GEN - Securities Regulation Panel - Shoprite Holdi
JSE SHP
GEN
GEN - Securities Regulation Panel - Shoprite Holdings Limited - Ruling
Shoprite Holdings Limited
(Registration number 1936/007721/06)
Share code: SHP & ISIN: ZAE000012084
("Shoprite" or "the Company")
SECURITIES REGULATION PANEL ("THE PANEL")
INTERNAL REORGANISATION OF SHOPRITE HOLDINGS LIMITED ("SHOPRITE"), IN SPECIE
DISTRIBUTION, DELISTING, LIQUIDATION ("THE TRANSACTION") - INDEPENDENCE OF ABSA
CAPITAL AS EXTERNAL ADVISER TO SHOPRITE
Shoprite ordinary shareholders are referred to earlier announcements regarding
the transaction and in particular to the announcement dated 28 March 2007 in
which it was advised that the Panel had received a complaint that as Absa Bank
Limited and their controlling shareholder Barclays Bank Limited are commercial
bankers to the Shoprite Group it is not possible for the valuation performed by
Absa Capital to be considered as an independent valuation of the Shoprite group.
Interested parties are advised that at a hearing before the Executive Committee
of the Panel which was held on Tuesday, 3 April 2007, the Executive Committee of
the Panel unanimously dismissed the objection that the valuation by ABSA Capital
cannot be considered as an independent valuation of the Shoprite Group.
Johannesburg
4 April 2007
Date: 04/04/2007 16:29:15 Produced by the JSE SENS Department.
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