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ABL ELH ABLP
ABL ELH
ABL / ABLP / ELH - African Bank Investments / Ellerines - Proposed acquisition
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1946/021193/06)
(Registered bank controlling company)
Ordinary share code: ABL & ISIN: ZAE000030060
Preference share code: ABLP & ISIN: ZAE000065215
("ABIL")
ELLERINE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1968/013402/06)
Share code: ELH & ISIN: ZAE000022752
("Ellerines")
PROPOSED ACQUISITION BY ABIL OF THE ENTIRE ISSUED SHARE CAPITAL OF ELLERINES
BY WAY OF A SCHEME OF ARRANGEMENT ("THE SCHEME"): UPDATE REGARDING THE
COMPETITION COMMISSION FINDINGS
Further to the joint announcement published by ABIL and Ellerines on SENS on
Friday 30 November 2007, ABIL and Ellerines shareholders are advised that the
Competition Commission has recommended to the Competition Tribunal that the
proposed acquisition of Ellerines by ABIL be approved unconditionally. The
remaining conditions precedent that have not yet been fulfilled are:
1. the Competition Tribunal approving the proposed acquisition of Ellerines
by ABIL in terms of the Competition Act, 1998 (Act 89 of 1998) as amended,
either unconditionally or subject to such conditions as may be acceptable to
ABIL; and
2. a certified copy of the Order of Court sanctioning the scheme being
registered by the Registrar of Companies in terms of the Companies Act.
A further announcement regarding the anticipated timing of the Competition
Tribunal proceedings and the final dates and times of the scheme will be
released on SENS and published in the South African press as they become
known.
Johannesburg
4 December 2007
Investment bank and sponsor to Ellerines
Nedbank Capital
Attorneys to Ellerines
Cliffe Dekker
Merchant bank and transaction sponsor to ABIL
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Attorneys to ABIL
Prinsloo, Tindle & Andropoulos Inc.
Date: 04/12/2007 16:29:54 Produced by the JSE SENS Department.
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