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CNL
CNL
CNL - Control Instruments - Sale by Control Instruments of its fleet
management businesses to Telimatrix Limited and
the unbundling of shares received
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1964/003987/06)
Share code: CNL
ISIN: ZAE000001665
("Control Instruments" or "the Company")
SALE BY CONTROL INSTRUMENTS OF ITS FLEET MANAGEMENT BUSINESSES TO TELIMATRIX
LIMITED AND THE UNBUNDLING OF SHARES RECEIVED
Further to the terms update dated 21 September 2007 (regarding the sale by
Control Instruments of its shares in Control Instruments OmniBridge
(Proprietary) Limited ("CI OmniBridge") and Sunstore Limited ("OmniBridge
Cyprus") to TeliMatrix Limited ("TeliMatrix") in return for shares in
TeliMatrix; and the unbundling of the shares it holds in TeliMatrix at the
time of the listing) and the announcement dated 1 October 2007, the directors
of Control Instruments are pleased to announce that all the outstanding
conditions precedent to the sale have been fulfilled.
The sale of CI OmniBridge and OmniBridge Cyprus to TeliMatrix is therefore
unconditional and it has been agreed that the effective date of the sale is 1
October 2007.
The unbundling is conditional upon the implementation of the sale and the
listing. The sale has been completed and JSE Limited approval for the listing
and unbundling has been received.
It is expected that the listing of the TeliMatrix shares on the main board of
the JSE under the JSE code MIX and ISIN ZAE000104683 will take place on
Monday, 12 November 2007.
The expected date for the settlement of the unbundling entitlement to be
credited to dematerialised shareholders` accounts or posted to certificated
shareholders is Monday, 19 November 2007.
The salient dates and times have not changed from those published in the
circular to shareholders dated 13 September 2007. They are as follows:
2007
Expected last day to trade in Control Friday, 9 November
Instruments shares to be entitled to
receive the unbundling entitlement on
Shares trade ex the unbundling on Monday, 12 November
Shares in the name of TeliMatrix Monday, 12 November
commence trading under the JSE code
MIX and ISIN ZAE000104683
Expected record date for shareholders Friday, 16 November
to be recorded in the register in the
books of Control Instruments to be
entitled to receive the unbundling
entitlement on
Expected date for settlement of the Monday, 19 November
unbundling entitlement to be credited
to dematerialised shareholders`
accounts or posted to certificated
shareholders on
No dematerialisation or rematerialisation of documents of title may take place
between Monday, 12 November 2007 and Friday, 16 November 2007.
Cape Town
11 October 2007
Transactional sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited
Sponsor
Investec Bank Limited
Date: 11/10/2007 10:41:01 Produced by the JSE SENS Department.
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