SOUTH AFRICAN CHROME AND ALLOYS LIMITED - COMPETITION TRIBUNAL APPROVAL
South African Chrome and Alloys Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06)
JSE Share code: SCE
ISIN code: ZAE000022943
(`SA Chrome` or `the Company`)
COMPETITION TRIBUNAL APPROVAL
The Company is pleased to announce that the South African Competition
Authorities under the Competition Act have approved the Xstrata/SA Chrome
Venture (the `Venture`) on an unconditional basis.
The Venture has also been approved by the relevant European and other
international competition authorities. Shareholders are advised that the
implementation of the Venture remains subject to the following suspensive
conditions:
* the approval of the shareholders of the Company in general meeting of the
terms and conditions of the Transaction; and
* the receipt of favourable tax rulings relating to certain tax issues, as
stipulated in the agreement, from the South African Revenue Service or some
other form of comfort reasonably acceptable to the parties.
A circular to SA Chrome shareholders setting out full details of the Venture and
containing a notice of general meeting has been prepared and will be posted to
shareholders once approved by the JSE Securities Exchange South Africa.
Johannesburg
22 June 2004
Financial adviser and transactional sponsor
Deutsche Securities (SA) (Proprietary) Limited
Sponsor
Rand Merchant Bank Corporate Finance
Attorneys
Bowman Gilfillan Inc.
Date: 22/06/2004 02:41:33 PM
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