HVL - Highveld - Announcement Relating To The Disp
HVL
HVL
HVL - Highveld - Announcement Relating To The Disposal Of Certain
Vertically Integrated Vanadium Assets Of Highveld
Highveld Steel and Vanadium Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1960/001900/06)
JSE share code: HVL
ISIN: ZAE000003422
("Highveld" or "the company")
ANNOUNCEMENT RELATING TO THE DISPOSAL OF CERTAIN VERTICALLY INTEGRATED
VANADIUM ASSETS OF HIGHVELD
In a circular dated 19 June 2007, Highveld shareholders were advised that
Highveld is obliged to dispose of certain vertically integrated vanadium
assets before 20 November 2007 ("the disposal transaction"), as a condition
to the approval, by the European Commission, of Evraz Group SA`s
acquisition of a majority interest in the company.
Further to Highveld`s interim report for the six months to June 2007
Highveld shareholders are advised that the relevant sale process is ongoing
and that the European Commission has now extended the deadline for the
conclusion of the disposal transaction to 20 January 2008.
The board of directors is currently evaluating various alternatives and
full details of the disposal transaction will be published in accordance
with the Listings Requirements of the JSE Limited as soon as the disposal
transaction is concluded.
21 November 2007
Johannesburg
Investment bank and transaction sponsor
The Standard Bank of South Africa Limited
Sponsor
JP Morgan
Attorneys
Tabacks
Date: 21/11/2007 12:00:01 Produced by the JSE SENS Department.
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