REG - Rio Tinto - Settlement with ASIC

Rio TintoAnnouncement

07/03/2022 07:00

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RNS Number : 8249D  Rio Tinto PLC  07 March 2022

 

 7 March 2022

 

Settlement with the Australian Securities and Investment Commission

 

Rio Tinto has reached a settlement with the Australian Securities and
Investment Commission (ASIC) regarding the disclosure of the impairment of Rio
Tinto Coal Mozambique (RTCM), which was reflected in Rio Tinto's 2012 year-end
accounts.

 

As part of this court approved settlement, Rio Tinto will pay a A$750,000
penalty for a single contravention of its continuous disclosure obligations in
the period 21 December 2012 to 17 January 2013, immediately preceding the
impairment announcement. As part of this court approved settlement between
ASIC and Rio Tinto, there were no findings of fraud or any systemic or
widespread failure by Rio Tinto.

 

The case against Tom Albanese and Guy Elliott has been wholly dismissed.

 

Rio Tinto settled with the United Kingdom's Financial Conduct Authority (FCA)
in 2017 relating to the same RTCM impairment.  A US court also dismissed a
related US securities class action.

 

Rio Tinto welcomes closure of the ASIC case on appropriate and reasonable
terms. The resolution of this matter, however, does not impact the Securities
and Exchange Commission's proceedings. Rio Tinto will continue to defend
itself vigorously against the SEC's allegations.

 

RTCM was acquired in 2011 and divested in 2014.

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

 

 Media Relations, UK         Media Relations, Australia

 Illtud Harri                Jonathan Rose

 M +44 7920 503 600          M +61 447 028 913

 David Outhwaite             Matt Chambers

 M +44 7787 597 493          M +61 433 525 739

 Media Relations, Americas   Jesse Riseborough

 Matthew Klar                M +61 436 653 412

 T +1 514 608 4429

                             Investor Relations, Australia

 Investor Relations, UK      Amar Jambaa

 Menno Sanderse              M +61 472 865 948

 M: +44 7825 195 178

 David Ovington

 M +44 7920 010 978

 Clare Peever

 M +44 7788 967 877

 Rio Tinto plc               Rio Tinto Limited

 6 St James's Square         Level 7, 360 Collins Street

London SW1Y 4AD

United Kingdom             Melbourne 3000

 T +44 20 7781 2000          Australia

Registered in England

 No. 719885

                             T +61 3 9283 3333

                             Registered in Australia

                             ABN 96 004 458 404

 

This announcement is authorised for release to the market by Steve Allen, Rio
Tinto's Group Company Secretary.

 

riotinto.com

 

 

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