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Demerger of South32 Completion of the Sale Facility

BHP Billiton advises that following completion of the demerger of South32, the sale of the South32 Shares attributable to Selling Shareholders (being Small Shareholders who elected to participate in the Sale Facility) and Ineligible Overseas Shareholders, as detailed in section 7.12 of the Shareholder Circular dated 16 March 2015, has been completed.

Goldman Sachs Australia Pty Limited was engaged as the Sale Agent.

The volume-weighted average price (VWAP) of the South32 Shares sold was A$2.07358452.

The following table details the currency exchange rates applicable to the remittance of proceeds from the sale of the South32 Shares:

​VWAP of South32 Shares sold A$2.07358452
Exchange rate
Price of South32 Share sold in local currency
US cents 0.7705 159.769687
​British pence 0.4895 101.501962
New Zealand cents 1.1335 235.040805
South African cents 9.3500 1938.801526

Proceeds will be distributed to participating Small Shareholders and Ineligible Overseas Shareholders on 10 July 2015 in the currency elected in the Selling Shareholder’s or Ineligible Overseas Shareholder’s standing dividend currency election, or if an election was not made before the relevant Record Date, in the currency in which the Selling Shareholder is paid their BHP Billiton dividend.

For more information, please see our Exchange Release.