NPK - Nampak - Proposal By The Bidvest Group Limited ("Bidvest") To Acquire 25%
NPK
NPK
NPK - Nampak - Proposal By The Bidvest Group Limited ("Bidvest") To Acquire 25%
Of Nampak And Cautionary Announcement
Nampak Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/008070/06)
Share code: NPK
ISIN: ZAE000071676
("Nampak")
Proposal by The Bidvest Group Limited ("Bidvest") to acquire 25% of Nampak and
cautionary announcement
Nampak refers its shareholders to the announcement made by Bidvest on 4
September 2008 in which it announced its intention to propose a pro rata offer
to acquire 25% of the ordinary shares held by each Nampak shareholder by no
later than 17h00 on 17 September 2008. In terms of the pro rata offer, Nampak
shareholders would receive one new Bidvest share for every 7.50 Nampak ordinary
shares held. The Bidvest ordinary shares would be issued ex any normal ordinary
dividend or distribution payable by Bidvest to its shareholders in respect of
the six month period ended 30 June 2008. Bidvest currently holds approximately
5% of Nampak. The proposed pro rata offer would be subject to a number of
suspensive conditions, including Bidvest owning at least 20% of the Nampak
shares in issue after completion of the proposed pro rata offer.
The board of Nampak will meet early next week to consider the pro rata offer.
Cautionary announcement
Shareholders are therefore advised to exercise caution when dealing in Nampak
securities until a further announcement is made.
Sandton
4 September 2008
Sponsor: UBS South Africa (Pty) Ltd
Date: 04/09/2008 16:16:16 Produced by the JSE SENS Department.
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