SCHEDULE 14A
(RULE 14A-101)
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Filed by the Registrant {X}
Filed by a Party other than the Registrant { }
Check the appropriate box:
{ } Preliminary Proxy Statement
{ } Confidential, For Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
{ } Definitive Proxy Statement
{X} Definitive Additional Materials
{ } Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
BIRMINGHAM STEEL CORPORATION
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(Name of Registrant as specified in its charter)
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(Name of person(s) filing proxy statement, if other than Registrant)
Payment of Filing Fee (Check the appropriate box):
{X} No fee required.
{ } Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11:
(4) Proposed maximum aggregate value of transactions:
(5) Total fee paid.
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{ } Fee paid previously with preliminary materials.
{ } Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the
Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
Contacts: Roy Winnick/Roanne Kulakoff
Kekst and Company
212-521-4842 or 4837
BIRMINGHAM STEEL SENDS DEFINITIVE PROXY MATERIAL TO STOCKHOLDERS
BIRMINGHAM, Ala., October 19, 1999 - Birmingham Steel Corporation (NYSE:
BIR) today announced that it has commenced mailing its definitive proxy
material to the Company's stockholders.
Birmingham Steel said that, unlike the dissident stockholder group, the
Company's management has developed and is aggressively implementing
well-thought-out and clearly articulated strategic, operational and
financial plans that have been approved by the Board of Directors and are
designed to enhance stockholder value. The Company said its Board and
management are committed to enhancing stockholder value and believe that
the successful implementation of this strategic restructuring will greatly
enhance the Company's ability to achieve this overriding objective.
In its definitive proxy material, the Company said that its Board of
Directors, eight of whose nine members are independent directors, believes
that the dissident group's proxy solicitation is not in the best interests
of the Company and its other stockholders, and strongly urges the Company's
stockholders to reject the dissident group's solicitation and not sign any
of the dissident group's blue proxy cards.
The Company said it urges its stockholders to sign, date and return the
white proxy card being mailed to the stockholders as part of the Company's
proxy materials at their earliest convenience.
Birmingham Steel operates in the mini-mill sector of the steel industry and
conducts operations at facilities located across the United States. The
common stock of Birmingham Steel is traded on the New York Stock Exchange
under the symbol "BIR."
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