| Thu 25 Oct 2007, 7:00 | | ELD/XTA.L - Eland Platinum/Strata Plc - Update on |
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ELD
ELD
ELD/XTA.L - Eland Platinum/Strata Plc - Update on the fulfilment of
suspensive conditions and salient dates announcement
Eland Platinum Holdings Limited
(Registration number: 2005/029957/06)
ISIN: ZAE000078655
JSE share code: ELD
("Eland Platinum")
Strata Plc
(Registration number: 4345939)
ISIN: GB0031411001
LSE share code: XTA.L
("Xstrata")
Update on the fulfilment of suspensive conditions and salient dates
announcement
1. UPDATE ON FULFILMENT OF SUSPENSIVE CONDITIONS
Eland Platinum shareholders are referred to the joint
announcement by Eland Platinum and Xstrata dated 5 October 2007
and are advised that the following suspensive conditions to the
proposed acquisition ("the Acquisition") of the entire issued
share capital of Eland Platinum by Xstrata South Africa
(Proprietary) Limited ("Xstrata SA"), an indirectly wholly-owned
subsidiary of Xstrata, have been fulfilled:
1. the Competition Tribunal approved the implementation of the
Acquisition on 17 October 2007; and
2. the necessary consents of and from the Minister of Minerals
and Energy to the implementation of the Acquisition and the
subsequent restructuring by Xstrata SA of the assets of
Eland Platinum were obtained on 23 October 2007.
The Acquisition, which is being implemented by means of a scheme
of arrangement in terms of section 311 of the Companies Act, No.
61 of 1973, as amended ("the Scheme"), is subject to the
following outstanding suspensive conditions:
1. the sanctioning of the Scheme by the Witwatersrand Local
Division of the High Court of South Africa ("Court") at a
hearing scheduled to be held on Tuesday, 13 November 2007;
and
2. the registration of the order of Court sanctioning the
Scheme by the Registrar of Companies.
2. SALIENT DATES AND TIMES
Court hearing to sanction the Scheme on Tuesday, 13 November 2007
Fulfilment of suspensive conditions Friday, 16 November 2007
released on the Securities Exchange News
Service ("SENS") of the JSE Limited ("JSE")
and published in the South African press by
no later than
Last day to trade in Eland Platinum shares Friday, 16 November 2007
in order to be recorded in the register on
the record date of the Scheme on
Fulfilment of suspensive conditions Monday, 19 November 2007
published in the South African press by no
later than
Record date of the Scheme on which Eland Friday, 23 November 2007
Platinum shareholders must be recorded in
the register in order to be eligible to
receive the Scheme consideration on
Operative date of the Scheme on Monday, 26 November 2007
Scheme consideration posted to certificated Monday, 26 November 2007
Scheme participants on
Dematerialised Scheme participants have Monday, 26 November 2007
their accounts held at their Central
Securities Depository Participants or
broker credited with the Scheme
consideration on
Termination of Eland Platinum`s listing on Tuesday, 27 November 2007
the JSE from the commencement of trade on
Shareholder certificates may not be dematerialised or
rematerialised after Friday, 16 November 2007.
Any changes to the above dates will be released on SENS and
published in the South African press.
24 October 2007
Financial adviser and lead transaction sponsor to Eland Platinum
NM Rothschild & Sons
Attorneys to Eland Platinum
Routledge Modise Moss Morris
Equity capital market adviser and sponsor to Eland Platinum
Nedbank Capital
External independent adviser to Eland Platinum
Merrill Lynch
Merchant bank to Xstrata
Rand Merchant Bank
Attorneys to Xstrata
Werksmans Attorneys
Date: 25/10/2007 07:00:02 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.
