| Fri 28 Sep 2007, 17:00 | | HVL - Highveld Steel and Vanadium Corporation Limi |
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HVL
HVL
HVL - Highveld Steel and Vanadium Corporation Limited - Company Announcement
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
Company Announcement
Shareholders are referred to the Announcement issued on 1 August 2007 referring
to an announcement by Evraz Group S.A. ("Evraz") regarding a decision to
exercise the option and acquire Credit Suisse`s shareholding.
The attention of shareholders is now drawn to the announcement issued on 28
September 2007 by Evraz regarding the execution of the option to acquire Credit
Suisse`s shareholding. A copy of the text of the announcement is attached below
for information purposes.
Emalahleni
28 September 2007
Sponsor
J.P. Morgan Equities Limited
Evraz Increases its Stake in Highveld to 80.9%
September 28, 2007 - Further to its press release dated August 1, 2007, Evraz
Group S.A. (LSE: EVR) ("Evraz") announces that Evraz has executed the option to
acquire the remaining Credit Suisse shares in Highveld Steel and Vanadium
Corporation ("Highveld"). The consideration paid for the 24.9% stake is US$219
million.
Evraz now owns 80.9% of the entire issued share capital of Highveld.
###
For further information:
Evraz Group
Corporate Affairs and Investor Relations
Irina Kibina
Tel: +7 495 232 1370
IR@evraz.com
Evraz Group S.A. is one of the largest vertically-integrated steel and mining
businesses. In 2006, Evraz Group produced 16.1 million tonnes of crude steel.
Evraz Group`s principal assets include three of the leading steel plants in
Russia: Nizhny Tagil (NTMK) in the Urals region and West Siberian (Zapsib) and
Novokuznetsk (NKMK) in Siberia, as well as Palini e Bertoli in Italy, Evraz
Vitkovice Steel in the Czech Republic, and Evraz Oregon Steel Mills
headquartered in the USA. Its fast-growing mining businesses comprise Evrazruda,
the Kachkanarsky (KGOK) and Vysokogorsky (VGOK) iron ore mining complexes,
Yuzhkuzbassugol company and an equity interest in the Raspadskaya coal company.
The mining assets enable Evraz Group to be a vertically-integrated steel
producer. Evraz Group also owns and operates the Nakhodka commercial sea port,
in the Far East of Russia. Evraz vanadium operations comprise Strategic Minerals
Corporation, USA, and Highveld Steel and Vanadium Corporation, South Africa. For
further information visit www.evraz.com
Date: 28/09/2007 17:00:11 Produced by the JSE SENS Department.
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