Evraz Group | 17 July 2007 г. | 11:53

Evraz Extends the Offer Period to Acquire Highveld Shares

Evraz Group S.A. announces that, following its announcement of 4 June on the offer to acquire shares in Highveld Steel and Vanadium Corporation Limited ("Highveld"), other than those currently held by Evraz, and its announcement of 4 July on the extension of the offer period, it has decided the following:

(1) To increase the consideration payable to Highveld shareholders from the ZAR equivalent (calculated as at the closing date in the manner explained in the circular posted to shareholders of Highveld dated 4 June 2007) of US$11.40 per Highveld share, to ZAR 93, which represents an approximately 15% increase to the previous offer price. Highveld shareholders who accepted the offer prior to this increase in the consideration will be paid the increased consideration.

(2) To extend the offer till 17h00 (South African time) on 6 August, unless the date is extended by Evraz in its sole and absolute discretion, in accordance with the Securities Regulation Code on Takeovers and Mergers and any other applicable laws and regulations. All amended dates will be released on the Securities Exchange News Service of the JSE Limited ("SENS"), over a UK Regulatory Information Service and in the press.

Source: Metal Supply and Sales
View count: 85

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