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ACL
ACL
ACL - ArcelorMittal - Posting Of Annual Report And Notice Of Annual General
Meeting
ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
("ArcelorMittal" or "the company" or "the group")
POSTING OF ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
Notice is hereby given that the Annual General Meeting of ArcelorMittal
South Africa will be held at 11:00 (South African time) on Tuesday 11 May
2010 at the Hilton Hotel, 138 Rivonia Road, Sandton, Johannesburg, South
Africa.
The Annual Report and the Notice of the Annual General Meeting has been
issued and posted to shareholders today, Wednesday 31 March 2010. The
Annual Report contained no modifications to the reviewed group financial
results which were published on 10 February 2010.
The only material change between the audited combined and consolidated
financial statements reported in the Annual Report for the year ended 31
December 2009 approved by the Board of Directors on 19 March 2010 and the
reviewed group financial results for the year ended 31 December 2009 issued
on Wednesday 10 February 2010, is the notice received from Sishen Iron Ore
Company (Proprietary) Limited (SIOC) asserting (which assertions are not
accepted by the group and company) that, with effect from 1 March 2010, it
is no longer obliged to supply iron ore to the group and company, on a cost
plus 3% basis. According to SIOC the group and company did not apply for
the conversion of its old order mining right at Sishen Mine in respect of
the 21.4% undivided share within the time period prescribed in item 7(1) of
Schedule 11 to the Mineral and Petroleum Resources Development Act 28 of
2002.
The group and company considered the matters arising out of the allegations
made by SIOC relating to the Sishen mineral rights, which assertions
ArcelorMittal disputes and believes that SIOC remains contractually obliged
to continue to supply iron ore at cost +3% pursuant to the long term
contractual arrangement. The dispute is classified as a non-adjusting event
after the reporting date based upon the fact pattern of events giving rise
to the event.
ArcelorMittal shareholders are referred to the announcements issued by
ArcelorMittal on 30 March 2010 which provide an update to ArcelorMittal`s
current status.
31 March 2010
Vanderbijlpark
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
For further information please contact:
Julian Gwillim
Mobile: +27 (82) 452 4389
Date: 31/03/2010 17:11:08 Produced by the JSE SENS Department.
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