BAW
BAW
BAW - Barloworld Limited - Unbundling announcement update
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
("Barloworld")
UNBUNDLING ANNOUNCEMENT UPDATE
Further to the announcements dated 18 December 2006, 25 January 2007 and 27
March 2007, regarding, inter alia, the proposed unbundling of Pretoria Portland
Cement Company Limited ("PPC"), shareholders are advised that the circular
relating to the unbundling ("the circular") is to be posted on or about 17 May
2007. It is anticipated that the general meeting at which the unbundling
transaction is to be considered will be held on 8 June 2007.
Further to the announcement on 27 March 2007, the board of directors of PPC has
resolved that each PPC ordinary share is to be subdivided into 10 shares of
R0.10 each in the issued share capital of PPC ("PPC subdivided shares"), subject
to approval from its shareholders at the PPC general meeting to be held on
Friday, 8 June 2007 ("PPC subdivision"). Barloworld has signed an irrevocable
undertaking with respect to the PPC subdivision, stating that it intends to vote
all of the PPC shares that it controls in favour of the proposed resolutions for
the PPC subdivision.
The board of directors of Barloworld has provisionally determined that, subject
to shareholder approval, Barloworld will distribute 1.8555 PPC subdivided shares
for every one ordinary share held by a Barloworld ordinary shareholder. Further
details will be published in the circular.
It is anticipated that, subject to approval of the Barloworld shareholders at
the general meeting, the unbundling will be effected as follows:
General meeting of Barloworld shareholders Friday, 8 June 2007
Date by which final terms of the unbundling are Thursday, 5 July 2007
to be published (finalisation date)
Last day to trade in Barloworld ordinary shares Friday, 6 July
in order to participate in the unbundling
Barloworld shares trade ex the entitlement to the Monday, 9 July 2007
PPC distribution shares from commencement of
business on
Unbundling record date Friday, 13 July 2007
Unbundling date Monday, 16 July 2007
On behalf of the Board
S Mngomezulu
Secretary
14 May 2007
SANDTON
Sponsor: JPMorgan
Date: 14/05/2007 11:01:35 Produced by the JSE SENS Department.
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