| Tue 9 Jun 2009, 16:30 | | ACL - ArcelorMittal South Africa - Sanctioning Of The Scheme Of Arrangement |
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ACL
ACL
ACL - ArcelorMittal South Africa - Sanctioning Of The Scheme Of Arrangement
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1989/002164/06)
Share code: ACL
ISIN: ZAE000103453
("ArcelorMittal")
SANCTIONING OF THE SCHEME OF ARRANGEMENT
ArcelorMittal shareholders are referred to the announcement published by
ArcelorMittal on the Securities Exchange News Service ("SENS") of the JSE
Limited ("JSE") on Monday, 1 June 2009 relating to the approval by the requisite
majorities of (i) the scheme of arrangement proposed by Vicva Investments and
Trading Nine (Proprietary) Limited, a wholly-owned subsidiary of ArcelorMittal,
between ArcelorMittal and its shareholders, to acquire, in terms of section 89
of the Companies Act, No. 61 of 1973, as amended, approximately 10% of the
number of issued ArcelorMittal ordinary shares ("shares") from ArcelorMittal
shareholders on a pro rata basis for a consideration of R87.64 per share ("the
scheme"), and (ii) the related resolutions required in order to implement the
scheme.
ArcelorMittal is authorised to announce that (i) the special resolution required
in order to implement the scheme has been registered by the Registrar of
Companies ("Registrar") and (ii) the scheme was sanctioned by the High Court of
South Africa (South Gauteng High Court, Johannesburg) on Tuesday, 9 June 2009. A
certified copy of the Order of Court sanctioning the scheme has been lodged for
registration by the Registrar and is expected to be registered on Wednesday, 10
June 2009. Following the registration by the Registrar of the Order of Court,
all the conditions precedent to which the scheme was subject will have been
fulfilled and the scheme will be implemented in accordance with the timetable
set out below.
2009
Last day to trade shares on the JSE in order Friday, 19 June
to be recorded in the register on the record
date of the scheme (see note 1 below)
Shares trade "ex" the scheme under the new Monday, 22 June
ISIN ZAE000134961
Record date to determine participation in the Friday, 26 June
scheme
Operative date of the scheme from the Monday, 29 June
commencement of business
Scheme consideration transferred or posted and Monday, 29 June
new revised share certificates reflecting the
new ISIN ZAE000134961 posted to scheme
participants who hold their ArcelorMittal
shares in certificated form (if documents of
title are received on or prior to 12:00 on the
record date of the scheme) or, failing that,
within five business days of receipt of the
relevant documents of title by the transfer
secretaries
Scheme participants who hold shares that have Monday, 29 June
been dematerialised will have the scheme
consideration credited to their account and
their account updated, which account is held
at their Central Securities Depository
Participant or broker
Notes:
Shares may not be dematerialised or rematerialised between Monday, 22 June 2009
and Friday, 26 June 2009, both days inclusive.
Any material change to the above dates and times will be subject to JSE approval
and communicated to shareholders by notification on SENS and in the press.
All times indicated above are South African local times.
Vanderbijlpark
9 June 2009
Merchant bank and transaction sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Legal advisors
Cliffe Dekker Hofmeyr Inc
Reporting accountants and auditors
Deloitte & Touche
Date: 09/06/2009 16:30:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
