| Mon 29 Sep 2008, 7:43 | | BVT - The Bidvest Group Limited - Announcement to Bidvest and Nampak Limited |
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BVT
BVT
BVT - The Bidvest Group Limited - Announcement to Bidvest and Nampak Limited
("Nampak") ordinary shareholders
The Bidvest Group Limited
Incorporated in the Republic of South Africa
Registration number 1946/021180/06
Share code: BVT
ISIN: ZAE000117321
("Bidvest")
Announcement to Bidvest and Nampak Limited ("Nampak") ordinary shareholders
1 Introduction
Bidvest and Nampak ordinary shareholders are referred to:
* the announcement by Bidvest to Nampak ordinary shareholders released on the
Securities Exchange News Service ("SENS") of the JSE Limited on September
17 2008 detailing the terms of an offer, subject to the fulfillment of the
suspensive conditions, by Bidvest or a subsidiary of Bidvest, to acquire up
to 30% of the Nampak ordinary shares held by each of the Nampak ordinary
shareholders, other than Nampak or any of its subsidiaries ("the pro rata
offer"); and
* the announcement by Nampak released on SENS on September 26 2008
regarding, inter alia, a Nampak trading statement and information to Nampak
shareholders regarding the pro rata offer ("the Nampak September 26
announcement").
2 The pro rata offer
Bidvest draws the attention of shareholders to the suspensive condition to the
pro rata offer which relates to there being no material adverse change in either
market conditions or the financial position of Nampak which comes to the
attention of Bidvest.
Bidvest believes that the Nampak September 26 announcement contains information
which may constitute a material adverse change. Accordingly, the information in
that announcement, and subsequent discussions with Nampak management in relation
to the matters contained therein, will need to be evaluated by Bidvest.
Once the evaluation is complete, Bidvest will decide whether to proceed with the
pro rata offer at the price, or at all. A further announcement in this regard
will be made in due course.
By order of the Board
The Bidvest Group Limited
September 29 2008
Sandton
Investment Bank to Legal advisor to Sponsor to Bidvest
Bidvest Bidvest
Investec Bank Cliffe Dekker Investec Corporate
Limited Hofmeyr Finance
Date: 29/09/2008 07:43:01 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.
