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CAE
CAE
CAE - Cape Empowerment Trust Limited - Notice to Sancino Shareholders
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 SANCINO SHAREHOLDERS
FURTHER EXTENSION OF CLOSING DATE OF OFFER FOR THE ACQUISITON OF THE ENTIRE
ISSUED SHARE CAPITAL OF SANCINO
1. Introduction
Shareholders of Sancino Projects Limited ("Sancino") 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 Sancino ("the Offer"), dated 30 May 2007, has been further
extended and shall now close at 16h30 on 19 September 2007.
The purpose of this announcement, which is required in terms of the
Securities Regulation Code, is to advise shareholders of the further
extension of the closing date of the Offer. The Offer has been extended in
order for Cape Empowerment Trust to comply with the condition in respect of
Competition Commission approval.
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 Sancino for a
consideration of 7 ordinary shares in the issued share capital of Cape
Empowerment Trust for every 1 Sancino share 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 Sancino shareholders shall be treated equally and receive equal
consideration in respect of each Sancino share 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.
4. Opinion of Sancino board
The Sancino board has formed its views and made a recommendation on the
Offer in the form and manner required by the Securities Regulation Panel.
The Sancino board accepts responsibility for all opinions relating to the
Offer that will be communicated to Sancino shareholders.
Shareholders are advised that the documents made available for inspection
in terms of the Offer and the initial extension shall be available for said
inspection until 16h30 on 19 September 2007.
A further announcement will be made once all conditions of the Offer have
been met.
Cape Town
17 August 2007
Corporate Advisor and Sponsor
Sasfin Capital
(a division of Sasfin Bank Ltd)
Legal Advisor
Hofmeyr Herbstein Gihwala Inc.
Date: 17/08/2007 12:01:46 Produced by the JSE SENS Department.
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