REG - Rio Tinto - Acquisition of TRQ receives shareholder approval

Rio TintoAnnouncement

09/12/2022 18:00

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RNS Number : 2858J  Rio Tinto PLC  09 December 2022

Rio Tinto acquisition of Turquoise Hill receives shareholder support

 

Rio Tinto has received the required support from Turquoise Hill Resources Ltd
(TSX: TRQ) (NYSE: TRQ) ("Turquoise Hill") shareholders for its proposed
acquisition of the approximately 49% of the issued and outstanding shares of
Turquoise Hill that it does not currently own.

 

Given the transaction is being conducted by way of a Canadian plan of
arrangement, it remains subject to the final approval of the Supreme Court of
Yukon with a hearing scheduled for 14 December. Completion of the acquisition
is expected in the days following court approval, after customary closing
procedures.

 

Rio Tinto Copper Chief Executive Bold Baatar said: "We welcome the support
from minority shareholders, which is a key milestone in our acquisition of
TRQ. This transaction will deliver significant benefits for all shareholders,
and allow us to progress the Oyu Tolgoi project in partnership with the
Government of Mongolia with a simpler and more efficient governance and
ownership structure."

 

Additional disclosures

 

This press release does not constitute an offer to buy or sell or the
solicitation of an offer to sell or buy any securities. Any offers,
solicitations or offers to buy, or any sales of securities will be made in
accordance with registration and other requirements under applicable law.

 

Forward-Looking Statements

 

This press release includes "forward-looking statements" within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical facts included in this release, are
forward-looking statements. The words "intend", "forecast", "project",
"anticipate", "estimate", "plan", "believes", "expects", "may", "should",
"will", "target", "pursue", "seek" or similar expressions, commonly identify
such forward-looking statements. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Among the factors that could cause actual results
to differ materially include, but are not limited to, those relating to
whether the Arrangement will be consummated. Rio Tinto expressly disclaims any
obligation or undertaking (except as required by applicable law, the UK
Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority and the Listing Rules of the Australian Securities Exchange)
to release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in its expectations with regard thereto
or any change in events, conditions or circumstances on which any such
statement is based. All information provided in this press release, including
the forward-looking statements herein, speak only as of the date of this press
release.

 

This announcement contains inside information.

 

The person responsible for arranging and authorising the release of this
announcement on behalf of Rio Tinto is Steve Allen, Group Company Secretary.

 

LEI: 213800YOEO5OQ72G2R82

 

 

 

 Contacts  Please direct all enquiries to media.enquiries@riotinto.com

 

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