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HVL
HVL
HVL - Highveld Steel and Vanadium Corporation Limited - Further Cautionary
Highveld Steel and Vanadium Corporation Limited
Registration No. 1960/001900/06
(Incorporated in the Republic of South Africa)
("Highveld")
Share code: HVL
ISIN code: ZAE000003422
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 to
Evraz Group S.A. ("Evraz").
The attention of shareholders is drawn to the announcement issued today by Evraz
regarding the offer to minority shareholders and the posting of an offer
document. The Board is in the process of formulating a response which is to be
made within fourteen days and shareholders are therefore advised to continue to
exercise caution until a further announcement is made.
Emalahleni
4 June 2007
Sponsor:
J.P. Morgan Equities Limited
"GEN - Evraz Group S.A posts offer document to shareholders of Highveld Steel
and Vanadium Corporation Limited
EVRAZ GROUP S.A
LSE SHARE CODE: EVR
Evraz Group S.A posts offer document to shareholders of Highveld Steel and
Vanadium Corporation Limited.
Evraz Group S.A (Evraz) is pleased to advise shareholders of Highveld Steel and
Vanadium Corporation Limited (Highveld) that Evraz has today posted the document
containing its offer to Highveld shareholders (offer). In that offer document,
Evraz offers unconditionally to acquire the entire issued share capital of
Highveld, other than those shares already held by Evraz, for a consideration of
US$11.40 per Highveld share. The consideration of US$11.40 per Highveld share
is to be converted to and payable in cash in South African Rands on the basis of
the average of the 16h00 London US$:ZAR currency exchange rates as quoted by
Reuters and published on FT.com and in the Financial Times newspaper over the
five consecutive business days ending on (and including) the day prior to the
closing date, which shall be calculated and announced by Evraz on the closing
date.
The offer opens today at 09h00 (South African time) and closes at 17h00 (South
African time) on the closing date, being 4 July 2007 (unless otherwise extended
by Evraz). Evraz expects Highveld to circulate its views on the offer within
fourteen days after the date of this announcement.
Evraz is one of the largest vertically integrated steel and mining businesses
with operations in Russia, Italy, the Czech Republic, the United States, Canada
and South Africa. In 2006, Evraz produced 16.1 million tonnes of crude steel.
Evraz also produces vanadium-bearing steel slag as a by-product of its Russian
steel making activities.
The offer is not being made, directly or indirectly, in or into the United
States (or any restricted jurisdiction), or by use of the United States (or any
restricted jurisdiction) mails, or by any means or instrumentality (including,
without limitation, the post, facsimile transmission, telex and telephone or
electronic transmission by way of the internet or otherwise) of interstate or
foreign commerce of the United States (or any restricted jurisdiction), or of
any facility of a securities exchange of the United States (or any restricted
jurisdiction). The offer cannot be accepted by any such use, means or
instrumentality or from within the United States (or any restricted
jurisdiction). No US person (or any person resident or located within a
restricted jurisdiction), and no person acting for the account or benefit of any
US person (or any person resident or located within a restricted jurisdiction)
shall be permitted to accept the offer.
This communication is not an extension of the offer in the United States (or any
restricted jurisdiction).
4 June 2007
Attorneys to Evraz: Werksmans Attorneys"
Date: 04/06/2007 16:40:25 Produced by the JSE SENS Department.
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