Exhibit 99.1
company statement
| |
|
|
9 February 2007
|
|
For media enquiries please call Cameron Hamilton on:
Tel: (02) 8274 5304 or Mob: 0425 344 688. |
|
|
For analyst enquiries please call Steve Ashe on: |
|
|
Tel: (02) 8274 5246 Mob: 0408 164 011. |
James Hardie pays initial A$184.3 million to AICF
An initial payment of A$184.3 million was made to the Asbestos Injuries Compensation Fund
(AICF) by James Hardie today in accordance with the long-term funding arrangements endorsed by
security holders on 7 February 2007.
The transfer of the initial payment satisfies the final condition precedent to the Amended and
Restated Final Funding Agreement (Amended FFA). The commencement date for the Amended FFA becoming
fully operational is 9 February 2007.
The first annual payment is due on 1 July 2007.
The AICF will now assume the role of processing asbestos-related personal injury claims made
against certain former James Hardie group subsidiaries.
James Hardie Chairman Meredith Hellicar said: “We are delighted to have made the first payment to
the Fund under the agreement supported by our security holders this week. Like many, we have been
looking forward to making this a reality for a long time”.
“I’m sure this viewpoint will be shared by the many stakeholders who have worked with us to
finalise the funding arrangements.”
END
|
|
|
| |
|
|
| |
|
|
| Contact details are on the following page
|
|
1 of 2 |
Media Enquiries:
Cameron Hamilton
| |
|
|
Telephone:
|
|
61 2 8274 5304 |
Mobile:
|
|
61 425 344 688 |
Email:
|
|
[email protected] |
Facsimile:
|
|
61 2 8274 5218 |
Investor and Analyst Enquiries:
Steve Ashe — Vice President Investor Relations
| |
|
|
Telephone:
|
|
61 2 8274 5246 |
Mobile:
|
|
61 408 164 011 |
Email:
|
|
[email protected] |
Facsimile:
|
|
61 2 8274 5218 |
www.jameshardie.com
Disclaimer
This Company Announcement contains forward-looking statements. We may from time to time make
forward-looking statements in our periodic reports filed with or furnished to the United States
Securities and Exchange Commission on Forms 20-F and 6-K, in our annual reports to shareholders, in
offering circulars and prospectuses, in media releases and other written materials and in oral
statements made by our officers, directors or employees to analysts, institutional investors,
representatives of the media and others. Examples of forward-looking statements include:
| • |
|
expectations that the conditions precedent to the Final Funding Agreement will be satisfied; |
| • |
|
expectations about payments to a special purpose fund for the compensation of proven asbestos-related personal injury
and death claims; |
| • |
|
expectations concerning the Australian Tax Office amended assessment; |
| • |
|
expectations that our credit facilities will be extended or renewed; |
| • |
|
projections of our operating results or financial condition; |
| • |
|
statements regarding our plans, objectives or goals, including those relating to competition, acquisitions,
dispositions and our products; |
| • |
|
statements about our future performance; and |
| • |
|
statements about product or environmental liabilities. |
Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,”
“predict,” “forecast,” “guideline,” “should,” “aim” and similar expressions are intended to
identify forward-looking statements but are not the exclusive means of identifying such statements.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number
of important factors could cause actual results to differ materially from the plans, objectives,
expectations, estimates and intentions expressed in such forward-looking statements. These factors,
some of which are discussed under “Risk Factors” beginning on page 5 of our Form 20-F filed on 29
September 2006 with the Securities and Exchange Commission, include but are not limited to: all
matters relating to or arising out of the prior manufacture of products that contained asbestos by
current and former James Hardie subsidiaries; compliance with and changes in tax laws and
treatments; competition and product pricing in the markets in which we operate; the consequences of
product failures or defects; exposure to environmental, asbestos or other legal proceedings;
general economic and market conditions; the supply and cost of raw materials; the success of our
research and development efforts; our reliance on a small number of product distributors;
compliance with and changes in environmental and health and safety laws; risks of conducting
business internationally; compliance with and changes in laws and regulations; foreign exchange
risks; the successful implementation of new software systems; and the successful implementation of
the internal control over financial reporting requirements of Section 404 of the Sarbanes-Oxley Act
of 2002, as codified by Item 308 of regulation S-K. We caution you that the foregoing list of
factors is not exhaustive and that other risks and uncertainties may cause actual results to differ
materially from those in forward-looking statements. Forward-looking statements speak only as of
the date they are made.
2 of 2