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CAE
CAE
CAE- Cape Empowerment Trust - Notice to BLRT; Extension of Closing Date of Offer
CAPE EMPOWERMENT TRUST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014606/06)
JSE Code: CAE
ISIN ZAE000016952
("Cape Empowerment Trust" and "the company")
NOTICE TO BLRT INVESTMENTS LIMITED SHAREHOLDERS
EXTENSION OF CLOSING DATE OF OFFER FOR THE ACQUISITON OF THE ENTIRE ISSUED SHARE
CAPITAL OF BLRT INVESTMENTS LIMITED
1. Introduction
Shareholders of BLRT Investments Limited ("BLRT") are advised that the
offer made in terms of the Circular issued by Cape Empowerment Trust
Limited ("Cape Empowerment Trust"), a company listed on the JSE Limited, to
the shareholders of BLRT ("the Offer"), dated 20 July 2007, has been
extended and shall now close at 16h30 on 8 October 2007.
The purpose of this announcement, which is required in terms of the
Securities Regulation Code, is to advise shareholders of the extension of
the closing date of the Offer. The Offer has been extended in order for
Cape Empowerment Trust to ensure that certain BLRT shareholders receive a
copy of the Offer Circular and sufficient time to consider the Offer.
2. Terms of the Offer
Subject to the conditions precedent in paragraph 3 below, Cape Empowerment
Trust has offered to acquire all or part of the shares in BLRT for a
consideration of 7 ordinary shares in the issued share capital of Cape
Empowerment Trust for every 2 BLRT shares held, by way of a general offer
in terms of section 440A of the Companies Act (Act 61 of 1973) as amended.
There is no alternative cash offer and there is no condition as to a
minimum level of acceptances.
All BLRT shareholders shall be treated equally and receive equal
consideration in respect of all BLRT shares to which the Offer is accepted.
3. Conditions precedent
The Offer shall be subject to the receipt of all necessary regulatory
approvals and compliance with all the necessary regulatory requirements for
the implementation of the Offer, including approvals from the JSE Limited
and the Securities Regulation Panel.
Opinion of BLRT board
The BLRT board will appoint an independent financial advisor to advise it
on how the offer affects all BLRT shareholders. The BLRT board will
consider such advice and form its view and recommendation of the Offer and
will make the substance of such advice known to shareholders in the form
and manner required by the Securities Regulation Panel once the Cape
Empowerment Trust offer circular has been posted to all BLRT shareholders.
The BLRT board accepts responsibility for all opinions relating to the
Offer that will be communicated to BLRT shareholders.
Shareholders are advised that the documents made available for inspection
in terms of the Offer shall be available for said inspection until 16h30 on
8 October 2007.
Cape Town
6 August 2007
Corporate Advisor and Sponsor
Sasfin Capital
(a division of Sasfin Bank Ltd)
Legal Advisor
Hofmeyr Herbstein Gihwala Inc.
Date: 06/08/2007 12:29:01 Produced by the JSE SENS Department.
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