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BSB
BSB
BSB - The House of Busby - Update On The Scheme Of Arrangement
THE HOUSE OF BUSBY LIMITED
(Incorporated in the Republic of South Africa)
(Registration No. 1997/009173/06)
Share code: BSB ISIN number: ZAE000013637
("Busby" or "the company)
UPDATE ON THE SCHEME OF ARRANGEMENT
Busby shareholders are advised that in pursuance of advice received from its
legal advisors, the date ("the return date") on which the hearing of the
application to the High Court of South Africa (Witwatersrand Local Division)
("the Court") for the sanction of the scheme of arrangement has been postponed
until the requisite approval from the Competition Authorities to implement the
transaction has been received. It is anticipated that the approval from the
Competition Authorities will be received on or about 26 March 2008. The return
date has accordingly been postponed from 11 March 2008 to 1 April 2008. To the
extent that the approval from the Competition Authorities is not received by
26 March 2008, application will be made to the Court on 1 April 2008 to postpone
the return date. If applicable, a further announcement will be made on SENS and
in the press advising of the postponed return date.
All of the remaining conditions precedent to the scheme have been fulfilled save
for:
- the approval of the transaction by the Competition Authorities;
- the Court sanctioning the scheme on the return date; and
- the registration of the notarially certified copy of the Order of Court
sanctioning the scheme with the Companies and Intellectual Property
Registration Office.
An announcement will be published on SENS and in the press once the court has
sanctioned the scheme and setting out the salient dates for the implementation
of the scheme.
Johannesburg
11 March 2008
Corporate advisor
and transaction sponsor to Busby
Java Capital (Proprietary) Limited
Attorneys and tax advisor to the proposer
Webber Wentzel (incorporating Mallinicks)
Attorneys to the scheme
Fluxmans Incorporated
Independent advisor
PKF Corporate Finance (Proprietary) Limited
Date: 11/03/2008 13:21:00 Produced by the JSE SENS Department.
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