EVRAZ HIGHVELD STEEL & VANADIUM LTD - Application for provisional liquidation of Mapochs Mine

Application for provisional liquidation of Mapochs Mine

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”)



APPLICATION FOR THE PROVISIONAL LIQUIDATION OF MAPOCHS MINE
(PROPRIETARY) LIMITED (“Mapochs Mine”)


1.    As the major shareholder of Mapochs Mine, Highveld hereby advises
      all shareholders and interested parties that on 17 March 2016,
      the board of directors of Mapochs Mine resolved, subject to
      shareholder approval by way of special resolution to apply for
      the provisional liquidation of Mapochs Mine.


2.    On 13 April 2016, the shareholders of Mapochs Mine adopted the
      requisite special resolution allowing for the board of directors
      to make the application to court for the provisional liquidation
      of Mapochs Mine.


3.    The application, which will be brought as soon as reasonably
      possible, shall be for the winding up of Mapochs Mine based on
      the fact that it is unable to pay its debts as and when they fall
      due in the ordinary course of business as contemplated in Section
      344(f) read with Section 345(1)(c) of the Companies Act, 61 of
      1973 and Schedule 5(9) of the Companies Act, 71 of 2008.


4.    An update will be provided once a hearing date for the
      application has been allocated by the registrar of High Court.



eMalahleni
19 April 2016


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


Sponsor




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