Edition:
India

Vedanta Resources PLC (VED.L)

VED.L on London Stock Exchange

848.40GBp
16 Aug 2018
Change (% chg)

1.80 (+0.21%)
Prev Close
846.60
Open
847.80
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848.80
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843.20
Volume
523,793
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1,246,627
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981.80
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624.60

Latest Key Developments (Source: Significant Developments)

Chairman Agarwal Makes Firm Offer To Buy Rest Of Vedanta
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Vedanta Resources Plc ::RECOMMENDED CASH OFFER.INDEPENDENT COMMITTEE OF VEDANTA BOARD, VOLCAN ANNOUNCE TERMS OF CASH OFFER TO BE MADE BY VOLCAN FOR REMAINING ISSUED, TO BE ISSUED VEDANTA SHARE CAPITAL.UNDER TERMS OF OFFER, VEDANTA SHAREHOLDERS WILL RECEIVE: US$10.89 PER SHARE IN CASH FOR EACH VEDANTA SHARE.OFFER PRICE IMPLIES AN EQUIVALENT VALUE OF 825 PENCE PER VEDANTA SHARE BASED ON EXCHANGE RATE OF £:US$ OF 1.3203 AS AT 29 JUNE 2018.OFFER VALUES TOTAL ISSUED SHARE CAPITAL OF VEDANTA RESOURCES AT APPROXIMATELY US$3,070 MILLION.OFFER VALUES TOTAL ISSUED SHARE CAPITAL NOT CURRENTLY OWNED BY VOLCAN INVESTMENTS AT APPROXIMATELY US$1,028 MILLION.IN ADDITION, VEDANTA SHAREHOLDERS TO RECEIVE DIVIDEND OF US$0.41 PER VEDANTA SHARE IN RESPECT OF TWELVE MONTHS ENDED 31 MARCH 2018.TAKEN TOGETHER, OFFER PRICE AND FY2018 DIVIDEND IN AGGREGATE REPRESENT A TOTAL VALUE OF US$11.30 PER SHARE.  Full Article

Vedanta Resources Says To Postpone 2018 AGM After Volcan Offer For Vedanta
Tuesday, 17 Jul 2018 

July 17 (Reuters) - Vedanta Resources PLC ::DIVIDEND FOR FY 2018 AND POSTPONEMENT OF AGM.DIVIDEND FOR FINANCIAL YEAR ENDED 31 MARCH 2018 AND POSTPONEMENT OF AGM.DUE TO POSSIBLE OFFER ANNOUNCED ON 2 JULY BY VOLCAN INVESTMENTS FOR VEDANTA, CO WILL POSTPONE ITS 2018 AGM UNTIL FURTHER NOTICE.IN LIGHT OF FY2018 DIVIDEND TO BE PAID OUT, CO DOESN'T ANTICIPATE RECOMMENDING FURTHER DIVIDEND IN RESPECT OF FY ENDED MARCH 31 2018.DIRECTORS RESOLVED DIVIDEND PROPOSED TO BE APPROVED AT AGM WILL INSTEAD BE MADE TO SHAREHOLDERS AS INTERIM DIVIDEND OF US 41 CENTS.  Full Article

Vedanta Ltd Identified As 'H1 Qualified Interested Bidder' In GCEL Consortium Bid Process
Friday, 13 Jul 2018 

July 13 (Reuters) - Vedanta Resources PLC ::UPDATE FROM VEDANTA LIMITED.VEDANTA LTD IDENTIFIED AS 'H1 QUALIFIED INTERESTED BIDDER' PER BID PROCESS OF GCEL CONSORTIUM.VEDANTA LTD IDENTIFIED AS 'H1 QUALIFIED INTERESTED BIDDER' FOR SALE OF CONTROLLING EQUITY STAKE AND RESTRUCTURING OF DEBT IN GCEL.  Full Article

Vedanta Resources Says Reaches Agreement For Volcan Investments To Buy Co
Monday, 2 Jul 2018 

July 2 (Reuters) - Vedanta Resources PLC ::RECOMMENDED POSSIBLE OFFER FOR VEDANTA RESOURCES.INDEPENDENT COMMITTEE OF CO'S BOARD, VOLCAN REACHED AGREEMENT IN PRINCIPLE ON TERMS OF POSSIBLE RECOMMENDED OFFER TO BE MADE BY VOLCAN AT 825 PENCE/SHARE.SHAREHOLDERS WILL ALSO BE ENTITLED TO GET PREVIOUSLY ANNOUNCED DIVIDEND OF US$0.41/VEDANTA SHARE IN RESPECT OF 12 MONTHS ENDED 31 MARCH 2018.OFFER PRICE OF 825 PENCE PER SHARE VALUES TOTAL ISSUED SHARE CAPITAL OF VEDANTA AT £2,325 MILLION.INDEPENDENT COMMITTEE WAS FORMED TO REVIEW AND EVALUATE THAT PROPOSAL; DECIDED TO ENGAGE IN NEGOTIATIONS WITH VOLCAN.OFFER PRICE OF 825 PENCE PER SHARE VALUES ISSUED SHARE CAPITAL CAPITAL OF VEDANTA NOT CURRENTLY OWNED BY VOLCAN AT £778 MILLION.INDEPENDENT COMMITTEE INDICATED TO VOLCAN SUPPORTS POSSIBLE OFFER, INTENDS TO RECOMMEND FIRM OFFER.  Full Article

