ArcelorMittal announces the successful completion of its c.US$3bn rights issue
(Thomson Reuters ONE) -
ArcelorMittal S.A. /
ArcelorMittal announces the successful completion of its c.US$3bn rights issue
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The issuer is solely responsible for the content of this announcement.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO
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PROHIBITED BY APPLICABLE LAW
Luxembourg, 4 April 2016
ArcelorMittal announces the successful completion of its c.US$3bn[1] rights
issue
Strong investor support for ArcelorMittal's rights issue; total subscription
rate of 126.9%
* 1,229,905,208 new shares subscribed for through the exercise of primary
subscription rights under the rights, representing a subscription rate of
97.4%
* Oversubscription demand for 372,398,986 shares
* 1,602,304,194 total new shares subscribed for including oversubscription
shares, representing a total subscription rate of 126.9%
1,229,905,208 new shares were subscribed for through the exercise of primary
subscription rights under the rights, representing 97.4% of new shares to be
issued. Oversubscription demand amounted to 372,398,986 new shares, representing
11.5 times the number of surplus shares available after satisfaction of the
primary subscription rights, and will, as a result, be satisfied only in part,
i.e. for 32,446,323 new shares.
Surplus shares will be allocated to holders that submitted oversubscription
requests on a pro-rata basis, in proportion to the number of rights exercised by
each Holder (excluding the oversubscription), in each case in an amount that
does not exceed the maximum number of additional New Shares requested.
Post capital increase, ArcelorMittal's issued share capital will consist of
3,065,710,869 shares without nominal value.
As announced on 5 February 2016, ArcelorMittal intends to use the net proceeds
of the rights issue to reduce its indebtedness and to strengthen its balance
sheet.
Settlement and delivery of new shares pursuant to rights held through the
European clearing systems or directly in the European rights register is
expected to take place on 8 April 2016. Delivery of new shares to holders of
rights through DTC or the New York rights register is expected to take place on
11 April 2016. The new shares are expected to be admitted to trading on the
European stock exchanges[2] on 8 April 2016 and on the New York Stock Exchange
on 11 April 2016.
Ends
Forward-Looking Statements
This press release may contain forward-looking information and statements about
ArcelorMittal and its subsidiaries. These statements include financial
projections and estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future operations, products
and services, and statements regarding future performance. Forward-looking
statements may be identified by the words "believe," "expect," "anticipate,"
"target" or similar expressions. Although ArcelorMittal's management believes
that the expectations reflected in such forward-looking statements are
reasonable, investors and holders of ArcelorMittal's securities are cautioned
that forward-looking information and statements are subject to numerous risks
and uncertainties, many of which are difficult to predict and generally beyond
the control of ArcelorMittal, that could cause actual results and developments
to differ materially and adversely from those expressed in, or implied or
projected by, the forward-looking information and statements. These risks and
uncertainties include those discussed or identified in the filings with the
Luxembourg supervisory authority for the financial sector (Commission de
Surveillance du Secteur Financier - CSSF) and the United States Securities and
Exchange Commission (the "SEC") made or to be made by ArcelorMittal, including
ArcelorMittal's latest Annual Report on Form 20-F filed with the SEC,
ArcelorMittal undertakes no obligation to publicly update its forward-looking
statements, whether as a result of new information, future events, or otherwise.
For readers in the European Economic Area
This press release does not constitute an offer to sell, or the solicitation of
an offer to buy or subscribe for, any securities of ArcelorMittal within the
meaning of Luxembourg law and/or the laws of any other member state of the
European Economic Area. This document does not constitute a prospectus within
the meaning of EC Directive 2003/71/EC of the European Parliament and of the
Council dated 4 November 2003, as amended (the "Prospectus Directive"), which
expression includes any relevant implementing measure in the member state
concerned, and should not be the basis for any agreement or decision to invest.
Any offering of securities or new admission will be based exclusively on a
prospectus prepared for that purpose. Further, ArcelorMittal has not authorized
any offer to the public of securities in any member state of the European
Economic Area that has implemented the Prospectus Directive, other than
Luxembourg, the Netherlands, France and Spain, (each such state other than
Luxembourg, the Netherlands, France and Spain, a "Relevant Member State"). With
respect to each Relevant Member State, no action has been undertaken or will be
undertaken to make an offer to the public of securities requiring publication of
a prospectus in any Relevant Member State. For the offering of subscription
rights in Luxembourg, the Netherlands, France and Spain, a European securities
prospectus has been approved by the Luxembourg supervisory authority for the
financial sector (Commission de Surveillance du Secteur Financier - CSSF) and
passported into the Netherlands, France and Spain subsequent to notification
having been given to the competent regulatory authorities in those
jurisdictions. The European securities prospectus is available for download on
the internet site of ArcelorMittal (www.arcelormittal.com). Copies of the
prospectus are also available upon request and free of charge at 24-26,
boulevard d'Avranches, L-1160 Luxembourg, Grand-Duchy of Luxembourg.
