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BHPBill to develop gas field
BHPBill announced approval for development of the Macedon gas field in the Exmouth Sub-basin, Western Australia. The Macedon Gas Development, to be operated by BHPBill, will commercialise natural gas from offshore production lease WA-42-L, located 100 kilometres west of Onslow. First production is expected during calendar year 2013. Recoverable reserves for the Macedon field are between 400 and 750 billion cubic feet of gas. Project costs will be approximately USD1.5 billion, of which BHPBill's share will be 71.43 percent (approximately USD1.050 million). The balance will be invested by joint venture partner Apache Northwest with a 28.57 percent interest. The Macedon project involves four offshore production wells supplying a wet gas pipeline to an onshore gas treatment plant to be constructed at Ashburton North, 17 kilometres south west of Onslow. A sales gas pipeline will be connected to the Dampier to Bunbury Natural Gas Pipeline for sale to the domestic gas market in Western Australia. The gas plant will have a design capacity of 200 million standard cubic feet per day.
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BHPBill receives US go ahead for PotashCorp buy
BHPBill announced that it has been granted early termination by the US Federal Trade Commission and the Antitrust Division of the Department of Justice of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), in connection with its offer to acquire all of the issued and outstanding common shares of Potash Corporation of Saskatchewan Inc ("PotashCorp") (NYSE:POT/TSX:POT) together with any associated rights issued and outstanding under the PotashCorp Shareholder Rights Plan (the "offer"). The termination is effective immediately, thereby ending the HSR waiting period for the proposed acquisition. Accordingly, the condition under the offer for the expiration or termination of any waiting period under the HSR Act has been satisfied.
The offer remains subject to receipt of other regulatory approvals and the satisfaction of other conditions. BHPBill remains confident that the offer will receive all remaining requisite regulatory approvals in due course. As previously announced, in the offer, BHPBill is offering to purchase all outstanding PotashCorp common shares at a price of USD130.00 in cash per share. As announced on 20 September 2010, the time for acceptance of the offer has been extended until 11:59 pm (Eastern time) on 18 November 2010, or such later date or dates as may be fixed by BHPBill, unless the offer is withdrawn. As of the date of extension of the offer, 1 801 PotashCorp common shares had been tendered in connection with the offer.
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BHPBill -- notice of 2011 interim dividend
The proposed dates for the 2011 interim dividend of BHP Billiton Ltd and BHP Billiton Plc are as follows:
- Half yearly results announcement and dividend declaration -- 16 February 2011
- Last day to trade & currency conversion into rand on JSE Ltd -- 4 March 2011
- Ex-Dividend Date (ASX & JSE Ltd) -- 7 March 2011
- Ex-Dividend Date (London & New York Stock Exchanges -- 9 March 2011
- Record date (including currency conversion and currency election dates for ASX & LSE) -- 11 March 2011
- Payment Date -- 31 March 2011
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BHPBill -- amendment and variation of offer
BHPBill announced that it has amended and varied the terms of its all- cash offer to acquire all of the issued and outstanding common shares of Potash Corporation of Saskatchewan Inc. ("PotashCorp") (NYSE:POT/TSX:POT) together with any associated rights issued and outstanding under the PotashCorp shareholder rights plan, at a price of USD130 in cash per PotashCorp common share (the "Offer"). On 20 September 2010, the Canadian Competition Bureau issued a supplementary information request in respect of the offer as is permitted by the Competition Act (Canada). Under the Competition Act, the offer cannot be completed until 30 days after BHPBill complies with the supplementary information request unless the commissioner of competition issues an advance ruling certificate or "no-action" letter before that time, provided that there is no order issued by the competition tribunal in effect prohibiting completion at the relevant time. BHPBill intends to comply expeditiously with the supplementary information request. The time for acceptance of the offer has therefore been extended until 11:59 pm (Eastern Time) on 18 November 2010 to allow time for completion of the regulatory review of the transaction (see "Regulatory Matters - Antitrust Matters - Competition Act" in Section 14 of BHPBill's 20 August 2010 circular relating to the offer). BHPBill is confident that the offer will receive all requisite regulatory approvals in due course. Other amendments to the offer and the circular and the associated letter of transmittal reflect certain relief granted and comments received from the U.S. Securities and Exchange Commission (the "SEC") relating to the offer, as first reflected in Amendment No. 4 to the Schedule TO of BHP Bill and BHP Billiton Development 2 (Canada) Ltd (the "Offeror") filed with the SEC on 1 September 2010, as well as administrative revisions. A notice of amendment and variation of the offer will be mailed to PotashCorp's security holders and filed on SEDAR and EDGAR by BHP Billiton.
Important information
The offer is being made by the offeror, an indirect wholly-owned subsidiary of BHP Billiton Plc. This document is for information purposes only and does not constitute or form part of any offer to purchase or any solicitation of any offer to sell PotashCorp's common shares. The Offer (as the same may be varied or extended in accordance with applicable law) is being made exclusively by means of, and subject to the terms and conditions set out in, the offer and the circular, the letter of transmittal, the notice of guaranteed delivery and other related offer materials (the "Offer Materials"). In connection with the Offer, the Offeror, BHP Billiton Limited and BHP Billiton Plc have filed with the Canadian securities regulatory authorities the Offer Materials and have filed with the U.S. Securities and Exchange Commission (the "SEC") a Tender Offer Statement on Schedule TO (the "Schedule TO"), including the Offer Materials.
The offer materials and the schedule to, as they may be amended from time to time, contain important information, including the terms and conditions of the offer, that should be read carefully before any decision is made with respect to the offer. Investors and security holders may obtain a free copy of the offer materials and other documents filed by the offeror, BHP Billiton Ltd and BHP Billiton Plc with the sec at the website maintained by the sec at www.bhpbilliton.com. or by contacting the information agents for the offer, Meckenzie Partners, Inc. and Kingsdale Shareholder Services Inc. by phone at 1-800-322-2885 and 1-866-851-3215, respectively, or by email at potash@mackenziepartners.com and contactus@kingsdaleshareholder.com, respectively.
While the offer is being made to all holders of PotashCorp common shares, the offer is not being made or directed to, nor will deposits of PotashCorp common shares be accepted from or on behalf of, holders of PotashCorp common shares in any jurisdiction in which the making or acceptance of the offer would not be in compliance with the laws of such jurisdiction. However, the offeror may, in its sole discretion, take such action as it may deem necessary to extend the offer in any such jurisdiction. This document contains information, including information relating to PotashCorp, that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of such information.
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BHPBill notification of dividend exchange rate
On 25 August 2010 BHPBill announced a final dividend for the year ended 30 June 2010 of USD45 cents. Included in the announcement was the advice that the currency conversion for Australian cents, British pence and New Zealand cents would be based on the foreign currency exchange rates on the record date, 10 September 2010, and for South African cents the last date to trade on the JSE Ltd, being 3 September 2010(1). The following table details the currency exchange rates applicable for the dividend:
Exchange rate & dividend per ordinary share
- Australian cents: 0.924985 & 48.649438
- British pence: 1.543000 & 29.163966
- New Zealand cents: 0.729394 & 61.695051
- South African cents: 7.228500 & 325.282500
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BHPBill announce dividend currency exchange rate
On 25 August 2010 BHPBill announced a final dividend for the year ended 30 June 2010 of USD45 cents per share. The currency exchange rate applicable for the dividend payable in South African cents to shareholders on the BHP Billiton Plc branch register was set at R7.2285.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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