (BOVESPA: IRON3), informs its shareholders that Anglo American Participacoes em Mineracao Ltda. (the “Offeror”), a wholly owned subsidiary of Anglo American plc, announced today that it has commenced a tender offer to purchase any and all of the outstanding common shares, no par value (including common shares represented by Global Depositary Shares) of Anglo Ferrous Brazil S.A. at a price of R$28.147 per common share plus interest thereon at the effective Special System of Clearance and Custody (Sistema Especial de Liquidacao e Custodia) overnight lending rate applied from and including August 6, 2008 to and including the settlement date of the tender offer.
In accordance with applicable Brazilian regulations, the Offeror will purchase any and all of the outstanding common shares properly and timely tendered and not properly and timely withdrawn through an auction on the BOVESPA which is currently scheduled on December 2, 2008. The tender offer can be accepted at any time between now and (i) in the case of holders of Global Depositary Shares, 2:00 p.m., Sao Paulo time (11:00 a.m., New York City time) or (ii) in the case of holders of common shares tendering directly, 6:00 p.m. Sao Paulo time (3:00 p.m., New York City time), in each case on December 1, 2008 or such later date as the Offeror may specify in the event that the tender offer is extended.
None of Anglo Ferrous Brazil S.A., its board of directors or its executive officers makes any recommendation to holders of common shares (including common shares represented by Global Depositary Shares) as to whether they should tender or refrain from accepting the tender offer because (i) the tender offer is being made by the controlling shareholder of Anglo Ferrous Brazil S.A. and (ii) the tender offer is a cash offer for the common shares (including common shares represented by Global Depositary Shares) and Anglo Ferrous Brazil S.A., its board of directors and its executive officers therefore believe that each investor should make its own decision as to the consideration being offered in the tender offer and whether to tender or refrain from tendering shares. None of these persons has authorized any person to make any recommendation on its behalf as to whether a shareholder should tender or refrain from tendering its shares in the tender offer. If a shareholder is in doubt as to the action to be taken, the shareholder should contact its broker, lawyer, accountant or other professional advisor without delay.
For additional information, shareholders should visit the website maintained by Anglo Ferrous Brazil S.A. with additional documentation and details regarding the tender offer at http://www.anglo-iron3.com.br.
