BSI STEEL LIMITED - Results of general meeting

Results of general meeting

BSI Steel Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/023164/06)
JSE code: BSS
ISIN: ZAE000125134
(“BSI” or "the Company")


RESULTS OF GENERAL MEETING



BSI shareholders (“Shareholders”) are referred to the circular dated 22 December 2017 (“Circular”) regarding a
scheme of arrangement in terms of section 114 of the Companies Act, the delisting of BSI’s shares from Alt x and
amendments to the rules of the SARS (“Transaction”). Where applicable, words and expressions in this
announcement shall have the same meaning as assigned to them in the Circular.

Shareholders are advised that at the general meeting held today, 24 January 2018 (“GM”), the resolutions set out
below with regard to the Transaction were duly approved by the requisite majority of Shareholders present and voting.

Details of the results of the voting are as follows:


 Resolution                                     Shares voted    Shares voted       Shares voted         Shares
                                                    for           against                              abstained


 Special Resolution Number 1                     275 106 702       379 153          275 485 855          59 200
 Approval of the Scheme in accordance              99.86%           0.14%                                0.01%
 with section 48(8)(a) of the Companies
 Act

 Special Resolution Number 2                     275 098 895       386 960          275 485 855          59 200
 Scheme Resolution (in accordance with             99.86%           0.14%                                0.01%
 sections 48(8)(b) and 115(2) of the
 Companies Act)

 Special Resolution Number 3                     275 485 702         153            275 485 855          59 200
 Revocation of Special Resolution                 100.00%           0.00%                                0.01%
 Number 2 if the Scheme is not
 implemented and Dissenting
 Shareholders have exercised their
 appraisal rights under section 164 of
 the Companies Act

 Ordinary Resolution Number 1                    275 098 895       379 153          275 478 048          67 007
 Approval for the Delisting in terms of            99.86%           0.14%                                0.01%
 paragraph 1.14(a) of the Listings
 Requirements

 Ordinary Resolution Number 2                    275 106 702       379 153          275 485 855          59 200
 Amendment to the SARS rules in terms              99.86%           0.14%                                0.01%
 of paragraph 14.2 of Schedule 14 of the
 Listings Requirements

 Ordinary Resolution Number 3                    275 098 895       379 153          275 478 048          67 007
 Authority granted to Directors                    99.86%           0.14%                                0.01%
Notes:
1. There were 719 854 996 Shares in issue as at the date of the GM.
2. 275 545 055 Shares were voted in person or by proxy (excluding Shares held by William Battershill and his
   associates being 326 157 520 Shares representing 45.31% of the Shares in issue) at the GM being 38.27% of the
   total number of Shares in issue.
3. Abstentions are represented as a percentage of the total number of Shares in issue while the Shares voted for
   and against are represented as a percentage of the Shares voted.

Johannesburg
24 January 2018

Corporate Advisor and Designated Advisor
Sasfin Capital (a member of the Sasfin Group)

Legal Advisor
Werksmans Incorporated

Date: 24/01/2018 03:09:00 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.