CAE - CET - Limited offer to acquire shares in Gra
CAE
CAE
CAE - CET - Limited offer to acquire shares in Grand Parade Investments Limited
Cape Empowerment Trust Limited
Incorporated in the Republic of South Africa)
Registration number 1998/014606/06)
"CET" or "the company")
Share Code: CAE
ISIN: ZAE000016952
LIMITED OFFER TO ACQUIRE SHARES IN GRAND PARADE INVESTMENTS LIMITED ("GPI") FROM
SELECTED GPI SHAREHOLDERS
CET shareholders are advised that CET has resolved to make a limited offer to
selected GPI shareholders to acquire their GPI shares at R15,40 per GPI share.
This will be payable by way of an issue of 7 new CET ordinary shares at R2.20
per share for every GPI share. The limited offer is extended to selected GPI
shareholders on a first-come-first-served basis and is limited to a maximum of 9
000 000 (nine million) GPI shares, so as to ensure that CET`s aggregate holdings
of shares in GPI does not exceed such number of shares that will entitle CET to
exercise, directly or indirectly, more than 34.9% of the voting rights at
meetings of GPI as contemplated in the definitions of "affected transaction" and
"control" contained in the Securities Regulation Code on Takeovers and Mergers
and Rules of the SRP.
The limited offer opens on 21 August 2007 and will remain open for acceptances
until 30 September 2007 or until CET has received valid acceptances for a
maximum of 9 000 000 (nine million) GPI shares, whichever is the earlier ("the
first closing date"). Valid acceptances received by the first closing date
will be settled by the issue and allotment of the relevant CET shares within
five business days of the first closing date. CET reserves the right to extend
the limited offer to a second closing date, which extension will be communicated
to shareholders.
CET shareholders will be kept informed of the progress of the limited offer and
of any further developments in this regard in compliance with the disclosure
requirements of the JSE`s Listing Requirements. A full terms announcement will
be made in the event that the offer results in a transaction as envisaged by
section 9 of the JSE Listing Requirements.
Cape Town
14 August 2007
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 14/08/2007 16:50:47 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
