Result of Takeover Offer to Acquire AWE Limited, an Oil and Gas Company in Australia

LONDON--()--

This announcement is for our U.S.$5,000,000,000 Euro Medium Term Note Programme.

Mitsui & Co., Ltd.

Result of Takeover Offer to Acquire AWE Limited,

an Oil and Gas Company in Australia

Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) is pleased to announce that the takeover offer (“Offer”) for all of issued shares of AWE Limited (“AWE”), pursuant to the release dated 5 February, 2018, was completed on 2 May, 2018.

1. Outline of the Offer

(1) Target Company
AWE Limited

(2) Number of Target Shares in the Offer
Target Shares:Ordinary Shares - 625,253,903 Shares (as of 30 January, 2018)

(3) Offer Period
From 12 February, 2018 to 2 May, 2018

(4) Offer Price
A$0.95 per share

2. Result of the Offer

The Offer was declared unconditional on 4 April, 2018, as Mitsui satisfied the 50.1% minimum acceptance condition, and was completed on 2 May, 2018.

(1) Acceptance Level

The number of Target Shares:   625,253,903 Shares
(as of 30 January, 2018)
The number of Target Shares accepted: 610,454,052 Shares

(2) Number of Target Shares and Percentage of Target Shares Held by Mitsui after the Offer
Number of Target Shares held before the Offer:
0 Shares (Percentage to the total issued shares: 0.0%)
(as of 30 January, 2018)

Number of Target Shares held after the Offer:
610,454,052 Shares (Percentage to the total issued shares: 96.47%)

Note 1) The percentage of shares held by Mitsui was calculated based on 632,800,634 shares (the total issued shares in the Target Company as at the closing date of the Offer, which reflects the conversion of Cash Share Rights into Shares as per our announcement dated 5 February).

(3) Total Amount of the Offer:
A$ 580 Million (Approximately ¥49.3 Billion)

3. Management Policy and Procedures to Take after the Offer

Mitsui has commenced the compulsory acquisition of all the remaining Target Shares and intends to delist AWE from the Australian Securities Exchange (“ASX”) by taking all the necessary procedures in accordance with ASX’s rules and Australia regulations. Those procedures are expected to be completed by the end of May 2018.
Mitsui will achieve its initial objectives, of building a strong portfolio of assets in Australia, and acquiring AWE’s operational capabilities, which will enable Mitsui to proactively expand its businesses.

4. Prospected Impact on the Business Results

We believe that the financial impact of the Offer to the fiscal year ended March 2018 and the fiscal year ending March 2019 should be limited.

For further information, please contact:
Mitsui & Co., Ltd.
Investor Relations Division Tel: +81-3-3285-7910
Corporate Communications Division Tel: +81-3-3285-7540

Notice:
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

For diagrams omitted, please see our home page.
(http://www.mitsui.com/jp/en/release/2018/1226191_11215.html)

Short Name: Mitsui & Co., Ltd.
Category Code: MSCU
Sequence Number: 646298
Time of Receipt (offset from UTC): 20180502T112715+0100

Contacts

Mitsui & Co Ltd

Contacts

Mitsui & Co Ltd