XTA update

I've just received this from Hargreaves Lansdown regarding the shares I have with Xstrata -

30th October 2012

Our Reference:

Dear



Xstrata Plc - Your holding of Shares - All-Share Merger Update



What is happening?

We are writing further to our letters dated 22nd June 2012 and 9th August 2012. The Boards of Xstrata Plc and Glencore International Plc announced they have reached agreement on the terms of an All-Share Merger, whereby Glencore International Plc will acquire Xstrata Plc. The General and Court Meetings to approve the Scheme which were to be held on 7th September 2012 were adjourned. The Companies previously reached agreement to amend the Management Incentive Arrangements under the terms of the Merger and have now announced the final revised terms of the Merger and have therefore reconvened the meetings which will now be held on 20th November 2012.



The Scheme will be effected under Part 26 of the Companies Act 2006. As a holder of Xstrata Plc Shares held within your Hargreaves Lansdown Vantage SIPP you have been offered 3.05 Glencore International Plc Shares for each Xstrata Plc Share held.



Do I need to take any action?

The All-Share Merger is subject to Shareholder approval at the reconvened General Meeting and Court Meeting on 20th November 2012 (and approval by Glencore International Plc Shareholders at a General Meeting on 20th November 2012). Unless you wish to register a vote before our noon Wednesday 15th November 2012 deadline then you do not need to take any action. You can give an instruction to vote over the telephone on 0117 900 9000 or via the Corporate Actions section of our website. PLEASE NOTE ANY PREVIOUS INSTRUCTION TO VOTE GIVEN BEFORE THE DATE OF THIS LETTER WILL BE DISREGARDED. YOU WILL NEED TO GIVE A NEW INSTRUCTION DUE TO THE AMENDMENT OF THE MERGER TERMS.


If approved at the above Meetings and at a Court Hearing (the date of which is yet to be announced) it is expected that the Scheme will become effective in the fourth quarter of 2012 with the new Glencore International Plc Shares issued the day after the effective date. The last day to trade your Xstrata Plc Shares will be two days before the effective date. You will be written to again when the dates for the Merger have been confirmed, or alternatively upon the Offer being amended or cancelled.