Demerger implemented – South32 is officially an independent company

0
305
Image credit: BHP Billiton website

Mining giant BHP Billiton has announced that the implementation of the demerger of South32 has been completed.

Image credit: BHP Billiton website
Image credit: BHP Billiton website

According to the company’s news release, shares in South32 Limited have been distributed to eligible BHP Billiton shareholders.

“The number of South32 ordinary shares on issue was 5,323,762,901 as at 25 May 2015. Holding statements will be dispatched to shareholders by early June 2015. Commencement dates for normal settlement trading of South32 shares on the ASX and LSE, in addition to regular way trading of South32 ADSs in the over-the-counter market, are expected to occur as outlined in the Shareholder Circular dated 16 March 2015 in relation to the demerger of South32 by BHP Billiton1. Normal settlement trading on the JSE commenced on 18 May 2015,” the company said in the news release.

The announcement comes one week after South32 Limited was admitted to the Official List of the Australian Securities Exchange (ASX).

South32 is a globally diversified metals and mining company with a portfolio of high quality, well maintained, cash generative assets producing bauxite, alumina, aluminium, thermal and metallurgical coal, manganese, nickel, silver, lead and zinc.

The company was created with the demerger of a selection of BHP Billiton’s non-core assets, which was approved by the vast majority of BHP shareholders at the general meetings which took place on 6 May 2015.

South32 is headquartered in Perth, Australia, and also has a regional office in Johannesburg, South Africa. These regional offices are supported by a global shared services centre in Johannesburg and a marketing hub based in Singapore.