| Tue 9 Oct 2007, 16:00 | | JCM - Johnnic Communications Limited - Change of n |
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JCM
JCM
JCM - Johnnic Communications Limited - Change of name of Johncom
JOHNNIC COMMUNICATIONS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share Code: JCM & ISIN Code: ZAE000024584
("Johncom" or "the company")
Change of name of Johncom
1. Introduction and rationale
1.1 On 1 April 2004, Johncom entered into a licensing agreement with Johnnic
Holdings Limited ("Johnnic") for the use of the Johnnic/Johncom trademark.
1.2 On 1 December 2004, Johnnic announced that it planned to unbundle to its
shareholders all of its shareholding in Johncom, whereafter Johnnic
identified the hotels and gaming sector as its new area of focus. Johncom`s
core strategy remained media and entertainment. The unbundling of Johncom
from Johnnic took effect on 24 March 2005. Although Johnnic and Johncom
have pursued different strategic directions, the similarity in their names
has resulted in ongoing confusion between the two companies.
1.3 Johncom has given notice of termination of the use of the Johnnic/Johncom
trademark to Johnnic. The notice period expires on 30 November 2007.
1.4 Further to the notice of termination referred to in 1.3, Johncom embarked
on an extensive process to find a name that would encapsulate its position
as South Africa`s leading media and entertainment company, with additional
business interests in West and East Africa.
1.5 It is now proposed to change the name of the company to "Avusa Limited".
Avusa means to rouse feelings, to revive, and evokes action. The name Avusa
dynamically reflects the company`s positioning as a media and entertainment
market leader in both South Africa and Africa with a credible and
transparent strategy for future growth.
1.6 In addition, shareholders are referred to the board of directors`
announcement on 11 April 2007 of the board`s future strategic intentions to
further unlock shareholder value and introduce broad-based BEE ownership.
This will be achieved through separating the businesses of Johncom into two
listed entities by the formation of a new wholly-owned subsidiary that will
acquire and hold 100% of all Johncom`s directly held operating media and
entertainment assets ("OpCo"). Once OpCo has been established, it is the
board`s intention to cede the name Avusa Limited to OpCo.
2. Salient dates and times
The salient dates and times for the implementation of the change of name of
the company to Avusa Limited are set out below.
2007
Last day to trade under old name Friday, 23 November
"Johnnic Communications Limited" on
Change of name on the JSE effective Friday, 23 November
from close of business on
Trade under the new name "Avusa
Limited" under the JSE share code Monday, 26 November
"AUA", abbreviated name "AVUSA" and
new ISIN: ZAE000107090 from
commencement of trading on
Record date for the change of name on Friday, 30 November
New share certificates reflecting the
change of name posted by registered
post to Johncom certificated Monday, 3 December
shareholders who have surrendered
their documents of title on or before
12:00 on the record date (see note iii
below) on or about
Dematerialised Johncom shareholders`
accounts updated with new name by Monday, 3 December
their CSDP or broker on
Notes:
i. These dates and times are subject to amendment. Any such amendment will be
released on the Securities Exchange News Service and published in the South
African Press.
ii. Shareholders will not be able to dematerialise or rematerialise securities
in the name of Johncom after Friday, 23 November 2007 and may only
dematerialise their new Avusa Limited shares from Monday, 3 December 2007.
iii. Certificated Johncom shareholders who surrender their existing documents of
title after 12:00 on the record date, will have their new share
certificates mailed within five business days of receipt thereof by the
transfer secretaries, Computershare Investor Services 2004 (Proprietary)
Limited, by registered post in South Africa, at the risk of the
shareholders concerned.
3. Circular to shareholders
Johncom shareholders are hereby notified that a circular regarding the
change of name, including a form of proxy in respect of the general meeting
of Johncom shareholders and a form of surrender, will be dispatched to
shareholders today.
Johannesburg
9 October 2007
Investment bank and sponsor
Nedbank Capital
Legal advisers
Werksmans
Date: 09/10/2007 16:00:01 Produced by the JSE SENS Department.
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