In each Relevant Member State this communication is only addressed to, and
directed at, qualified investors in that Relevant Member State within the
meaning of the Prospectus Directive.
This press release contains regulated information within the meaning of the
Transparency Directive 2004/109/EC and implementing laws and regulations, which
must be made publicly available pursuant to Luxembourg law.
This press release contains advertising materials in connection with the Offer
as referred to in the Market Abuse Directive 2003/6/EC and implementing laws and
regulations.
For readers in the United Kingdom
This communication is only being distributed to, and is only directed at, (i)
persons who are outside the United Kingdom or (ii) investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) high net worth
companies, and other persons to whom it may lawfully be communicated, falling
within Article 49(2)(a) to (d) of the Order (all such persons together being
referred to as "relevant persons"). The subscription rights and new shares are
only available to, and any invitation, offer or agreement to subscribe for,
purchase or otherwise acquire such subscription rights or new shares will be
engaged in only with, relevant persons. Any person who is not a relevant person
should not act or rely on this document or any of its contents.
For readers in the United States
ArcelorMittal has filed a registration statement (including a prospectus) with
the United States Securities and Exchange Commission (the "SEC") for the
offering to which this communication relates. Before you invest, you should read
the prospectus in that registration statement, the supplement to that prospectus
ArcelorMittal and other documents ArcelorMittal has filed with the SEC for more
complete information about ArcelorMittal and this offering. You may get these
documents free of charge by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, ArcelorMittal, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus after filing if you request it
by writing or telephoning ArcelorMittal at ArcelorMittal USA LLC, 1 South
Dearborn Street, 19th Floor, Chicago, IL 60603, Attention: Ms. Lisa M. Fortuna,
Manager, Investor Relations, telephone number: (312) 899-3985.
The Banks, each of which are authorised in the United Kingdom by the Prudential
Regulation Authority and regulated in the United Kingdom by the Financial
Conduct Authority and the Prudential Regulation Authority, are each acting
exclusively for the Company and for no-one else in connection with any
transaction mentioned in this announcement and will not regard any other person
(whether or not a recipient of this announcement) as a client in relation to any
such transaction and will not be responsible to any other person for providing
the protections afforded to their respective clients, or for advising any such
person on the contents of this announcement or in connection with any
transaction referred to in this announcement.
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence
in 60 countries and an industrial footprint in 19 countries. Guided by a
philosophy to produce safe, sustainable steel, we are the leading supplier of
quality steel in the major global steel markets including automotive,
construction, household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability, quality and leadership, we operate
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars and washing machines. We are actively researching and
producing steel-based technologies and solutions that make many of the products
and components people use in their everyday lives more energy efficient.
We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With a
geographically diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our supply to
the external market is increasing as we grow.
In 2015, ArcelorMittal had revenues of $63.6 billion and crude steel production
of 92.5 million tonnes, while own iron ore production reached 62.8 million
tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT),
Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona,
Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
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Contact information ArcelorMittal investor relations
Europe +35247923198
Americas +13128993985
Retail +35247923198
SRI +442075431123
Bonds/credit +33171921026
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ArcelorMittal corporate communications
Sophie Evans +442032142882
Paul Weigh +442032142419
E-mail: press(at)arcelormittal.com
France
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|Sylvie Dumaine / Anne-Charlotte Creach +33153707470 |
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[1] Based on the 10 March 2016 published European Central Bank euro/USD exchange
rate used to set the subscription price in euros. The subscription price in
euros was set to generate gross proceeds in EUR equivalent to approximately USD
3bn based on that rate i.e. EUR 2.78 bn
[2] The Luxembourg Stock Exchange, Euronext Amsterdam, Euronext Paris and the
Bolsas de
Valores of Madrid, Barcelona, Bilbao and Valencia
ArcelorMittal announces successful completion of rights issue:
http://hugin.info/154658/R/2000441/737995.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ArcelorMittal S.A. via GlobeNewswire
[HUG#2000441]
Unternehmensinformation / Kurzprofil:
Datum: 04.04.2016 - 23:46 Uhr
Sprache: Deutsch
News-ID 461786
Anzahl Zeichen: 15473
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