Rio Tinto Completes A$750m Off-Market Buy-Back

Rio Tinto has successfully completed its off-market buy-back of Rio Tinto Limited shares, which was increased to A$750 million from the indicative A$700 million announced due to strong demand. The Buy-Back Price was A$63.67 per Share which represented a discount of 14 per cent to the Market Price.

The Rio Tinto Limited Buy-Back was announced to the Australian Securities Exchange (“ASX”) on 22 September 2017 as part of a US$2.5 billion share buy-back programme, returning the proceeds from the sale of Coal & Allied to Rio Tinto shareholders.

Rio Tinto Limited bought back approximately 11.8 million Shares, at an aggregate cost of A$750 million (US$575 million). This represents 2.78 per cent of Rio Tinto Limited’s issued ordinary share capital (or 0.66 per cent of the Rio Tinto Group’s issued ordinary share capital). Following completion, Rio Tinto Limited’s issued share capital will stand at 412,414,348 shares.

The portion of the Programme relating to the on-market buy-back of Rio Tinto plc shares will now total a maximum amount of US$1,925 million and will commence on 27 December 2017 and will be completed no later than 31 December 2018. As previously announced, Rio Tinto plc has entered into a separate non-discretionary irrevocable instruction for an aggregate maximum consideration of up to $300 million for the period between 27 December 2017 and 28 February 2018 as part of the on-market portion of the Programme.


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