MIM Shareholders Approve Xstrata Scheme of Arrangement

Document date:  Fri 06 Jun 2003
Published:  Fri 06 Jun 2003 00:00:00
Document No:  153212
Document part:  A
Market Flag:  Y
Classification: 

MIM HOLDINGS LIMITED                          2003-06-06  ASX-SIGNAL-G

HOMEX - Brisbane                                                      

+++++++++++++++++++++++++
MIM SHAREHOLDERS APPROVE

XSTRATA SCHEME OF ARRANGEMENT

MIM Holdings Limited (MIM) shareholders today approved a Scheme of
Arrangement under which Xstrata plc (Xstrata) would acquire all of
the shares in MIM for $1.72 cash per share. The Scheme of Arrangement
remains subject to satisfaction of certain condit0
ions precedent and
the exercise of the discretion of the Supreme Court of Queensland to
approve the Scheme. The Courts approval is expected to be sought on
12 June, 2003.

If the Scheme is approved by the Court, Xstrata will acquire all of
MIMs shares. Shareholders will receive $1.72 per MIM share which
will be paid on the sixth business day following approval of the
scheme by the Court.

The resolution approving the Scheme of Arrangement was duly passed by
a majority of 89.10
% of shares voted and 58.5% of the shareholders who
voted. Particulars of the voting were:
PROXIES LODGED         NUMBER OF PROXIES     NUMBER OF VOTES

Votes for                      22,216          1,250,177,837
Votes against                  15,893            155,611,038
Abstentions                       165              2,792,942
Proxys discretion                887              5,812,857

TOTAL VOTES CAST       NUMBER OF SHAREHOLDERS  NUMBER OF VOTES

In favour          0
          22,588              1,299,056,620
Against                      15,971                158,176,225
Abstentions                     165                  2,792,942

For more information visit our website: www.mim.com.au
For further information:


Media:                            Investors:
Collin Myers                      Allan Ryan
General Manager Corporate Affairs Principal Adviser Investor Relations
Bus: +61 (0) 7 3833 8285          Bus: +61 (0)7 3833 8295
Mobile: 0
+61 (0) 419 703 145       Mobile: +61 (0) 419 781 380





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