Vedanta Ltd Says Electricity Supply Disconnected At Co's Thoothukkudi Plant
Thursday, 24 May 2018 

May 24 (Reuters) - Vedanta Ltd ::VEDANTA LTD SAYS TAMIL NADU POLLUTION CONTROL BOARD ORDERED DISCONNECTION OF ELECTRICITY SUPPLY TO CO'S COPPER SMELTER PLANT AT THOOTHUKKUDI DISTRICT, TAMIL NADU.VEDANTA LTD SAYS THOOTHUKKUDI PLANT WAS NOT OPERATING SINCE MARCH 27, 2018.  Full Article

Vedanta Ltd Says Indian Court Orders Authority To Decide On Green Nod For Copper Plant By Sept 23
Wednesday, 23 May 2018 

May 23 (Reuters) - Vedanta Ltd ::MADRAS HIGH COURT ISSUES ORDER ON RENEWAL OF ENVIRONMENT CLEARANCE FOR COPPER SMELTER PLANT 2 PROJECT .HIGH COURT ORDERED CO TO CEASE CONSTRUCTION, OTHER ACTIVITIES ONSITE FOR PROPOSED COPPER SMELTER PLANT 2 PROJECT WITH IMMEDIATE EFFECT.MADRAS HIGH COURT STATED APPLICATION FOR RENEWAL OF ENVIRONMENT CLEARANCE TO BE PROCESSED AFTER CONDUCT OF PUBLIC HEARING.MADRAS HC STATED APPLICATION FOR RENEWAL OF ENVIRONMENT CLEARANCE SHALL BE DECIDED BY COMPETENT AUTHORITY ON OR BEFORE SEPT 23, 2018.  Full Article

Vedanta Resources Says Revenue Up 33 Pct To $15.4 Billion
Wednesday, 23 May 2018 

May 23 (Reuters) - Vedanta Resources Plc ::FY REVENUE 15.4 BILLION USD.FY EBITDA AT US$4.1 BILLION, UP 27 PCT (FY2017: US$3.2 BILLION).SAYS FY REVENUE INCREASED BY 33 PCT TO US$15.4 BILLION (FY2017: US$11.5 BILLION).SAYS FY EBITDA AT US$4.1 BILLION, UP 27 PCT.FINAL DIVIDEND ANNOUNCED OF US CENTS 41 PER SHARE (TOTAL DIVIDEND OF US CENTS 65 PER SHARE), WITH A YIELD OF 6 PCT.SAYS FY ADJUSTED EBITDA MARGIN OF 35 PCT (FY2017: 36 PCT).SAYS FYN NET DEBT AT US$ 9.6 BILLION (FY2017: US$ 8.5 BILLION).COMPANY IS WORKING WITH RELEVANT REGULATORY AUTHORITIES TO EXPEDITE RESTART OF OPERATIONS IN TAMIL NADU.SAYS FINAL DIVIDEND ANNOUNCED OF US CENTS 41 PER SHARE.BELIEVE THAT MARKET ENVIRONMENT ENJOYED IN FY2018 WILL ALSO CHARACTERISE FY2019.PERFORMANCE IN FY2019 WILL BE EVEN STRONGER.EXPECT TO INCREASE INVESTMENTS YEAR-ON-YEAR.SAYS ON TRACK FOR RAMP-UP OF MINED METAL TO 1.2MT BY FY2020 FOR ZINC INDIA.  Full Article

Vedanta Resources Has Appointed South African-Born Deshnee Naidoo To Lead Its African Operations- FT
Tuesday, 15 May 2018 

May 15 (Reuters) - :INDIAN MINER VEDANTA RESOURCES HAS APPOINTED SOUTH AFRICAN-BORN DESHNEE NAIDOO TO LEAD ITS AFRICAN OPERATIONS- FT.DESHNEE NAIDOO WILL OVERSEE VEDANTA'S COPPER AND ZINC MINES IN ZAMBIA, SOUTH AFRICA, NAMIBIA AND TASMANIA - FT.  Full Article

Vedanta Resources Names Deshnee Naidoo As CEO Of Africa Base Metals
Tuesday, 15 May 2018 

May 15 (Reuters) - Vedanta Resources PLC ::SAYS APPOINTMENT OF DESHNEE NAIDOO, AS THE CHIEF EXECUTIVE OFFICER – AFRICA BASE METALS.VEDANTA SAYS NAIDOO WILL COMBINE LEADERSHIP OF KONKOLA COPPER MINES , IN ZAMBIA, VEDANTA ZINC INTERNATIONAL IN SOUTH AFRICA & NAMIBIA AND COPPER MINES OF TASMANIA.  Full Article

Vedanta Resources Appoints Srinivasan Venkatakrishnan As Chief Executive Officer
Monday, 16 Apr 2018 

April 16 (Reuters) - Vedanta Resources PLC ::APPOINTMENT OF CEO AND EXECUTIVE DIRECTOR.ANNOUNCE APPOINTMENT OF SRINIVASAN VENKATAKRISHNAN (VENKAT) AS CHIEF EXECUTIVE OFFICER.VENKATAKRISHNAN SUCCEEDS KULDIP KAURA, CURRENT INTERIM CEO.  Full Article

Vedanta's suspends operations at Zambian unit after worker killed in accident

LUSAKA Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine was stopped after one miner was killed in an underground accident to allow for investigations into the incident, the company said.