Bidder's Statement (Cash offer by Atacama Copper) - Antofagasta plc

Send your Acceptance Form
Send your Acceptance Form and other documents (if any) required by
the instructions on the Acceptance Form to:
Post:
OR
Delivery:
Closing Date
Key conditions of the Offer
When you will be paid
No brokerage or stamp duty
Antofagasta Offer
Link Market Services Limited
GPO Box 2785
MELBOURNE VIC 3001
Antofagasta Offer
Link Market Services Limited
Level 4,333 Collins Street
MELBOURNE VICTORIA 3000
The Offer is scheduled to close at 7.00pm Sydney, Australia time on
11 April 2006.
The Offer is subject to the conditions set out in clause 7 of Part 2 of the
Bidder's Statement. They broadly include:
• Atacama acquiring a relevant interest in at least 90% of all
Tethyan Shares;
• all Tethyan Options have been exercised, cancelled or
transferred to Antofagasta PLC or Atacama or, in the
alternative, Atacama being entitled to compulsorily acquire all
options outstanding at the end of the Offer Period;
• all necessary regulatory approvals, including FIRB clearance
and approvals necessary for the transfer of the Regional
Interests (other than RL 7) to Tethyan, being obtained;
• no material adverse change in relation to Tethyan;
• no 'prescribed occurrences' occurring (except for the issue of
Tethyan Shares as a result of the exercise of any Tethyan
Options that are on issue at the Announcement Date or due to a
Permitted Issue);
• no action by any public authority adversely affecting the Offer;
• Atacama promptly being provided with any due diligence
information in relation to Tethyan provided to another party for
the purpose of facilitating a competing proposal;
• no person being entitled to exercise specified rights on a
change of control of Tethyan;
• no material acquisitions, disposals or commitments by Tethyan
and the business of Tethyan being otherwise carried on in the
ordinary course; and
• no agreement by Tethyan to pay any break fees to any person
in connection with a competing bid or proposal.
The above is a summary only and full details of all the conditions are
set out in clause 7 of Part 2 of the Bidder's Statement.
If you accept (and return any document required with your acceptance)
and this Offer becomes or is declared unconditional, a cheque will be
mailed to you by the earlier of one month after the Offer becomes
unconditional (or if the Offer was unconditional when you accepted the
Offer, within one month of the date of your acceptance) and 21 days
after the end of the Offer Period.
You will not pay brokerage or stamp duty if you accept the Offer.
page 3