ARI - ARM - Update regarding the proposed acquisition by ARM of TEAL minorities
ARI
ARIM
ARI - ARM - Update regarding the proposed acquisition by ARM of TEAL minorities
and formation of a 50:50 Joint Venture with Vale
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM")
Update regarding the proposed acquisition by ARM of TEAL minorities and
formation of a 50:50 Joint Venture with Vale
ARM shareholders are referred to the announcement dated 17 December 2008 in
which ARM announced the proposed transaction to acquire the shares held by
minority shareholders in TEAL Exploration & Mining Incorporated ("TEAL") and to
simultaneously introduce Companhia Vale do Rio Doce ("Vale") as a 50% strategic
joint venture partner ("the proposed transaction").
ARM is pleased to announce that at a general meeting of TEAL shareholders held
in Johannesburg on 13 February 2009, TEAL shareholders overwhelmingly voted in
favour of the resolutions necessary to implement the proposed transaction.
Shareholders unable to attend in person at the meeting in Johannesburg were
permitted to attend the meeting via conference telephone made available in
Toronto, Canada.
Shareholders are reminded that completion of the proposed transaction remains
subject to a final hearing by the Supreme Court of the Yukon Territory,
currently expected to take place on February 17, 2009, as well as the
satisfaction of other regulatory approvals and other specific closing
conditions. A further announcement will be made once the requisite approvals
have been obtained.
For further details please refer to the TEAL website: www.tealmining.com
ENDS
For more information please contact:
Monique Swartz
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27 83 411 2881
E-mail: monique.swartz@arm.co.za
Johannesburg
16 February 2008
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 16/02/2009 09:56:04 Produced by the JSE SENS Department.
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