| Fri 4 May 2007, 17:34 | | HVL - Highveld - Further Cautionary Announcement |
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HVL
HVL
HVL - Highveld - Further Cautionary Announcement
Highveld Steel and Vanadium Corporation Limited
Registration No. 1960/001900/06
(Incorporated in the Republic of South Africa)
Share code: HVL
ISIN code: ZAE000003422
("Highveld")
FURTHER CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the initial Cautionary Announcement published on
26 October 2005, as well as to subsequent Cautionary Announcements, relating to
the sale by Anglo American plc ("Anglo American") of its shareholding in
Highveld.
The attention of shareholders is drawn to the announcement issued today by Anglo
American recording the disposal of its remaining 29.2 per cent shareholding in
Highveld to the Evraz Group S.A. The Anglo American representatives that have
resigned as Directors of Highveld with immediate effect are Messrs DD Barber, I
Botha, CJ Colebank, GG Gomwe, A Harris and NB Mbazima. The Highveld Board
extends it appreciation for their contributions over the past years.
Shareholders are therefore advised to continue to exercise caution in their
dealings in Highveld shares and a further announcement will be made in due
course.
Emalahleni
4 May 2007
Sponsor:JP Morgan
"ANGLO AMERICAN PLC COMPLETES DISPOSAL OF HIGHVELD STEEL AND VANADIUM
CORPORATION LIMITED
[Date], 2007, Johannesburg - Anglo American plc ("Anglo American") is pleased to
announce the disposal of its remaining 29.2% shareholding in Highveld Steel and
Vanadium Corporation Limited ("Highveld") to the Evraz Group S.A. ("Evraz") for
$238m. Evraz was granted a call option, subject to regulatory approvals, over
this stake in July 2006, when Anglo American sold 49.8% of Highveld to Evraz and
Credit Suisse. Evraz advised that the requisite regulatory approvals had been
obtained and exercised the option.
This transaction has closed and marks the completion of Anglo American`s
disposal of its interest in Highveld. Since July 2006, Anglo American has
achieved proceeds of $678m, including the initial payment of $412m, dividends of
$28m and the final payment of $238m. Anglo American`s representatives have
resigned from the Highveld board.
Cynthia Carroll, Chief Executive of Anglo American, said "The completion of
Anglo American`s disposal of Highveld represents an important milestone in
implementing our strategy of re-focusing Anglo American on its core mining
business."
Notes to editors:
Anglo American is one of the world`s largest mining and natural resource groups.
With its subsidiaries, joint ventures and associates, it is a global leader in
platinum group metals, gold and diamonds, with significant interests in coal,
base and ferrous metals, industrial minerals and paper and packaging. The group
is geographically diverse, with operations in Africa, Europe, South and North
America, Australia and Asia. (www.angloamerican.co.uk)
Contacts:
Anglo American
London: Johannesburg:
Investor Relations Investor/Media Relations
Charles Gordon Anne Dunn
+44 20 7968 8933 +27 11 638 4730
+27 82 448 2684"
Media Relations
Pam Bell
+44 20 7968 8568
Date: 04/05/2007 17:34:45 Produced by the JSE SENS Department.
