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EVRAZ HIGHVELD STEEL & VANADIUM LTD - Notice of court proceedings instituted against inter alia Evraz Highveld Steel And Vanadium Limited

Release Date: 23/10/2015 13:03
Code(s): EHS     PDF:  
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Notice of court proceedings instituted against inter alia Evraz Highveld Steel And Vanadium Limited

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”)


NOTICE OF COURT PROCEEDINGS INSTITUTED AGAINST INTER ALIA EVRAZ
HIGHVELD STEEL AND VANADIUM LIMITED (IN BUSINESS RESCUE)
(“HIGHVELD”), THE BUSINESS RESCUE PRACTITIONERS OF HIGHVELD AND
AFFECTED PERSONS



Shareholders are advised that East Metals AG (“EM”) and Mastercroft
S.A.R.L (“Mastercroft”) has instituted court proceedings against
inter alia Highveld, the joint Business Rescue Practitioners of
Highveld (“the BRPs”) and several other affected persons of
Highveld.

In accordance with Regulation 6 of the Companies Act, the details of
the abovementioned court proceedings are as follows:

1.1.    On or about 21 October 2015, EM and Mastercroft furnished
        the BRPs with a copy of an application in terms of which EM
        and Mastercroft seek to inter alia declare:

        1.1.1.     the business rescue plan of Highveld invalid;

        1.1.2.     that the vote which took place at the meeting on 13
                   October 2015, in terms of which the business rescue
                   plan was adopted, invalid and to have the vote set
                   aside; and

        1.1.3.     that the agreement on the remuneration of the BRPs
                   as provided for in the business rescue plan as
                   invalid and set aside.

1.2.    Highveld and the BRPs intend opposing the application.

A full copy of the papers in the above application is available on
request at mscruse@matusonassociates.co.za.
eMalahleni
23 October 2015


Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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