ADR - Adcorp Holdings Limited - Fulfilment of the suspensive conditions
ADR
ADR
ADR - Adcorp Holdings Limited - Fulfilment of the suspensive conditions
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share Code: JSE ADR ISIN:ZAE000000139
("Adcorp" or the "the company")
FULFILMENT OF THE SUSPENSIVE CONDITIONS RELATED TO THE ACQUISITION OF THE
BUSINESSES OF STAFF U NEED (PROPRIETARY) LIMITED ("SUN") AND DITHOMO LABOUR
SERVICES (PROPRIETARY) LIMITED ("DITHOMO") BY ADCORP ("THE ACQUISITION")
FULFILMENT OF THE SUSPENSIVE CONDITIONS
Adcorp shareholders are referred to the announcement released on SENS on 21
April 2008, regarding the acquisition of the businesses of SUN and Dithomo and
are advised that all suspensive conditions have been fulfilled, namely:
- The adoption of a resolution by the shareholders of SUN and Dithomo in
terms of Section 228 of the Companies Act approving the transaction;
- Adcorp being satisfied with its due diligence investigation into the
business and affairs of SUN and Dithomo;
- Approval of the acquisition by the Competition Commission; and
- Conclusion of employment agreements between Adcorp and the key employees of
SUN and Dithomo, including appropriate restraint undertakings.
Johannesburg
31 July 2008
Investment bank and transaction sponsor to Adcorp
Attorneys to Adcorp
Investec Corporate Finance
Roodt Inc.
Date: 31/07/2008 07:05:29 Produced by the JSE SENS Department.
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