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ARCELORMITTAL SOUTH AFRICA LIMITED - ACL - Fulfilment of Terms of Subscription Agreement

Release Date: 16/11/2018 15:00
Code(s): ACL     PDF:  
 
Wrap Text
ACL - Fulfilment of Terms of Subscription Agreement

ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL ISIN: ZAE000134961
(“ArcelorMittal South Africa” or the “Company”)

FULFILMENT OF TERMS OF SUBSCRIPTION AGREEMENT

Shareholders are referred to the announcement released on the Stock
Exchange News Service of the JSE Limited on 18 November 2016 advising
that the B-BBEE Transaction, as defined the Circular to shareholders dated
17 October 2016, was approved at the Special General Meeting held on
18 November 2016.

Likamva Resources (Pty) Ltd (“Likamva”), currently the sole shareholder in
Amandla We Nsimbi (Pty) Ltd (“Amandla”), undertook to introduce a Broad-
Based Party into Amandla as shareholders within 24 months post the
implementation of the B-BBEE Transaction, such that an indirect effective
shareholding of 5% in the Company by the Broad-Based Party is achieved.

Shareholders are advised that The ArcelorMittal Communities Trust, introduced
by Likamva as the Broad-Based Party to ultimately benefit communities, was
registered by the Master of the High Court on 15 October 2018 (“the Trust”) and
has been allocated shareholding in Amandla so that it holds an effective
shareholding of 5% in ArcelorMittal South Africa as intended.

16 November 2018
Vanderbijlpark Works

For further information please contact:
Ms Vuyo Mtawa: Group Manager: Corporate Communications
Tel: (016) 889 2352

Sponsor to ArcelorMittal South Africa Limited
Absa Bank Limited
(acting through its Corporate and Investment Banking division)

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