| Wed 7 Nov 2007, 16:04 | | ATN / ATNP - Altron - Salient dates announcement r |
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ATN ATNP
ATN
ATN / ATNP - Altron - Salient dates announcement regarding the Altron general
meeting
ALLIED ELECTRONICS CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/024583/06
Share code: ATN & ISIN: ZAE000029658
Share code: ATNP & ISIN: ZAE000029666
("Altron")
SALIENT DATES ANNOUNCEMENT REGARDING THE ALTRON GENERAL MEETING
1 Introduction
Shareholders of Altron are referred to the joint announcements released by
Altron and Allied Technologies Limited ("Altech") as well as by Altron and
Bytes Technology Group Limited ("Bytes") on the Securities Exchange News
Service ("SENS") of the JSE Limited on 24 October 2007 in which the
respective shareholders were advised that Altron had expressed a firm
intention to the two boards of directors of Altech and Bytes to make two
independent offers to acquire:
- the issued ordinary share capital of Altech that Altron and its
subsidiaries (the "Altron Group") including Altron One Nominees
(Proprietary) Limited (collectively "the Excluded Members") do not
already own from all shareholders of Altech, other than the Excluded
Members ("the Altech Minority Shareholders"), in accordance with and
as contemplated by the Securities Regulation Code on Takeovers and
Mergers ("the Altech Scheme"); and
- the issued ordinary share capital of Bytes that the Altron Group does
not already own from all shareholders of Bytes, other than the Altron
Group ("the Bytes Minority Shareholders"), in accordance with and as
contemplated by the Securities Regulation Code on Takeovers and
Mergers ("the Bytes Scheme").
In order to implement the abovementioned schemes, Altron ordinary
shareholders and Altron participating preference shareholders are required
to vote on the approval of certain Altron ordinary resolutions ("the Altron
Resolutions"). The approval of the Altron Resolutions will result in an
increase in the number of Altron ordinary shares and Altron participating
preference shares being placed under the control of the Altron directors,
in order to discharge these shares to the Altech Minority Shareholders and
the Bytes Minority Shareholders as consideration for the Altech Scheme and
the Bytes Scheme respectively. Details of the Altron Resolutions are
disclosed in the notice of general meeting which will be included in the
circular to be sent to Altron shareholders, as set out in paragraph 4
below.
The implementation of the Altech Scheme as well as the Bytes Scheme is
subject to the fulfillment of the conditions precedent as set out in the
two joint announcements released on SENS on 24 October 2007.
2 General Meeting
The general meeting of Altron shareholders is convened to be held in the Altech
Boardroom, Altech corporate offices, 79 Central Street, Houghton, Johannesburg,
2198, at 09:00 on Monday, 3 December 2007, or any adjournment thereof, details
of which will be released on SENS and published in the press, at which Altron
shareholders will consider, and if deemed fit, approve, with or without
modification, the Altron Resolutions ("the Altron General Meeting").
3 Important dates and times
The important dates and times set out below relate to the Altron General
Meeting:
Date
Last day to trade to participate in the Altron Thursday, 22 November 2007
General Meeting
Record Date for the Altron General Meeting Thursday, 29 November 2007
Last day to lodge forms of proxy for the Friday, 30 November 2007
Altron General Meeting (by 09:00)
Altron General Meeting (at 09:00) on Monday, 3 December 2007
Results of Altron General Meeting to be Monday, 3 December 2007
released on SENS on
Results of Altron General Meeting to be Tuesday, 4 December 2007
published in the press on
Date of listing of the Altron consideration Monday, 7 January 2008
shares (Altron ordinary shares Code: ATN
ISIN: ZAE000029658 and Altron participating
preference shares Code: ATNP ISIN:
ZAE000029666) to commence on
4 Documentation
A circular including the notice of general meeting as well as proxy forms for
the Altron ordinary shareholders and the Altron participating preference
shareholders, enclosing full details of the Altech Scheme and the Bytes Scheme,
will be posted to Altron shareholders on or about Monday, 12 November 2007.
Johannesburg
7 November 2007
Investment Bank to the transaction
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to Altron
Investec Bank Limited
(Registration number 1969/004763/06)
Legal advisor to Altron
Edward Nathan & Sonnenbergs Inc.
(Registration number 2006/018200/21)
Date: 07/11/2007 16:04:01 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.
