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AFB
AFB
AFB - Alexander Forbes - Fulfilment Of The Conditions Precedent For The Option
Scheme And Final Salient Dates And Times Announcement
Alexander Forbes Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1958/001974/06)
Share code: AFB
ISIN number: ZAE000018230
Alexander Forbes Limited ("Alexander Forbes")
JSE Limited ("JSE")
Namibian Stock Exchange ("NSX")
Botswana Stock Exchange ("BSE")
FULFILMENT OF THE CONDITIONS PRECEDENT FOR THE OPTION SCHEME AND FINAL SALIENT
DATES AND TIMES ANNOUNCEMENT
1. Date of the court hearing
Alexander Forbes option holders ("option holders") are referred to the
announcement dated 11 July 2007, in which option holders were advised that the
High Court of South Africa (Witwatersrand Local Division) ("the Court") had
sanctioned the amended option holder scheme of arrangement ("the option scheme")
proposed by Cleansheet Investments (Proprietary) Limited ("Cleansheet
Investments"), between Alexander Forbes and its option holders in terms of
section 311 of the Companies Act, 61 of 1973, as amended ("the Act").
Option holders are advised all of the outstanding conditions precedent to the
option scheme have now been fulfilled.
2. Salient dates and times of the option scheme
2007
Fulfilment or waiver of conditions precedent anticipated
to be published in the South African press on Monday, 16 July
Date for suspension of Alexander Forbes` listing
on the JSE, NSX and BSE, from commencement of
trade on Monday, 16 July
Record date for the option scheme (record date to
participate in the option scheme), by close of
trade on Friday, 20 July
Operative date of the option scheme at
the commencement of business on Thursday, 26 July
Date from which the cash consideration will
be made available or posted to option scheme participants
(subject to payment details forms having been received(if
the South African Reserve Bank rules that the Exchange
Control Provisions set forth in Annexure 6 of the option
scheme circular posted on 30 May 2007 apply to emigrant
and non-resident option scheme participants) on or prior
to the record date for the option scheme or, failing that,
within five business days of receipt thereof by the
company secretary) on Thursday, 26 July
Date for termination of Alexander Forbes`
listing on the JSE, NSX and BSE from commencement of
trade on the JSE on Friday, 27 July
Notes:
All references to times in this announcement are to South African local times
unless otherwise stated.
3. Option scheme consideration
Option holders are advised that the final cash consideration, before taking into
account the exercise price of options, payable to option holders, based on the
timetable set out above, in terms of the option scheme, on Thursday, 26 July
2007 will be R17.33 per Alexander Forbes share over which an option is held.
13 July 2007
Financial adviser and sponsor to Alexander Forbes
JPMorgan
Attorneys to Alexander Forbes
Edward Nathan Sonnenbergs
Independent adviser to Alexander Forbes
KPMG
Independent reporting accountants to Alexander Forbes
PriceWaterHouseCoopers
Merchant Bank to Cleansheet Investments
Rand Merchant Bank
Attorneys to Cleansheet Investments
Deneys Reitz
Date: 13/07/2007 11:37:59 Produced by the JSE SENS Department.
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