Global Alumina Announces Results of Substantial Issuer Bid


    TORONTO, Aug. 18 /CNW/ -- Global Alumina Corporation (TSX: GLA.U) (the
"Company" or "Global Alumina"), a corporation participating in a joint venture
to develop an alumina refinery, mine and associated infrastructure in the
bauxite-rich region of the Republic of Guinea (the "Project"), announced today
the final results of its Dutch auction substantial issuer bid dated July 10,
2009 ("the Offer").  The Offer expired at 5:00 p.m. (Toronto time) on August
17, 2009.

    Based on the final report provided by Computershare Investor Services
Inc., the depositary for the Offer, a total of 14,240,700 shares were validly
deposited and not withdrawn under the Offer and the highest purchase price
indicated under tenders was US$0.65 per share.  Pursuant to the terms of the
Offer, Global Alumina will take up shares at a purchase price of US$0.65, the
highest offered price.

    As the aggregate value of shares deposited at the purchase price of
US$0.65 per share exceeds the US$8,000,000 maximum value of consideration
payable by the Company pursuant to the Offer, 12,307,692 shares will be taken
up by Global Alumina and a pro ration factor of 0.864 will apply to deposited
shares, except for odd lot deposits, which are not subject to pro ration.

    Payment for all shares purchased will be made as soon as practicable in
accordance with the Offer.  The purchased shares represent approximately 6.3%
of the outstanding shares of the Company.  After cancellation of these shares,
Global Alumina will have 183,331,495 shares remaining outstanding.

    Global Alumina estimates that its paid up capital for purposes of the Tax
Act (Canada) is approximately US$1.476 per share and shareholders tendering to
the Offer will not be deemed to receive a dividend upon payment for their

    Bruce Wrobel, Global Alumina's Co-Chairman and CEO, stated, "We are
pleased both to have provided liquidity to those shareholders tendering to the
offer and to have received the strong endorsement of remaining shareholders of
the Company's view that the recent trading prices of the Company's shares are
not reflective of their underlying value."

    About Global Alumina

    Global Alumina and its joint venture partners are developing a 3.6
million metric tons per annum
    nominal capacity alumina refinery located in the bauxite-rich region of
the Republic of Guinea. The joint venture partners in the Project are Global
Alumina International, Ltd., a wholly owned subsidiary of the Company, BHP
Billiton, Dubai Aluminium Company Limited and Mubadala Development Company
PJSC. The Project is one of the most advanced new projects in Guinea with the
refinery already in feasibility stage and critical path infrastructure and
site work already underway. Global Alumina is positioned to be one of the only
companies focused solely on alumina production and sales. The Company offers a
first mover advantage over other projects in the region and an opportunity for
socially responsible investing in a country that holds over one-third of the
world's bauxite resources. Global Alumina's registered office is in Saint
John, New Brunswick and Global Alumina has administrative offices in New York
and Montreal.  For further information visit the company's website at


For further information:

For further information: Michael Cella of Global Alumina,
+1-212-351-0010,; or Barbara Cano of Breakstone Group,
+1-646-452-2334,, for Global Alumina Web Site:

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Global Alumina Corporation

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