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BIL
BIBLT
BHP Billiton Plc - BHP Billiton completes us$2 billion capital return
BHP Billiton Plc
Share code: BIL
Isin: GB0000566504
NEWS RELEASE
Date 16 May 2006
BHP BILLITON COMPLETES US$2 BILLION CAPITAL RETURN
BHP Billiton today announced that it has successfully completed the US$2 billion
capital management programme announced in February 2006, buying back a total of
114.82 million shares, or 1.9% of the issued share capital of the BHP Billiton
Group.
BHP Billiton Chief Financial Officer, Alex Vanselow, said the rapid completion
of the programme demonstrated BHP Billiton"s commitment to enhancing shareholder
value.
"We are delighted to have been able to complete our announced programme in such
a short space of time and in a way that maximises value to the Group and our
shareholders. The reduced number of shares on issue means that all shareholders
will benefit from the increased earnings, cash flow and return on equity
attributable to each share. BHP Billiton has now returned US$11.4 billion to
shareholders since June 2001 through a combination of dividends, buy-backs and
other forms of capital returns.
"We continue to review the Company"s capital requirements and, in accordance
with our commitment to strong capital discipline, will continue to return
surplus capital to shareholders when appropriate, whilst ensuring that we are
able to finance our significant pipeline of growth opportunities and support our
progressive dividend policy, regardless of short term commodity price
movements," Mr Vanselow said.
The A$2.25 billion (US$1.6 billion) off-market buy-back of 96.0 million shares
in BHP Billiton Limited was completed on 3 April 2006 at a price of A$23.45 per
share, representing a discount of 14% to the volume weighted average price of
BHP Billiton Limited shares over the 5 trading days up to and including the
closing date of the buy-back.
The on-market buy-back of shares in BHP Billiton Plc commenced on 27 April 2006
and was completed today. A total of 18.82 million shares have been bought back
at an average price of 1153.56 pence (totalling GBP217 million or US$403m). This
represents a discount to the average BHP Billiton Limited share price over the
period of 8.8%.
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Mark Lidiard, Investor &
Relations Media Relations
Tel: +61 3 9609 2898 Tel: +44 20 7802 4156
Mobile: +61 400 693 915 Mobile: +44 7769 934 942
email: email:
Samantha.Evans@bhpbillito Mark.Lidiard@bhpbilliton.com
n.com Illtud Harri, Media Relations
Tel: +44 20 7802 4195
Jane Belcher, Investor Mobile: +44 7920 237 246
Relations email:
Tel: +61 3 9609 3952 Illtud.Harri@bhpbilliton.com
Mobile: +61 417 031 653
email:
Jane.H.Belcher@bhpbillito
n.com
United States Tracey South AfricaAlison Gilbert,
Whitehead, Investor & Investor Relations
Media Relations Tel: SA +27 11 376 2121 or UK
Tel: US +1 713 599 6100 +44 20 7802 4183
or UK +44 20 7802 email:
4031Mobile: +44 7917 648 Alison.Gilbert@bhpbilliton.co
093 m
email:
Tracey.Whitehead@bhpbilli
ton.com
Date: 17/05/2006 07:32:20 AM Produced by the JSE SENS Department
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