General Announcement::Notice of Adjustment to Exchange Property

Issuer & Securities

Issuer/ Manager
VALIN MINING INVESTMENTS (SINGAPORE) PTE. LTD.
Securities
VALIN MINING US$354.8MZ211115 - XS1514653150 - 61PB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-Apr-2018 15:54:39
Status
New
Announcement Sub Title
Notice of Adjustment to Exchange Property
Announcement Reference
SG180408OTHRL6TL
Submitted By (Co./ Ind. Name)
Yin Wang
Designation
Manager
Effective Date and Time of the event
05/04/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)
Valin Mining Investments (Singapore) Pte. Ltd. (the "Issuer") issued Zero Coupon Exchangeable Bonds due 2021 exchangeable into shares of Fortescue Metals Group Ltd. (the "Exchangeable Bonds") pursuant to a trust deed dated as of 15 November 2016 by and between the Issuer and DB Trustees (Hong Kong) Limited, as trustee. On 21 February 2018, Fortescue Metals Group Ltd. ( FMG ) announced that it would pay a 2018 interim dividend of AUD 0.11 per FMG Share. On 5 April 2018, FMG paid the 2018 interim dividend.
Pursuant to Condition 8.3(b)(iii)(B) of the Terms and Conditions of the Exchangeable Bonds, the Capital Distribution by way of the cash dividend payment by FMG in an amount of AUD 7,146,550.51 is attributable to the Exchange Property and is included as part of the Exchange Property. Consequently, the Exchange Property has been adjusted from 64,968,641 FMG Shares and AUD 29,235,888.45 in cash (net of any applicable taxes, duties, costs and expenses) to 64,968,641 FMG Shares and AUD 36,382,438.96 in cash (net of any applicable taxes, duties, costs and expenses) effective from 5 April 2018. As a result of the foregoing, the Exchange Ratio per US$200,000 in nominal value of the Exchangeable Bonds has been changed from 36,622.68 FMG Shares and AUD 16,480.21 in cash to 36,622.68 FMG Shares and AUD 20,508.70 in cash.
All capitalised terms not otherwise defined herein have the same meanings given to them in the Terms and Conditions of the Exchangeable Bonds.
This notice and its contents are not intended to be nor should be construed as investment advice or a recommendation on any particular course of action and is solely meant for information only. If you are in any doubt in relation to this notice or its contents, please consult your own professional advisers immediately.
Valin Mining Investments (Singapore) Pte. Ltd.
8 April 2018

Attachments

Notice of Adjustment to Exchange Property.pdf
Total size =132K