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ATN BTG ATNP
ATN BTG
ATN / ATNP / BTG - Altron / Bytes - Fulfilment Of The Remaining Conditions
Precedent To The Bytes Scheme And Finalisation Announcement
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")
BYTES TECHNOLOGY GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1911/003874/06)
Share code: BTG & ISIN: ZAE000029526
("Bytes")
FULFILMENT OF THE REMAINING CONDITIONS PRECEDENT TO THE BYTES SCHEME AND
FINALISATION ANNOUNCEMENT
1. INTRODUCTION
Shareholders are referred to the joint announcement published by Altron and
Bytes on the Securities Exchange News Service ("SENS") of the JSE Limited
on 24 October 2007 wherein Bytes shareholders were advised that Altron had
expressed a firm intention to the board of directors of Bytes to make an
offer to acquire the 42.3% of the issued ordinary share capital of Bytes
that Altron and its subsidiaries (the "Altron Group") do not already own
from all shareholders of Bytes other than the Altron Group, in accordance
with and as contemplated by the Securities Regulation Code on Takeovers and
Mergers.
2. FULFILMENT OF CONDITIONS PRECEDENT
Altron and Bytes are authorised to announce that the remaining conditions
precedent to the scheme of arrangement between Bytes and its shareholders
other than the Altron Group (the "Scheme"), being the sanctioning of the
Scheme by the High Court of South Africa (Witwatersrand Local Division)
(the "Court") and the registering of the order of Court sanctioning the
Scheme by the Companies and Intellectual Property Registration Office of
South Africa, have now been fulfilled.
3. CONFIRMATION OF SALIENT DATES AND TIMES
The remaining salient dates and times in respect of the Scheme are those
set out in the announcement released on SENS on 7 December 2007 and in the
press on 8 December 2007.
Johannesburg
12 December 2007
Investment Bank to the transaction
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to Altron and transactional sponsor to Bytes
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to Bytes
Nedbank Capital, a division of Nedbank Limited
(Registration number 1969/010630/06)
Legal advisor to Altron
Edward Nathan & Sonnenbergs Inc.
(Registration number 2006/018200/21)
Legal advisor to Bytes
Bowman Gilfillan Inc.
(Registration number 1998/021409/21)
Independent advisor to Bytes
Rand Merchant Bank Limited, a division of FirstRand Bank Limited
(Registration number 1929/001225/06)
Reporting accountants to Altron and Bytes
KPMG Inc.
(Registration number 1999/21543/21)
Date: 12/12/2007 12:05:52 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.
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