| Fri 20 Apr 2007, 17:30 | | EPS / BPL - Eastplats / Barplats - Results Of Sche |
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BPL
BPL
EPS / BPL - Eastplats / Barplats - Results Of Scheme Meeting
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768551038
Share Code AIM: ELR ISIN: CA2768551038
Share Code JSE: EPS ISIN: CA2768551038
("Eastplats")
BARPLATS INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004830/06)
Share code: BPL
ISIN: ZAE000028692
("Barplats" or "the Company")
RESULTS OF SCHEME MEETING
1. INTRODUCTION
Barplats shareholders are referred to the joint announcement released on
SENS on 1 March 2007 and the further announcement released on 22 March 2007
relating to Eastplats` offer and the scheme arrangement in terms of section 311
of the Companies Act No. 61 of 1973, as amended ("the scheme") as proposed by
Eastplats between Barplats and all of its ordinary shareholders, excluding
certain excluded parties ("the scheme members").
2. SCHEME MEETING
At the meeting of the scheme members held today, Friday, 20 April 2007, to
consider the terms and conditions of the scheme, the scheme was approved by
96.3% of the votes exercisable by scheme members present and voting, either in
person or by proxy. Accordingly, the scheme was approved by the requisite
majority of votes of scheme members.
3. OUTSTANDING CONDITIONS PRECEDENT
In relation to the outstanding conditions precedent to the scheme, Barplats
shareholders should note that:
3.1 the application for the sanctioning of the scheme is anticipated to be made
to The High Court of South Africa (Transvaal Provincial Division) ("Court") at
10:00 on Wednesday, 9 May 2007 (or as soon thereafter as Counsel may be heard);
3.2 the lodging with and registration by the Registrar of Companies of a
certified copy of the Order of Court sanctioning the scheme is anticipated to
occur on or about Thursday, 10 May 2007; and
3.3 the approval from the requisite Canadian regulatory authorities, including
without limitation the approval of the Toronto Stock Exchange, to the extent
necessary, shall be obtained prior to the anticipated listing date of Eastplats
on the JSE, being Monday, 21 May 2007.
4. CONFIRMATION OF SALIENT DATES AND TIMES
Should the scheme be sanctioned and become operative, all other salient dates
and times as previously announced on 1 March 2007 will apply.
5. CHAIRMAN`S REPORT
Copies of the Chairman`s report on the scheme meeting will be available on
request, free of charge, at least one week before the date on which application
for the sanctioning of the scheme is to be made, during normal business hours,
from the registered office of Barplats, 1st Floor, Platinum Place, Turnberry
Office Park, 48 Grosvenor Road, Bryanston, Johannesburg.
6. FURTHER ANNOUNCEMENT
A further announcement regarding the outcome of the application to Court for the
sanctioning of the scheme, as well as an update as to any changes to the salient
dates and times pertaining to the implementation of the scheme, will be released
on SENS and published in the South African press.
20 April 2007
Johannesburg
Sponsor and corporate advisor to Eastplats - PSG Capital (Pty) Limited Sponsor
to Barplats - Nedbank Capital Limited
Attorneys to Barplats in respect of the transaction - Deneys Reitz
Date: 20/04/2007 17:30:01 Produced by the JSE SENS Department.
