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London Metal Exchange Shareholders Vote in Favour of Acquisition by HKEx

Corporate
25 Jul 2012

Hong Kong Exchanges and Clearing Limited (HKEx) is pleased to learn that the ordinary shareholders of LME Holdings Limited (LME Holdings), the parent company of The London Metal Exchange Limited (LME), have approved, at a court meeting and an extraordinary general meeting of LME Holdings today (Wednesday), all the resolutions required in connection with the proposed scheme of arrangement to implement the acquisition of LME Holdings by HKEx.

Following the meeting, HKEx Chief Executive Charles Li and LME Holdings and LME Chief Executive Martin Abbott made statements regarding the vote.

Charles Li said: "I'd like to thank the shareholders of the LME for their support in welcoming this acquisition. Our shared vision for global leadership in the commodities market will allow us to respectfully build on the proud heritage of this unique institution. HKEx's ability to help the LME grow its business in Asia and beyond provides significant opportunities for both parties and will deliver value for all of our stakeholders."

Martin Abbott said: "I am delighted that our shareholders have overwhelmingly supported the board's recommendation. The deal with HKEx, Asia’s leading exchange, will secure the LME's position as the world’s foremost metals trading venue."

More details on the vote are available in the regulatory announcement issued by HKEx today.

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HKEx CEO Charles Li and LME CEO Martin Abbott meet at the LME “Ring”.


Ends

Updated 25 Jul 2012

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