HOUSTON and LONDON, July 8,
2019 /PRNewswire/ -- LyondellBasell (NYSE:
LYB) (the "Company") today announced that it has
determined the final Daily VWAP and the Final Price Cap (each as
described below) pursuant to its previously announced tender offer
to purchase up to 37,000,000 of its issued and outstanding
ordinary shares, par value €0.04 per share (each, a
"Share," and collectively, "Shares").
The final Daily VWAP is $87.3671
and the Final Price Cap for the tender offer is $96.1038. As set forth in the offer to purchase,
the "Daily VWAP" is the daily per share volume-weighted
average price for Shares on the New York Stock Exchange, as defined
in more detail in the offer to purchase and the "Final Price
Cap" is a price that equals 110% of the Daily VWAP on the
Expiration Date of the tender offer.
The tender offer will expire at one (1) minute after
11:59 P.M., New York City time, on July 8, 2019 (the "Expiration
Date").
Since the Final Price Cap of $96.1038 is greater than $88.00, the greatest single per Share price that
the Company could pay for Shares properly tendered and not properly
withdrawn from the tender offer, the Final Price Cap will not
affect the single per Share price (the "Final Purchase
Price") the Company will pay for Shares properly tendered and
not properly withdrawn from the tender offer. The Final Purchase
Price will be the lowest single purchase price, not greater than
$88.00 nor less than $77.00 per Share that would allow the Company to
purchase 37,000,000 Shares, or all Shares properly tendered and not
properly withdrawn in the event that fewer than 37,000,000 Shares
are properly tendered and not properly withdrawn.
The information agent for the tender offer is Georgeson LLC. The
depositary for the tender offer is Computershare Trust Company,
N.A. The dealer managers for the tender offer are J.P. Morgan
Securities LLC and Morgan Stanley & Co. LLC. For all
questions relating to the tender offer, please call the information
agent, Georgeson LLC, toll-free at 1 (866) 300-8594; banks and
brokers may call either dealer manager, J.P. Morgan Securities LLC
at 1 (877) 371-5947 or Morgan Stanley & Co. LLC at 1 (855)
483-0952.
About LyondellBasell
LyondellBasell is one of
the largest plastics, chemicals and refining companies in the
world. Driven by its employees around the globe, LyondellBasell
produces materials and products that are key to advancing solutions
to modern challenges like enhancing food safety through lightweight
and flexible packaging, protecting the purity of water supplies
through stronger and more versatile pipes, improving the safety,
comfort and fuel efficiency of many of the cars and trucks on the
road, and ensuring the safe and effective functionality in
electronics and appliances. LyondellBasell sells products into more
than 100 countries and is the world's largest producer of polymer
compounds and the largest licensor of polyolefin technologies. In
2019, LyondellBasell was named to Fortune magazine's list of the
"World's Most Admired Companies." More information about
LyondellBasell can be found at www.LyondellBasell.com.
Additional Information Regarding the Tender Offer
This press release is for informational purposes only. This press
release is not a recommendation to buy or sell Shares or any other
securities of LyondellBasell, and it is neither an offer to
purchase nor a solicitation of an offer to sell Shares or any other
securities of LyondellBasell. LyondellBasell will be filing today a
tender offer statement on Schedule TO, including an offer to
purchase, a related letter of transmittal and other related
materials, with the United States Securities and Exchange
Commission (the "SEC"). The tender offer will only be made
pursuant to the offer to purchase, the related letter of
transmittal and other related materials filed as part of the issuer
tender offer statement on Schedule TO, in each case as may be
amended or supplemented from time to time. Shareholders should read
carefully the offer to purchase, the related letter of transmittal
and other related materials because they contain important
information, including the various terms of, and conditions to, the
tender offer. Shareholders will be able to obtain a free copy of
the tender offer statement on Schedule TO, the offer to purchase,
the related letter of transmittal and other related materials that
LyondellBasell will be filing with the SEC at the SEC's website
at www.sec.gov. In addition, free copies of these documents
may be obtained by contacting Georgeson LLC, the information agent
for the tender offer, toll-free at 1 (866) 300-8594.
Forward-Looking Statements
The statements in this
release relating to matters that are not historical facts are
forward-looking statements. These forward-looking statements are
based upon assumptions of management which are believed to be
reasonable at the time made and are subject to significant risks
and uncertainties. Actual results could differ materially based on
factors including, but not limited to: the business cyclicality of
the chemical, polymers and refining industries; the availability,
cost and price volatility of raw materials and utilities,
particularly the cost of oil, natural gas, and associated natural
gas liquids; competitive product and pricing pressures; labor
conditions; LyondellBasell's ability to attract and retain key
personnel; operating interruptions (including leaks, explosions,
fires, weather-related incidents, mechanical failure, unscheduled
downtime, supplier disruptions, labor shortages, strikes, work
stoppages or other labor difficulties, transportation
interruptions, spills and releases and other environmental risks);
the supply/demand balances for LyondellBasell's and
LyondellBasell's joint ventures' products, and the related effects
of industry production capacities and operating rates;
LyondellBasell's ability to achieve expected cost savings and other
synergies; LyondellBasell's ability to successfully execute
projects and growth strategies; any proposed business combination,
the expected timetable for completing any proposed transactions and
the receipt of any required governmental approvals, future
financial and operating results, benefits and synergies of any
proposed transactions and future opportunities for the combined
company; legal and environmental proceedings; tax rulings,
consequences or proceedings; technological developments, and
LyondellBasell's ability to develop new products and process
technologies; potential governmental regulatory actions; political
unrest and terrorist acts; risks and uncertainties posed by
international operations, including foreign currency fluctuations;
and LyondellBasell's ability to comply with debt covenants and
service LyondellBasell's debt. The accuracy of our expectations and
predictions is also subject to the following risks and
uncertainties: (1) our ability to complete the tender offer; (2)
the price and time at which we may make any additional share
repurchases following completion of the tender offer and the number
of shares acquired in such repurchases; and (3) changes in general
economic, business and political conditions, including the
possibility of intensified international hostilities, acts of
terrorism, and changes in conditions of the United States or international lending,
capital and financing markets. Additional factors that could cause
results to differ materially from those described in the
forward-looking statements can be found in the "Risk Factors"
section of LyondellBasell's Form 10-K for the year ended
December 31, 2018, which can be found
at www.LyondellBasell.com on the Investor Relations page and
on the Securities and Exchange Commission's website
at www.sec.gov.
Investor Contact: David
Kinney +1 713-309-7141
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SOURCE LyondellBasell Industries