Illovo Sugar Limited - Cautionary Announcement

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 TO AFFECTED PERSONS OF COURT PROCEEDINGS INSTITUTED AGAINST HIGHVELD AND THE BUSINESS RESCUE PRACTITIONERS OF HIGHVELD UNDER CASE NO: 24586/16


  1. Please note that pursuant to the provisions of sections 144, 145, and 146 of the Companies Act, 71 of 2008 as amended ("the Companies Act"), notice is hereby given to all affected persons of urgent court proceedings which were instituted by The Industrial Development Corporation of South Africa Limited ("IDC") against Highveld and the joint Business Rescue Practitioners of Highveld ("the BRPs").


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


    1. On 20 March 2016, the IDC furnished the BRPs with a copy of an urgent application in terms of which the IDC sought urgently to inter alia perfect its security in terms of the general notarial bond registered over the movable assets of Evraz in favour of the IDC.


    2. The IDC set the urgent application down for hearing at 10h00 on Tuesday, 12 April 2016.


    3. The BRPs are in discussions with the IDC to minimise the impact of the application on the business rescue.

      4. A copy of the urgent application and its annexures are available on Highveld's website at:


      Notice of motion


      http://www.evrazhighveld.co.za/BusinessRescue/Evraz%20Highveld%20Steel% 20-%20IDC%20Urgent%20Application.pdf

      Annexures MS1 - MS4 of the Notice of Motion: http://www.evrazhighveld.co.za/BusinessRescue/Evraz%20Highveld%20Steel% 20&%20Vanadium%20-%20Annexure%20A%20-MS1%20to%20MS4.pdf


      Annexures MS5 - MS11 of the Notice of Motion: http://www.evrazhighveld.co.za/BusinessRescue/Evraz%20Highveld%20Steel% 20&%20Vanadium%20-%20Annexure%20B%20-%20MS5%20to%20MS11.pdf



      eMalahleni

      4 April 2016


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

    Evraz Highveld Steel and Vanadium Limited issued this content on 04 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 April 2016 14:07:05 UTC

    Original Document: http://www.evrazhighveld.co.za/SENS/SENS Announcement - IDC Court Application against EHSV - 20160404.pdf