FTSE/JSE Africa Index Series - Update on the Propo
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FTSE/JSE Africa Index Series - Update on the Proposed Treatment of Edgars
Consolidated (EDCON) in the FTSE/JSE Indices
Update on the Proposed Treatment of Edgars Consolidated (EDCON) in the FTSE/JSE
Indices
According to the Sens Announcement published today, 24 April 2007, the High
Court has sanctioned the ordinary scheme subject to the following conditions set
out below:
* a certified copy of the Order of Court sanctioning the ordinary scheme
being registered by the Registrar of Companies in terms of the Companies
Act 61 of 1973;
* the Competition Tribunal approving the offer by Newco in terms of the
Competition Act 89 of 1998. The Competition Commission has recommended that
the offer by Newco be approved without conditions and has referred its
recommendation to the Competition Tribunal for ratification at a hearing to
be held on Wednesday, 25 April 2007; and
* the Exchange Control Division of the South African Reserve Bank
approving the offer and the interim and permanent funding secured by the
Newco group.
The announcement also states that: "As a result of the two regulatory conditions
set out above being outstanding, ordinary shareholders are advised that the
important dates and times set out in the important dates announcement and the
circular are no longer applicable. The revised important dates and times will
be released on SENS and published in the press as soon as they are determined
having regard to the dates of fulfillment of the conditions precedent."
Further to the announcement that was published on SENS on Friday, 20th of April
regarding the proposed treatment of Edgars in the indices, FTSE/JSE will then
await the release of the new dates and the complete approval of the scheme
before publishing an index change advice.
Date: 25/04/2007 07:08:01 Produced by the JSE SENS Department.
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