| Wed 11 Jun 2008, 8:14 | | RES / DIV - Resilient / Diversified - Results Of The Court Hearing To Sanction |
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DIV RES
DIV RES
RES / DIV - Resilient / Diversified - Results Of The Court Hearing To Sanction
The Scheme
Resilient Property Income Fund Limited
(Registration No. 2002/016851/06)
Share Code: RES
ISIN Code: ZAE000043642
("Resilient")
Diversified Property Fund Limited
(Registration No. 2005/029685/06)
Share Code: DIV
ISIN Code: ZAE000072369
("Diversified")
RESULTS OF THE COURT HEARING TO SANCTION THE SCHEME
Diversified linked unitholders are advised that the High Court of South Africa
today sanctioned the scheme of arrangement ("the scheme") proposed by Resilient
between Diversified and its linked unitholders (other than Resilient).
It is anticipated that a copy of the Order of Court sanctioning the scheme will
be registered by the Registrar of Companies on 12 June 2008. Save for the
approval by the Competition Authorities, which is anticipated on 11 June 2008,
all the conditions precedent to the scheme will have been fulfilled upon
registration of the Order of Court.
The salient dates regarding the implementation of the scheme are anticipated to
be as follows:
2008
Results of court hearing published in the press Wednesday,11 June
on
Receipt of Competition Authority approval on Wednesday,11 June
Registration of Order of Court on Thursday,12 June
Finalisation date Thursday,12 June
Last day to trade in order to participate in
the scheme consideration (see note 3 below) Friday, 20 June
Suspension of listing of Diversified linked Monday, 23 June
units on
Scheme consideration record date, being the
date on which scheme participants must be
recorded in the register to receive the scheme
consideration, by close of trading on Friday, 27 June
Operative date of the scheme on Monday, 30 June
Scheme consideration posted to certificated
scheme participants (if documents of title are
received on or prior to 12:00 on the scheme
consideration record date) on or about Monday, 30 June
Dematerialised scheme participants` accounts
(held at their CSDP or broker) updated on or Monday, 30 June
about
Termination of listing of Diversified linked Monday, 30 June
units on
Notes:
All dates and times may be changed by mutual agreement between Diversified and
Resilient and/or may be subject to certain regulatory approvals. Any change will
be released on SENS and published in the press.
All times given are local times in South Africa.
Diversified linked unit certificates may not be dematerialised after Friday, 20
June 2008.
10 June 2008
Corporate advisor, legal advisor and sponsor to Resilient and sponsor to
Diversified
Java Capital (Proprietary) Limited
Independent advisor
PKF Corporate Finance (Proprietary) Limited
Attorneys to the scheme
Fluxmans Incorporated
Date: 10/06/2008 17:54:41 Produced by the JSE SENS Department.
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