Feb 26 (Reuters) - Alumina Ltd (AWC) : ALUMINA AND ALCOA ENTER...

Feb 26 (Reuters) - Alumina Ltd (AWC) :

• ALUMINA AND ALCOA ENTER INTO EXCLUSIVITY DEED
• RECEIVED A NON-BINDING, INDICATIVE AND CONDITIONAL PROPOSAL FROM ALCOA CORPORATION TO BUY 100% OF ORDINARY SHARES ON ISSUE IN ALUMINA
• DEAL FOR SCRIP CONSIDERATION OF 0.02854 SHARES OF ALCOA COMMON STOCK FOR EACH ALUMINA SHARE
• ALUMINA BOARD HAS CONFIRMED MANAGING DIRECTOR AND CEO INTEND TO RECOMMEND TO ALUMINA SHAREHOLDERS TO VOTE IN FAVOUR OF PROPOSAL
• ALUMINA ENTERED TRANSACTION PROCESS AND EXCLUSIVITY DEED WITH ALCOA WHICH GRANTS ALCOA A 20 BUSINESS DAY PERIOD OF EXCLUSIVITY
• ALCOA INFORMED ALUMINA THAT ALLAN GRAY AUSTRALIA HAS ENTERED INTO AN AGREEMENT WITH ALCOA
• ALUMINA BOARD NOTES THAT THERE IS NO CERTAINTY THAT PROPOSAL WILL RESULT IN A BINDING OFFER FOR ALUMINA
• AGREEMENT WITH ALLAN GRAY AUSTRALIA GIVES ALCOA RIGHT TO BUY UP TO 19.9% OF ALUMINA FOR 0.02854 ALCOA SHARES