SHF/UTR - Steinhoff/Unitrans - In Specie Distribut
SHF UTR
SHF UTR
SHF/UTR - Steinhoff/Unitrans - In Specie Distribution by Unitrans and the
Ultimate Share Exchange
Steinhoff International Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1998/003951/06)
Share code: SHF ISIN: ZAE000016176
("Steinhoff")
Unitrans Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1967/003403/06)
Share code: UTR ISIN: ZAE000007670
("Unitrans" or "the company")
(in voluntary liquidation)
IN SPECIE DISTRIBUTION BY UNITRANS OF THE UNITRANS LOAN ACCOUNT CLAIM AND THE
ULTIMATE SHARE EXCHANGE
Shareholders are referred to the circular to Unitrans shareholders dated 22
March 2007 and the joint announcements dated 23 March 2007 and 7 May 2007
respectively, wherein details of the disposal by Unitrans of its entire business
as a going concern to a subsidiary of Steinhoff ("the disposal") and ancillary
transactions were set out.
In anticipation of the ultimate share exchange as set out in the abovementioned
circular, the JSE Limited ("JSE") has approved the listing of a further 8 531
528 ordinary shares in the share capital of Steinhoff with effect from the
commencement of trade on Monday, 28 May 2007 in finalisation of the disposal.
Unitrans shareholders are advised that the record date for the in specie
distribution of the Unitrans loan account claim was 25 May 2007. The Unitrans
shareholders who participated in the ultimate share exchange will have been
deemed to have ceded their Unitrans loan account claim in exchange for Steinhoff
shares on the basis of receiving 2 Steinhoff shares for every Unitrans share
held.
For record purposes Unitrans shareholders are advised that the value of the loan
account so distributed amounted to 5002.89 cents per share. This distribution
per share comprises a capital distribution of 1478.61 cents and a dividend of
3524.28 cents.
Unitrans shareholders are reminded that Unitrans was placed in voluntary
liquidation on 11 May 2007 and its listing was suspended with effect from
Monday, 21 May 2007. The listing will be terminated from commencement of trade
on Tuesday, 29 May 2007.
Johannesburg
28 May 2007
Corporate adviser and sponsor
PSG Capital
Date: 28/05/2007 15:01:01 Produced by the JSE SENS Department.
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