ACP ATS
ACP ATS
ACP / ATS - Acucap / Atlas - Update On The Status Of The Conditions Precedent
Relating To The Proposed Atlas Scheme Of Arrangement
ACUCAP PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/021725/06)
Share code: ACP & ISIN: ZAE000037651
("Acucap")
ATLAS PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1988/000742/06)
Share Code: ATS & ISIN Code: ZAE000008975
("Atlas")
UPDATE ON THE STATUS OF THE CONDITIONS PRECEDENT RELATING TO THE PROPOSED ATLAS
SCHEME OF ARRANGEMENT
Acucap and Atlas linked unitholders are advised that the Competition Tribunal
has unconditionally approved the acquisition by Acucap of 100% of the linked
units in Atlas not already owned by Acucap pursuant to a scheme of arrangement
in terms of section 311 of the Companies Act (Act No. 61 of 1973), as amended,
proposed by Acucap between Atlas and its linked unitholders.
The scheme remains subject to the following conditions precedent:
- the sanctioning of the scheme by the Court (expected to occur on Tuesday,
14 August 2007); and
- 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).
FURTHER ANNOUNCEMENT
A further announcement regarding the fulfilment of the outstanding conditions
precedent and the final salient dates and times of the scheme will be made to
Acucap and Atlas linked unitholders in due course.
Cape Town
27 July 2007
Corporate advisor, legal advisor and sponsor to Acucap
Java Capital (Proprietary) Limited
Investment Bank to Atlas
Investec Corporate Finance
Corporate law advisor to Atlas
Edward Nathan Sonnenberg
Competition law advisor to Acucap
Vani Chetty Competition Law (Proprietary) Limited
Sponsor to Atlas
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Date: 27/07/2007 15:04:34 Produced by the JSE SENS Department.
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