| Thu 15 May 2008, 12:10 | | CLE - Clientele Life - Implementation Of The Schem |
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CLE
CLE
CLE - Clientele Life - Implementation Of The Scheme Of Arrangement
Clientele Life Assurance Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1973/016606/06)
Share code: CLE & ISIN: ZAE000013397
("Clientele Life")
Clientele Limited
(Formerly, Newshelf 901 (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2007/023806/06)
Share code: CLI & ISIN: ZAE000117438
("Clientele")
IMPLEMENTATION OF THE SCHEME OF ARRANGEMENT IN TERMS OF SECTION 311 OF THE
COMPANIES ACT, 1973 (ACT 61 OF 1973), AS AMENDED, PROPOSED BY CLIENTeLE
BETWEEN CLIENTeLE LIFE AND ITS SHAREHOLDERS ("THE SCHEME")
Further to the announcement of 30 April 2008, Clientele Life shareholders are
advised that the High Court of South Africa (Witwatersrand Local Division)
sanctioned the scheme on Tuesday, 13 May 2008 and the Order of Court
sanctioning the scheme has been registered by the Registrar of Companies. All
of the conditions necessary for the implementation of the scheme have been
fulfilled.
Settlement of scheme consideration
Clientele Life shareholders are reminded of the following regarding settlement
of the scheme consideration:
- Holders of dematerialised shares in Clientele Life
Shareholders owning dematerialised shares in Clientele Life need take no
further action in regard to the new Clientele shares due to them in terms of
the scheme. Such shareholders will have their accounts held at their CSDPs or
brokers credited with the relevant number of new Clientele shares on Monday,
26 May 2008.
- Holders of certificated shares in Clientele Life
Shareholders owning certificated shares in Clientele Life are required to
surrender their share certificates or other documents of title in respect of
their Clientele Life shares to Clientele Life`s transfer secretaries,
Computershare Investor Services (Proprietary) Limited ("transfer
secrertaries"), Ground Floor, 70 Marshall Street, Johannesburg, 2001, South
Africa (PO Box 61763, Marshalltown, 2017, South Africa) in order to claim the
share certificates in respect of their new Clientele shares. For this purpose,
a pink form of acceptance, surrender and transfer ("Form") was included in the
scheme document issued on 4 April 2008.
A further copy of the Form, accompanied by this announcement, will be posted
to all shareholders of Clientele Life on or about Thursday, 15 May 2008.
Shareholders who have already surrendered their Clientele Life share
certificates or other documents of title, or who lodge their Clientele Life
share certificates or other documents of title with the transfer secretaries
on or prior to Friday, 23 May 2008 will have their new Clientele share
certificates posted to them by registered mail on Monday, 26 May 2008.
Shareholders who surrender their Clientele Life share cerificates or other
documents of title after Friday, 23 May 2008 will have the new Clientele share
certificates posted to them by registered mail within five business days of
receipt thereof by the transfer secretaries.
Listings on the JSE Limited ("JSE")
Clientele Life shareholders are also reminded that:
- the listing of the shares of Clientele Life will be suspended from the
commencement of trade on the JSE on Monday, 19 May 2008;
- the listing of the shares of Clientele will commence from the commencement
of trade on the JSE on Monday, 19 May 2008; and
- the termination of the listing of the shares of Clientele Life will take
place from the commencement of trade on the JSE on Monday, 26 May 2008.
Johannesburg
15 May 2008
Corporate adviser and sponsor
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Attorneys
Edward Nathan Sonnenbergs Inc.
Registration number 2006/018200/21
Auditors and reporting accountants
PricewaterhouseCoopers Inc
Chatered Accountants (SA)
Chatered Accountants and Auditors
(Registration no 1998/012055/21)
Date: 15/05/2008 12:10:01 Produced by the JSE SENS Department.
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