TIDMRIO
RNS Number : 5919T
Rio Tinto PLC
06 October 2014
Statement regarding press speculation
7 October 2014
The board of Rio Tinto notes the recent press speculation
regarding a possible combination of Rio Tinto and Glencore.
The Rio Tinto board confirms that no discussions are taking
place with Glencore.
In July 2014, Glencore contacted Rio Tinto regarding a potential
merger of Rio Tinto and Glencore.
The Rio Tinto board, after consultation with its financial and
legal advisers, concluded unanimously that a combination was not in
the best interests of Rio Tinto's shareholders.
The board's rejection was communicated to Glencore in early
August and there has been no further contact between the companies
on this matter.
Rio Tinto remains focused on the successful execution of its
strategy, which the board of Rio Tinto is confident will continue
to deliver significant and sustainable value for shareholders.
Rio Tinto chairman Jan du Plessis said "Under the leadership of
Sam Walsh and Chris Lynch, Rio Tinto has made significant progress
in refocusing and strengthening its business.
"The board believes that the continued successful execution of
Rio Tinto's strategy will allow Rio Tinto to increase free cash
flow significantly in the near term and materially increase returns
to shareholders. Rio Tinto's shareholders stand to benefit from the
very considerable value that this will generate."
Forward-Looking Statements
This announcement includes forward-looking statements. All
statements other than statements of historical facts included in
this announcement, including, without limitation, those regarding
Rio Tinto's financial position, business strategy, plans and
objectives of management for future operations, are forward-looking
statements. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Rio Tinto, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.
Such forward-looking statements are based on numerous
assumptions regarding Rio Tinto's present and future business
strategies and the environment in which Rio Tinto will operate in
the future. Among the important factors that could cause Rio
Tinto's actual results, performance or achievements to differ
materially from those in the forward-looking statements include,
among others, levels of actual production during any period, levels
of demand and market prices, the ability to produce and transport
products profitably, the impact of foreign currency exchange rates
on market prices and operating costs, operational problems,
political uncertainty and economic conditions in relevant areas of
the world, the actions of competitors, activities by governmental
authorities such as changes in taxation or regulation and such
other risk factors identified in Rio Tinto's most recent Annual
Report on Form 20-F filed with the SEC or Form 6-Ks furnished to
the SEC. Forward-looking statements should, therefore, be construed
in light of such risk factors and undue reliance should not be
placed on forward-looking statements. These forward-looking
statements speak only as of the date of this announcement. Rio
Tinto expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Rio Tinto's expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
Nothing in this announcement should be interpreted to mean that
future earnings per share of Rio Tinto plc or Rio Tinto Limited
will necessarily match or exceed its historical published earnings
per share.
None of Rio Tinto, any of its officers or any person named in
this announcement with their consent or any person involved in the
preparation of this announcement makes any representation or
warranty (either express or implied) or gives any assurance that
the implied values, anticipated results, performance or
achievements expressed or implied in forward-looking statements
contained in this announcement will be achieved.
Contacts
media.enquiries@riotinto.com
www.riotinto.com
Follow @RioTinto on Twitter
Media Relations, EMEA/Americas Media Relations, Australia/Asia
Illtud Harri Ben Mitchell
T +44 20 7781 1152 T +61 3 9283 3620
M +44 7920 503 600 M +61 419 850 212
David Outhwaite Bruce Tobin
T +44 20 7781 1623 T +61 3 9283 3612
M +44 7787 597 493 M +61 419 103 454
David Luff Matthew Klar
T + 44 20 7781 7781 T +61 7 3625 4244
M +44 7780 226 422 M +61 457 525 578
Investor Relations, EMEA/Americas Investor Relations, Australia/Asia
John Smelt Rachel Storrs
T +44 20 7781 1654 T +61 3 9283 3628
M +44 7879 642 675 M +61 417 401 018
David Ovington Galina Rogova
T +44 20 7781 2051 T +852 2839 9208
M +44 7920 010 978 M +852 6978 3011
Grant Donald
T +44 20 7781 1262
M +44 7920 587 805
Rio Tinto plc Rio Tinto Limited
2 Eastbourne Terrace 120 Collins Street
London W2 6LG Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
This information is provided by RNS
The company news service from the London Stock Exchange
END
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