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http://www.ft.com/cms/s/0/31477586-fd0c-11e4-ae31-00144feabdc0.html#ixzz3aSmQWQPM May 18, 2015 4:49 am ' BHP-Billiton spin-off receives lukewarm reception on debut ' ‘South32 opened at A$2.13 a share and rose to A$2.20, giving the mining company a market capitalisation of A$11.3bn (US$9bn) on the Australian Stock Exchange.… ' Shares in BHP, the world’s biggest miner by market capitalisation, fell $1.97 to $30.52 in early action, but once adjusted to account for the absence of the South32 assets the stock was down 0.5 per cent at A$30.21. ' South32 will list in London and South Africa later on Monday. ' By my Calc to UK ' BHP @ A$30.21 = 1504.08p S32 _@ A$2.20 = 122.00p

http://www.ft.com/cms/s/0/31477586-fd0c-11e4-ae31-00144feabdc0.html#ixzz3aSmQWQPM ' Brief extracts ' May 18, 2015 4:49 am BHP-Billiton spin-off receives lukewarm reception on debut ‘ South32 opened at A$2.13 a share and rose to A$2.20, giving the mining company a market capitalisation of A$11.3bn (US$9bn) on the Australian Stock Exchange. … Shares in BHP, the world’s biggest miner by market capitalisation, fell $1.97 to $30.52 in early action, but once adjusted to account for the absence of the South32 assets the stock was down 0.5 per cent at A$30.21. … South32 will list in London and South Africa later on Monday. ' By my Calc to UK ' BHP @ A$30.21 = 1504.08p S32 _@ A$2.20 = 122.00p

CNBC report that taking over a billion out of Capex this year and CNBC expect share price action today. ' Details on company web site with extract below ' http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Superior-Cash-Returns-and-Growth-Through-the-Cycle.aspx '... support its progressive dividend over both the short and long term. '... “The potential benefits are substantial. We expect to cut unit costs at Western Australia Iron Ore by 21 per cent1, 2 to US$16 per tonne during the 2016 financial year. Unit costs at Escondida are expected to fall by 16 per cent on a grade adjusted basis. And we expect drilling costs per well in the Black Hawk to average US$2.9 million – a reduction of 20 per cent.” ' Mr Mackenzie said capital and exploration expenditure would fall to US$9 billion2 in the 2016 financial year from US$12.6 billion in 2015. ' ... concludes , we expect to offer our shareholders superior returns

Recent RNS re demerger extract ' A share sale facility has been established for certain eligible shareholders who hold 10,000 or fewer BHP Billiton shares. These shareholders may elect to have all the South32 Limited shares they receive sold by the sale agent with the proceeds remitted to them following the demerger. ' South32 Limited shares will not be distributed to ineligible shareholders. Instead, South32 Limited shares which these shareholders would otherwise have been entitled to receive will be transferred to the sale agent to be sold with the proceeds remitted to them following the demerger. ' NOT SURE HOW THIS WILL WORK OUT for a small private investor ???

Talks of possible acquisition in RNS Orchid Group, which owns the Great British Cavery chain among others, is headquartered in St Albans and has been owned by the real estate arm of Deutsche Bank since 2012 following a restructure which saw the exit of previous owner, private equity firm GI Partners. In 2012, it posted sales of £178 million but a pre-tax loss of £12 million. Local pub company. Born on June 25th 2006, the sixth-largest managed pub and restaurant company in the UK, with over 5,000 employees nationwide. The company is led by CEO Rufus Hall. ‘ Ovver 240 pubs and restaurants across seven concepts: ‘ •Free House Dining o Family-friendly pubs known for value where quality and service are standard. o Our brand new concept “All-Inn’s” is leading our investment strategy in this segment of the market •Carveries o Re-inventing the Great British favourite through quality fresh food, British produce and meats, modern design, excellent staff and a commitment to attention to detail. •Pizza Kitchen Bars o An eclectic mix of bars and pubs offering delicious fresh pizza, handmade each day with our special dough, and combining great cocktails, DJs and live music. •Do Drop Inn’s o Proper pubs with quality award winning cask ales, classic British food, a landlord who knows your name and favourite drink and all sorts of community events. •Independent Local o Pubs that aims to be at the heart of their community, with excellent food, a wide range of drinks, Sky Sports and pool tables. •Dragons o A unique combination of exotic Thai restaurants and the great British pub, both under one roof. •The Oriental Restaurant Group o The best fresh Oriental restaurants in London.

Possible purchase of Boston based Numeric LLC 29th May 2014 • Founded 1989 • Over $13.9 billion in assets1, 74 employees • Privately owned with significant employee stake • 47 institutional clients • Long-only, active extension, and market neutral strategies • ABOUT NUMERIC Numeric Investors is a leader in the development and implementation of quantitative investment techniques focused on generating alpha for our clients.

My Guess based on preliminary details is They announce $750 million special dividend in Q1 to be paid in July. My Guess is for 256.09 shares this equals $2,92 per share or roughly £1.75p per share. Also suggest consolidation is to be reported. ' Full details expected after AGM today The Annual General Meeting will be held at 11.00am (UK time) on Friday 2 May 2014 at InterContinental London Park Lane, One Hamilton Place, Park Lane, London W1J 7QY