News: NCM Newmont To Enter Into Confirmatory Due Diligence On Newcrest

April 10 (Reuters) - Newmont Corporation NEM.N :

• TO ENTER INTO CONFIRMATORY DUE DILIGENCE ON NEWCREST
• ACQUIRE 100 PERCENT OF ISSUED SHARE CAPITAL OF NEWCREST BY WAY OF AN AUSTRALIAN SCHEME OF ARRANGEMENT
• NEWCREST WOULD HAVE RIGHT TO FUND AND PAY TO ITS SHAREHOLDERS A SPECIAL DIVIDEND OF UP TO USD$1.10 PER NEWCREST SHARE.
• NEWCREST HAS INDICATED IT INTENDS TO GRANT EXCLUSIVITY TO NEWMONT DURING DUE DILIGENCE PERIOD, WITH TERMS OF EXCLUSIVITY STILL TO BE AGREED
• UNDER TERMS, NEWCREST SHAREHOLDERS WOULD OWN APPROXIMATELY 31 PERCENT OF COMBINED COMPANY
• INTENDS TO APPLY FOR FOREIGN EXEMPT LISTING ON AUSTRALIAN SECURITIES EXCHANGE (ASX)
• STRENGTHEN ITS PORTFOLIO BY INCREASING ANNUAL COPPER PRODUCTION AND ADDING NEARLY 50 BILLION POUNDS OF COPPER RESERVES
• DUE DILIGENCE IS EXPECTED TO BE COMPLETED WITHIN APPROXIMATELY FOUR WEEKS
• NEWCREST WILL ALSO UNDERTAKE CONFIRMATORY DUE DILIGENCE ON NEWMONT DURING THIS PERIOD