| Mon 23 Jul 2007, 16:23 | | ATS / ACP - Atlas / Acucap - Results Of The Atlas |
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ACP ATS
ACP ATS
ATS / ACP - Atlas / Acucap - Results Of The Atlas Scheme Meetings
ATLAS PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1988/000742/06)
Share Code: ATS ISIN Code: ZAE000008975
("Atlas")
ACUCAP PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/021725/06)
Share code: ACP ISIN: ZAE000037651
("Acucap")
RESULTS OF THE ATLAS SCHEME MEETINGS
1. RESULTS OF ATLAS SCHEME MEETINGS HELD ON 23 JULY 2007
Further to the circular posted to Atlas linked unitholders on
Wednesday 27 June 2007 and the announcements published on the
Securities Exchange News Service ("SENS") of the JSE Limited and
in the press on Wednesday, 27 June 2007 and Thursday, 28 June
2007, Investec Bank Limited and Java Capital are authorised to
announce that:
1.1. The scheme of arrangement ("the scheme") in terms of section 311
of the Companies Act, 1973, as amended, proposed by Acucap between
Atlas and Atlas linked unitholders (other than Acucap) ("scheme
members") in terms of which Acucap will acquire all the Atlas linked
units not already owned by Acucap was unanimously approved by scheme
members present in person, by proxy or represented at the scheme
meetings of Atlas shareholders and Atlas debenture holders held on
Monday, 23 July 2007.
1.2. The date of the application to the High Court of South Africa
(Cape of Good Hope Division) ("the Court") for an order sanctioning
the scheme, is expected to be on or about Tuesday, 14 August 2007 at
10:00 or as soon thereafter as counsel may be heard subject to the
receipt of approval from the Competition Authorities.
2. CONDITIONS PRECEDENT
Unitholders are reminded that the implementation of the scheme is
subject to the fulfilment of certain conditions precedent. As at
the date of this announcement, the following conditions precedent
remain outstanding:
2.1. the approval of the Competition Authorities (expected to be
received on or about Friday, 27 July 2007);
2.2. the sanctioning the scheme by the Court; and
2.3. the registration of a certified copy of the Order of Court
sanctioning the scheme by the Companies and Intellectual Property
Registration Office, Pretoria in terms of the Companies Act, 61 of
1973 (expected to occur by Friday, 17 August 2007).
3. SCHEME CHAIRPERSON`S REPORT
Copies of the scheme Chairperson`s report on the scheme meetings
will be available on request from no later than Friday, 10 August
2007 during normal business hours at Atlas` registered office at
121 Roodebloem Road, Woodstock, 7925 or from the registered office
of Atlas` sponsor, PricewaterhouseCoopers Corporate Finance, at 2
Eglin Road, Sunninghill, 2157.
4. FURTHER ANNOUNCEMENT
A further announcement regarding the fulfilment of the conditions
precedent, including the outcome of the application to the Court
and the final salient dates and times of the scheme will be made
to Atlas linked unitholders in due course.
Cape Town
23 July 2007
Investment Bank to Atlas
Investec Corporate Finance
Corporate law adviser to Atlas
Edward Nathan Sonnenberg
Sponsor to Atlas
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Corporate advisor, legal advisor and sponsor to Acucap
Java Capital (Proprietary) Limited
Date: 23/07/2007 15:49:38 Produced by the JSE SENS Department.
