ERM - Enterprise Risk Management - Dealing In Securities
ERM
ERM
ERM - Enterprise Risk Management - Dealing In Securities
Enterprise Risk Management Limited
Incorporated in the Republic of South Africa
(Registration number: 1995/001603/06)
Share code: ERM & ISIN: ZAE000037701
("ERM" or "the company")
DEALING IN SECURITIES BY COMPANY AND BY CONCERT PARTY
DISCLOSURE UNDER RULE 7.1 OF THE SECURITIES REGULATION PANEL CODE ON TAKE-OVERS
AND MERGERS
On 1 December 2008 shareholders were advised that beneficial shareholders of
approximately 63.93% of the issued share capital of ERM (excluding shares held
in treasury), represented by Mr Mark Stein ("the proposer"), had delivered to
the ERM board a letter confirming their intention to make an offer to the
minority shareholders of ERM to acquire all of their ordinary shares in the
company for a cash consideration of 130 cents per scheme share.
Shareholders are advised that since that date 6 559 275 ordinary shares were
repurchased by Risk Outsourcing (Pty) Ltd, a wholly owned subsidiary of ERM, to
be held in treasury, at prices between 123 cents per share and 125 cents per
share. This resulted in the shares held in treasury exceeding the maximum of 10%
permitted in terms of section 89 of the Companies Act. In order to remedy this 1
900 000 shares were disposed of through the market on 30 January 2009 at a price
of 125 cents per share.
Shareholders are also advised that since 1 December 2008 a member of the
consortium intending to make the offer has purchased 1 900 000 ordinary shares
in the company at a price of 125 cents per share.
Shareholders are accordingly advised that after accounting for these
transactions the proposer is the beneficial shareholder of approximately 73.97%
of the issued share capital of the company (excluding shares held in treasury).
5 February 2009
Sponsor to ERM
Sasfin Capital
A division of Sasfin Bank Limited
Date: 05/02/2009 15:52:04 Produced by the JSE SENS Department.
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