EVRAZ HIGHVELD STEEL & VANADIUM LTD - Court proceedings

Court proceedings

EVRAZ Highveld Steel and Vanadium Limited
(Incorporated in the Republic of South Africa)
(Registration No: 1960/001900/06)
Share code: EHS ISIN: ZAE000146171
(“Highveld” or “the Company”)


COURT PROCEEDINGS INSTITUTED AGAINST EVRAZ HIGHVELD STEEL AND VANADIUM
LIMITED (IN BUSINESS RESCUE) AND THE BUSINESS RESCUE PRACTITIONERS OF
HIGHVELD UNDER CASE NO: 33775/15


Shareholders are advised that urgent court proceedings were instituted
by Global Renewable Energy Limited (“GRE”) against the Company and the
joint Business Rescue Practitioners of Highveld (“the BRPS”).


GRE furnished the BRPs with a copy of an urgent application on
Wednesday, 23 September 2015 after 18h00, in terms of which GRE sought
urgently to inter alia interdict the meeting in terms of Section 151 of
the Companies Act convened for Monday, 28 September 2015.


The urgent application was set down for hearing at 10h00 on Friday, 25
September 2015, which the BRPs opposed and filed an answering affidavit
to, prior to the court hearing.


The presiding judge held that the urgent application was an abuse of
the court process and struck the urgent application off the roll due to
lack of urgency and awarded costs to both Highveld and the BRPs,
including costs of the two counsels.


Should shareholders require a full copy of the court papers relating to
the urgent application, kindly forward your request to
mscruse@matusonassociates.co.za.




eMalahleni
25 September 2015


J.P. Morgan Equities South Africa (Pty) Ltd




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