| Thu 17 Jul 2008, 17:45 | | HCI / JNC - Hosken Consolidated Investments Limited - Fulfilment of conditions |
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HCI JNC
HCI JNC
HCI / JNC - Hosken Consolidated Investments Limited - Fulfilment of conditions
precedent and salient dates announcement
17 July 2008
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI ISIN: ZAE000003257)
("HCI")
JOHNNIC HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1889/000429/06)
(Share code: JNC ISIN: ZAE000024352)
("Johnnic")
FULFILMENT OF CONDITIONS PRECEDENT AND SALIENT DATES ANNOUNCEMENT
1 Introduction
Shareholders are referred to the firm intention and withdrawal of cautionary
announcement ("firm intention announcement") released by HCI and Johnnic on the
Securities Exchange News Service ("SENS") of the JSE Limited on Tuesday, 8 July
2008 and published in the press on Wednesday, 9 July 2008, wherein shareholders
were informed of HCI, through its wholly-owned subsidiary, Mercanto Investments
(Proprietary) Limited, having expressed a firm intention to the board of
directors of Johnnic to make an offer to acquire all the shares in the issued
share capital of Johnnic, other than the shares already owned by the HCI group
(the "offer shares"), in accordance with and as contemplated by the Securities
Regulation Code on Take-overs and Mergers and the Rules of the Securities
Regulation Panel ("SRP Code") (the "offer").
2 Conditions precedent
The conditions precedent to the offer, referred to in paragraph 5 of the firm
intention announcement, have now been fulfilled and the offer will therefore be
unconditional on the opening date as set out in paragraph 3 below.
3 Salient dates
The salient dates of the offer are set out in the table below:
2008
Circular posted to Johnnic shareholders Monday, 21 July
on
Opening date of the offer at 09:00 on Monday, 21 July
First offer consideration settlement
date in respect of firm
acceptances of the offer before 12:00 Monday, 21 July
on Monday, 21 July
Offer consideration settlement dates in Offer consideration
respect of firm acceptances of the settlement dates,
offer received before 12:00 on the being every seventh
business day preceding the relevant calendar day after
settlement date Monday, 21 July (or
if not a business
day, the next
business day) until
seven calendar days
after the closing
date (or if not a
business day, the
next business day)
Last day to trade in order for Johnnic Five business days
shareholders to participate prior to the
in the offer closing date
Johnnic shares trade ex the right to Four business days
participate in the offer prior to the
closing date
Record date on which Johnnic
shareholders must be recorded
in the register in order to participate The closing date
in the offer
Closing date of the offer at 12:00 The closing date as
will be
announced on SENS and
published in the
press
The above dates and times are subject to amendment, subject to the prior written
approval from the SRP, at the discretion of HCI and/or Johnnic. Any such
amendment will be released on SENS and published in the South African press.
17 July 2008
Sandton
Investment bank and sponsor to HCI and Johnnic
Investec Bank Limited
(Registration number 1969/004763/06)
Legal advisor to HCI
Edward Nathan & Sonnenbergs Inc.
(Registration number 2006/018200/21)
Legal advisor to Johnnic
Webber Wentzel
Date: 17/07/2008 17:45:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
