JSE - JSE Limited/BESA - Joint Announcement by BESA and the JSE Relating To
JSE
JSE
JSE - JSE Limited/BESA - Joint Announcement by BESA and the JSE Relating To
Approval of Scheme of Arrangement by Competition Authorities
Bond Exchange of South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2007/034441/06)
("BESA")
JSE Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
Share code: JSE & ISIN: ZAE000079711
("JSE")
JOINT ANNOUNCEMENT BY BESA AND THE JSE RELATING TO APPROVAL OF SCHEME OF
ARRANGEMENT BY COMPETITION AUTHORITIES
Shareholders are referred to the circular to BESA shareholders, dated 20 January
2009 ("the Circular"), regarding the scheme of arrangement proposed by the JSE
between BESA and its shareholders in terms of which the JSE would acquire the
entire issued share capital of BESA ("the Scheme").
The JSE and BESA welcome the Competition Tribunal`s unconditional approval of
the Scheme today. This approval, together with the approvals obtained from the
South African Reserve Bank, the Securities Regulation Panel and the Financial
Services Board, means that all regulatory approvals required in respect of the
Scheme have been obtained.
The remaining suspensive conditions to the Scheme are the sanctioning of the
Scheme by the High Court of South Africa ("the Court") and the registration of
that Court order by the Registrar of Companies in terms of the Companies Act,
Act 61 of 1973, as amended. On 9 June 2009 BESA will make application to the
Court for sanctioning, without modification, of the Scheme as detailed in the
Circular. If the Court sanctions the Scheme, BESA and the JSE will release a
further joint announcement on SENS and publish the announcement in the South
African press, confirming the revised salient dates and times for the
implementation of the Scheme.
Johannesburg
3 June 2009
Financial advisor to BESA
ABSA Capital
Legal Advisor to the JSE and Attorneys to the Scheme
Webber Wentzel
Legal advisor to BESA
Edward Nathan Sonnenbergs Inc
Sponsor to JSE
Rand Merchant Bank (A division of FirstRand Bank Limited)
Competition advisor to the JSE
Nortons Inc
Date: 03/06/2009 16:34:01 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
