| Mon 15 Dec 2008, 14:00 | | ABK - African Brick / Yakani Infraco - Salient Dates And Times In Respect Of The |
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ABK
ABK
ABK - African Brick / Yakani Infraco - Salient Dates And Times In Respect Of The
Offer By Yakani Infraco To African Brick Shareholders
AFRICAN BRICK CENTRE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/006214/06)
JSE Share code: ABK ISIN: ZAE000105169
("African Brick" or "the Company")
YAKANI INFRACO (PTY) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/043429/07)
("Yakani Infraco")
SALIENT DATES AND TIMES IN RESPECT OF THE OFFER BY YAKANI INFRACO TO AFRICAN
BRICK SHAREHOLDERS
1. Introduction
Shareholders are referred to the announcement released on SENS on Monday,10
November 2008 and in the press on Tuesday, 11 November 2008, wherein they were
advised that the Company has received a firm intention to make an offer from
Yakani Infraco to acquire 51% of the entire issued share capital of the Company
at 28 cents per share ("the offer").
The offer is to be implemented in terms of the Companies Act, 1973 (Act 61 of
1973), as amended ("the Act") and the Securities Regulation Panel ("SRP") Code.
Shareholders who do not wish to accept the offer need take no further action and
will be deemed to have not accepted the offer. In this regard shareholders
should note that Yakani Infraco does not intend to invoke the provisions of
S440K of the Act.
2. Salient dates and times
The expected dates and times pertaining to the offer are set out below:
2008
Circular posted to shareholders Monday, 15 December
Offer opens at 09:00 Monday, 15 December
2009
Expected date of receiving Competition Friday, 27 February
Commission approval
Offer unconditional as from commencement Monday, 2 March
of business
Last day to trade in shares on the JSE Friday, 13 March
Limited ("JSE") in order to be eligible
to participate in the offer
Shares trade "ex" the offer Monday, 16 March
Offer closes at 12:00 (see notes 2 & 4) Friday, 20 March
Record date to participate in the offer Friday, 20 March
Results of the offer released on SENS Monday, 23 March
Payment date Monday, 23 March
Results of the offer published in the Tuesday, 24 March
South African press
Notes:
The above dates and times are subject to amendment at the discretion of Yakani
Infraco and/or African Brick. Any such amendment will be released on SENS and
published in the South African press.
Certificated African Brick shareholders are required to complete and return the
form of acceptance, election, surrender and transfer (blue), contained in the
circular to shareholders, in accordance with the instructions contained therein
to be received by the transfer secretaries by no later than 12:00 on the closing
date.
In the case of certificated African Brick shareholders who have accepted the
offer and who have surrendered their documents of title, payment of the offer
consideration will be made by cheque or direct deposit into the African Brick
shareholder`s bank account, whichever a certificated African Brick shareholder
may instruct, at the risk of the African Brick shareholder concerned.
Dematerialised African Brick shareholders (including own-name dematerialised
African Brick shareholders) are required to notify their duly appointed CSDP or
broker of their intention to accept the offer in the manner and time stipulated
in the agreement governing the relationship between the dematerialised African
Brick shareholder and his CSDP or broker.
In the case of dematerialised African Brick shareholders (including own-name
dematerialised African Brick shareholders); payment will be made by crediting
their accounts at the CSDP or broker, as the case may be, in accordance with the
agreement governing the relationship between the dematerialised African Brick
shareholder and the CSDP or broker concerned.
No dematerialisation or rematerialisation of African Brick shares will take
place between the last day to trade in order for African Brick shareholders to
be eligible to participate in the offer and the closing date, both days
inclusive.
All times indicated above are South African times.
3. Circular
A circular, which has been approved by the SRP and the JSE, providing full
information on the offer and incorporating a form of acceptance, surrender and
transfer will be posted to African Brick shareholders today, Monday, 15 December
2008. This circular is available in English only and additional copies may be
obtained from the registered offices of African Brick or the transfer secretary,
being Link Market Services South Africa (Pty) Limited.
Sandton
15 December 2008
Corporate and designated adviser to African Brick
PSG Capital (Pty) Limited
Independent adviser to African Brick
Moore Stephens (JHB) Corporate Finance
Attorneys to African Brick
Rossouws, Leslie Inc.
Corporate Adviser to Yakani Infraco
Deloitte & Touche Corporate Finance
Corporate Law Advisors to Yakani Infraco
Tabacks & Associates (Pty) Limited
Date: 15/12/2008 14:00:20 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.
