Microsoft Word - Draft VA announcement - 7 April 2016.DOC
ASX RELEASE
7 April 2016
APPOINTMENT OF VOLUNTARY ADMINISTRATORS
Arrium Limited (ASX: ARI) (Arrium or the Company) today announces that Voluntary Administrators have been appointed to oversee the affairs of the Company and of those companies listed in the attached Schedule (together, the Relevant Companies).
Said Jahani, Paul Andrew Billingham, Michael Gerard McCann and Matthew James Byrnes each of Grant Thornton have been appointed to act as Voluntary Administrators for each of the Relevant Companies.
As previously announced, Arrium has been in discussions with its lenders (banks and noteholders) following the lenders' rejection of the recapitalisation plan for Arrium involving GSO Capital Partners LP (on behalf of funds managed by it and its affiliates) that was announced on 22 February 2016.
These discussions have now ceased. After considering the available alternatives, in the current circumstances it has become clear to the board of Arrium that it has, unfortunately, been left with no option other than to place the Relevant Companies into voluntary administration in order to protect the interests of stakeholders.
SCHEDULE
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Arrium Finance Pty Limited
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Arrium Iron Ore Holdings Pty Limited
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Arrium Limited
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LiteSteel Technologies Pty Ltd
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OneSteel Coil Coaters Pty Ltd
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OneSteel Manufacturing Pty Limited
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OneSteel NSW Pty Limited
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OneSteel Recycling Pty Limited
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OneSteel Reinforcing Pty Limited
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OneSteel Stainless Pty Limited
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OneSteel Trading Pty Limited
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OneSteel US Investments 1 Pty Ltd
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OneSteel Wire Pty Limited
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Southern Iron Pty Ltd
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SSX Pty Limited
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The Australian Steel Company (Operations) Pty Ltd
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Whyalla Ports Pty Ltd
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XMS Holdings Pty Limited
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Austube Mills Holdings Pty Limited
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Austube Mills Pty Limited
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Central Iron Pty Ltd
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Coober Pedy Resources Pty Ltd
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Metpol Pty Ltd
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OneSteel US Investments 2 Pty Ltd
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P&T Tube Mills Pty Ltd
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Tubemakers of Australia Pty Limited
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OneSteel Americas Holdings Pty Limited
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OneSteel MBS Pty Limited
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OneSteel Recycling Holdings Pty Ltd
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OneSteel Recycling Overseas Pty Limited
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OneSteel Stainless Australia Pty Limited
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SSX Acquisitions Pty Limited
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SSX International Pty Limited
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SSX Services Pty Limited
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Comsteel Pty. Limited
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SSG No.2 Pty Ltd
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SSG No.3 Pty Ltd
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SSX Holdings Pty Limited
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The ANI Corporation Pty Limited 40. A.C.N. 006 769 035 Pty Ltd
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Akkord Pty Limited
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ANI Construction (W.A.) Pty. Limited
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Atlas Group Employees Superannuation Fund Pty. Ltd.
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Atlas Group Staff Superannuation Fund Pty. Ltd.
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Atlas Group Superannuation Plan Pty Ltd
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Australian National Industries Pty Ltd
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Australian Wire Industries Pty Ltd
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AWI Holdings Pty Limited
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B.G.J. Holdings Proprietary Limited
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Bradken Consolidated Pty Limited
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Cockatoo Dockyard Pty Limited
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Eagle & Globe Pty Limited
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Email Accumulation Superannuation Pty Ltd
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Email Executive Superannuation Pty Ltd
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Email Holdings Pty Limited
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Email Management Superannuation Pty Ltd
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Email Metals Pty Ltd
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Email Pty Ltd
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Email Superannuation Pty Limited
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Emwest Holdings Pty. Ltd.
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Emwest Properties Pty Limited
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GSF Management Pty Limited
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J. Murray-More (Holdings) Pty Ltd
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John Mcgrath Pty Ltd
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Kelvinator Australia Pty Ltd
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Litesteel Products Pty Ltd
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Metals Properties Pty. Ltd.
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Metalstores Pty Limited
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N.K.S. (Holdings) Proprietary Limited
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O Dee Gee Co. Pty. Ltd.
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OneSteel Building Supplies Pty Limited
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OneSteel Queensland Pty Limited
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OneSteel Technologies Pty Limited
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Overseas Corporation (Australia) Pty Ltd
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Palmer Tube Mills Pty Ltd
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Pipeline Supplies of Australia Pty Limited
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ReoSteel Pty. Ltd.
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Roentgen Ray Pty Ltd
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SSG Investments Pty Ltd
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SSGL Share Plan Nominees Pty Ltd
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SSX Employees Superannuation Fund Pty Ltd
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SSX Retirement Fund Pty Ltd
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SSX Staff Superannuation Fund Pty Ltd
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Tasco Superannuation Management Pty Ltd
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Tube Estates Pty. Ltd.
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Tube Street Pty Ltd
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Tube Technology Pty. Ltd
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Tubemakers Somerton Pty Limited
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Western Consolidated Industries Pty Ltd
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X.C.E. Pty Ltd
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XEM (Aust) Pty Limited
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XLA Pty Ltd
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XLL Pty Ltd
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Zinctek Pty. Ltd.