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LyondellBasell announces final daily VWAP and final price cap of tender offer to purchase up to 37 mln of Its shares

July 10/2019

MOSCOW (MRC) -- LyondellBasell has 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 EUR0.04 per share, as per the company's press release.

The final Daily VWAP is USD87.3671 and the Final Price Cap for the tender offer is USD96.1038. 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 expired at one minute after 11:59 P.M., New York City time, on July 8, 2019.

As MRC wrote previously, in August 2016, LyondellBasell made the final investment decision to build a high density polyethylene (HDPE) plant on the US Gulf Coast. The plant will have an annual capacity of 1.1 billion pounds (500,000 metric tons) and will be the first commercial plant to employ LyondellBasell's new proprietary Hyperzone PE technology. The start-up of the new plant is scheduled for 2019.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 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, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.
Author:Margaret Volkova
Tags:PP, PE, HDPE, LyondellBasell, USA.
Category:General News
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