EVRAZ HIGHVELD STEEL & VANADIUM LTD - Provisional liquidation of Mapochs Mine (Proprietary) Limited

Provisional liquidation of Mapochs Mine (Proprietary) 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”)



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   High    Court   of   South    Africa,   Gauteng   Division,   Pretoria
         granted the order for the provisional liquidation                of Mapochs
         Mine at an urgent hearing on 17 May 2016, 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.


eMalahleni
18 May 2016


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


Sponsor




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