The announcement today is an intention to make an offer. It is expected that an offer will be made in 28 days. That offer will be open for a certain period of time governed by the UK rules (3-6 weeks), following which the process will be completed.
Volcan has the financing for the offer lined up and will announce details before the formal offer.
Is the decision to do this related to factors like the Sterlite incident in India and other protests elsewhere?
No link at all. This is driven by the desire to simplify the corporate structure.
Which companies and sectors has Volcan already invested? Besides you, who are the other beneficiaries of the trust?
Volcan is a private company and, therefore, it’s make up is not public. However, other than mining (Vedanta and Anglo), Volcan also has investment in fibre optics and power transmission.
How will Vedanta Resources Plc independent shareholders exit?
While taking another significant step towards group simplification, we wanted to ensure that the independent shareholders of Vedanta Resources Plc were provided with the opportunity to exit on attractive terms, and I believe this possible offer will deliver on that objective.