| Mon 7 Apr 2008, 14:47 | | BSB - The House Of Busby - Fulfilment Of Condition |
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BSB
BSB
BSB - The House Of Busby - Fulfilment Of Conditions Precedent And
Salient Dates
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)
FULFILMENT OF CONDITIONS PRECEDENT AND SALIENT DATES
Further to the announcement released on SENS on 1 April 2008 and in the press
on 2 April 2008, Busby shareholders are advised that:
- the Competition Tribunal has unconditionally approved the implementation
of the transaction; and
- a notarially certified copy of the Order of Court sanctioning the scheme
of arrangement ("the scheme") has been registered with the Companies and
Intellectual Property Registration Office.
Accordingly, all of the conditions precedent to the scheme have been
fulfilled. The salient dates regarding the implementation of the scheme are as
follows:
Last day to trade in order to participate in Friday, 18 April 2008
the scheme consideration
Suspension of listing of Busby shares at Monday, 21 April 2008
commencement of trading on
Scheme consideration record date, being the Friday, 25 April 2008
date on which scheme participants must be
recorded in the register to receive the scheme
consideration, by close of trading on
Operative date of the scheme at the Tuesday, 29 April 2008
commencement of trading on
Scheme consideration posted to certificated Tuesday, 29 April 2008
scheme participants (if documents of title are
received on or prior to 12:00 on the scheme
consideration record date) on or about
Dematerialised scheme participants` accounts Tuesday, 29 April 2008
(held at their CSDP or broker) updated on
Termination of listing of Busby shares at the Wednesday, 30 April 2008
commencement of trading on
The scheme consideration payable to scheme members is R21.00 per Busby share
plus interest at the prime rate for the period from 1 February 2008 to the
date on which the scheme consideration is paid, including the first day and
excluding the last day. Based on the current prime rate of 14.5%, the interest
payable to scheme members will amount to R0.74 per share. If, following the
Monetary Policy Committee meeting scheduled to be held on 9 and 10 April 2008,
the Governor of the South African Reserve Bank amends the repo rate which
results in a change to the prime rate, an announcement relating to any change
in the interest payable to scheme members will be released on SENS.
Johannesburg
7 April 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: 07/04/2008 14:47:10 Produced by the JSE SENS Department.
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