| Wed 19 Mar 2008, 15:00 | | SMR - Samrand Develoment Holdings - Announcement |
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SMR
SMR
SMR - Samrand Develoment Holdings - Announcement
SAMRAND DEVELOMENT HOLDINGS LIMITED
(Incorporated In the Republic of South Africa)
(Registration number 1971/003132/06)
Share code: SMR & ISIN: ZAE000010419
("Samrand" or "the Company")
SECTION 440K OFFER BY CAVCON (PTY) LIMITED ("CAVCON") TO MINORITY SHAREHOLDERS
OF SAMRAND DEVELOPMENT HOLDINGS LIMITED WHO HAVE NOT ACCEPTED THE OFFER
Shareholders of Samrand are referred to the announcement dated 22 February 2008,
whereby it was mentioned that Cavcon would be entitled to compulsorily acquire
all remaining offer shares from the offer shareholders in terms of Section 440K
of the Companies Act, Act 73 of 1961, ("the Act").
A circular in this regard has been approved by the JSE Limited ("the JSE") and
the Securities Regulation Panel ("the SRP")(" the notice"), and will be posted
to shareholders on Thursday, 20 March 2008. In terms of the notice, the
compulsory acquisition will become effective upon the later of the expiration of
six weeks from the notice (being 20 March 2008), until the close of business on
Monday, 5 May, 2008, or dismissal by the High Court of South Africa of an
application, if any, made in terms of section 440K(1)of the Act, by any Samrand
shareholder who, prior to the closing date, had not accepted the offer.
Subsequent to the above, an application will be made to the JSE to terminate the
listing of Samrand, as the Company shall no longer meet the requirements of
section 4.28 (e) and (f) of the JSE Listings Requirements with regard to
shareholder spread. It is expected that Samrand`s listing will be terminated on
the JSE at the commencement of trade on or about Monday, 12 May 2008.
Sandton
19 March 2008
Corporate Adviser
Manhattan Equity Corporate Finance (Pty) Limited
Sponsor
Arcay Moela Sponsors (Pty) Limited
Date: 19/03/2008 15:00:01 Produced by the JSE SENS Department.
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