| Wed 17 Dec 2008, 17:50 | | ABK - African Brick / Yakani Infraco - Revised salient dates and times in |
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ABK
ABK
ABK - African Brick / Yakani Infraco - Revised salient dates and times in
respect of the offer by Yakani Infraco to African Brick shareholders which is
now unconditional
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")
REVISED SALIENT DATES AND TIMES IN RESPECT OF THE OFFER BY YAKANI INFRACO TO
AFRICAN BRICK SHAREHOLDERS WHICH IS NOW UNCONDITIONAL
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"), as well as the salient dates
and times announcement in respect of the offer which was released on SENS on
Monday, 15 December 2008 and in the press on Wednesday, 17 December 2008.
The Competition Commission has subsequently approved the transaction without
conditions, pursuant to which Yakani Infraco has elected to waive the other
conditions precedent, and accordingly the offer is now unconditional.
2. Salient dates and times
As a result of the offer now being unconditional, the revised 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
Offer unconditional as from Thursday,18 December
commencement of business
2009
Last day to trade in shares on the JSE Friday, 16 January
Limited in order to be eligible to
participate in the offer
Shares trade "ex" the offer Monday, 19 January
Offer closes at 12:00 (see notes 2 & Friday, 23 January
4)
Record date to participate in the Friday, 23 January
offer
Results of the offer released on SENS Monday, 26 January
Payment date Monday, 26 January
Results of the offer published in the Tuesday, 27 January
South African press
Notes:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. All times indicated above are South African times.
3. Circular
Shareholders are advised that, notwithstanding anything to the contrary
contained in the circular posted to African Brick shareholders on Monday, 15
December 2008, unless otherwise notified in the press and on SENS the revised
salient dates and times set out in this notice will be applicable to the
offer.
Sandton
17 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 Advisers to Yakani Infraco
Tabacks & Associates (Pty) Limited
Date: 17/12/2008 17:50:21 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.
