Update regarding the proposed acquisition by ARM of TEAL minorities
16 February 2009
ARM shareholders are referred to the announcement dated 17 December 2008 in which ARM announced the proposed transaction to acquire the shares held by minority shareholders in TEAL Exploration & Mining Incorporated (“TEAL”) and to simultaneously introduce Companhia Vale do Rio Doce (“Vale”) as a 50% strategic joint venture partner (“the proposed transaction”).
ARM is pleased to announce that at a general meeting of TEAL shareholders held in Johannesburg on 13 February 2009, TEAL shareholders overwhelmingly voted in favour of the resolutions necessary to implement the proposed transaction. Shareholders unable to attend in person at the meeting in Johannesburg were permitted to attend the meeting via conference telephone made available in Toronto, Canada.
Shareholders are reminded that completion of the proposed transaction remains subject to a final hearing by the Supreme Court of the Yukon Territory, currently expected to take place on February 17, 2009, as well as the satisfaction of other regulatory approvals and other specific closing conditions. A further announcement will be made once the requisite approvals have been obtained.
For further details please refer to the TEAL website: www.tealmining.com.
For further details, contact:
Corporate Development & Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27(0) 83 411 2881
Issued by sponsor:
Deutsche Securities (SA) (Proprietary) Limited