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BRC
BRC
BRC - Brandcorp - Results of the court hearing to sanction the scheme
BRANDCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1992/006647/06)
Share code: BRC & ISIN number: ZAE000013611
("Brandcorp")
RESULTS OF THE COURT HEARING TO SANCTION THE SCHEME
Brandcorp shareholders are advised that the High Court of South Africa
(Witwatersrand Local Division) today sanctioned the scheme of arrangement ("the
scheme") in terms of section 311 of the Companies Act proposed by Main Street
565 (Proprietary) Limited ("the proposer"), a company controlled by Ethos
Private Equity Fund V, between Brandcorp and its shareholders (other than
Interbrand (Proprietary) Limited).
A notarially certified copy of the Order of Court sanctioning the scheme will be
submitted for registration with the Companies and Intellectual Property
Registration Office ("CIPRO") and such registration is anticipated to take place
on 8 August 2007. All the conditions precedent to the scheme will be fulfilled
when the Order of Court is registered. An announcement confirming the
registration of the Order of Court will be released on SENS as soon as possible
after such registration occurs.
The salient dates regarding the implementation of the scheme are as follows:
Register order with CIPRO on Wednesday, 8 August
Results of scheme published in the press on Wednesday, 8 August
Final date Wednesday, 8 August
Last day to trade in order to participate in the scheme
consideration Friday, 10 August
Suspension of listing of Brandcorp shares at
commencement of trading on Monday, 13 August
Scheme consideration record date, being the date on Friday, 17 August
which scheme participants must be recorded in the
register to receive the scheme consideration, by close
of trading on
Operative date of the scheme at the commencement of
trading on Monday, 20 August
Scheme consideration posted to certificated scheme
participants (if documents of title are received on or
prior to 12:00 on the scheme consideration record date)
on or about Monday, 20 August
Dematerialised scheme participants` accounts (held at
their CSDP or broker) updated on or about Monday, 20 August
Termination of listing of Brandcorp shares at the
commencement of trading on or about Tuesday, 4 September
Notes:
1 All dates and times may be changed by mutual agreement between Brandcorp
and the proposer and/or may be subject to certain regulatory approvals. Any
change will be published in the press and on SENS.
2 All times given in this circular are local times in South Africa.
3 Brandcorp share certificates may not be dematerialised after Friday, 10
August 2007.
Rosebank
7 August 2007
Independent advisor, corporate law advisors
and sponsor to Brandcorp
Java Capital (Proprietary) Limited
Corporate advisor to the proposer
Hyde Park Capital
Attorneys and tax advisor to the proposer
Webber Wentzel Bowens
Attorneys to Brandcorp and attorneys to the scheme
Fluxmans Incorporated
Date: 07/08/2007 15:32:01 Produced by the JSE SENS Department.
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