AET - Alert Steel Holdings Limited - Waiver of mandatory offer

AET - Alert Steel Holdings Limited - Waiver of mandatory offer                  
ALERT STEEL HOLDINGS LIMITED                                                    
Incorporated in the Republic of South Africa)                                   
Registration number 2003/005144/06)                                             
JSE code: AET     ISIN: ZAE000092847                                            
WAIVER OF MANDATORY OFFER                                                       
Shareholders are referred to the previous announcements  released on            
SENS, the last of which was dated 27 September 2011, regarding the              
approval by shareholders of, inter alia, the waiver of any requirement          
that Capital Africa Steel (Pty) Limited, as defined in the circular             
dated 19 September 2011 ("the circular"), extend a mandatory offer to           
shareholders in terms of the provisions of the Takeover Regulations as          
contained in the Companies Regulations 2011 ("the Takeover Regulations")        
and read together with the Companies Act 2008, as a result of the               
implementation of a rights offer or the underwriting thereof (as                
detailed in the circular).                                                      
Shareholders are advised that the Takeover Regulations Panel (the "TRP")        
has granted a ruling to waive the requirement for a mandatory offer as          
provided for in terms of Regulation 86(4). The reasons for granting the         
ruling are available from the TRP on request.                                   
Any interested party who wishes to lodge an appeal against the Ruling           
shall have 3 (three) business days from the date of this announcement           
(i.e. until 17h00 on Friday, 14 October 2011) to do so. Such an appeal          
must be made in writing and addressed to the "Executive Director,               
Takeover Regulation Panel" at either of the following addresses:                
Physical: Sunnyside Office Park, First Floor, Building B, 32 Princess of        
Wales Terrace (off St. Andrews Road), Parktown, Johannesburg, 2193; or          
Postal: PO Box 91833, Auckland Park, Parktown, 2006; or Facsimile: +27          
11 642 9284.                                                                    
Pretoria                                                                        
11 October 2011                                                                 
Designated advisor                                                              
QuestCo Sponsors (Pty) Limited                                                  
Date: 11/10/2011 16:16:01 Supplied by www.sharenet.co.za                     
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