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KNG
KNG
KNG - Kingco - Salient Dates Relating To The Proposed Scheme Of Arrangement
King Consolidated Holdings Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1992/006472/06)
Share code: KNG ISIN: ZAE000073458
("Kingco" or "the company")
Pocot Trust
(Registered in the Republic of South Africa)
(Registration number TM 3375)
("Pocot Trust")
SALIENT DATES RELATING TO THE PROPOSED SCHEME OF ARRANGEMENT
1. COURT ORDER CONVENING A SCHEME MEETING
Further to the announcement dated 4 August 2009, shareholders of Kingco are
advised that the South Gauteng High Court (Johannesburg) ("the Court") granted
on Tuesday 1 September 2009 an order to convene a meeting of Kingco
shareholders ("the scheme meeting") to consider and, if deemed fit, to approve
with or without modification, the scheme of arrangement in terms of section 311
of the Companies Act, 1973 (Act 61 of 1973), as amended, proposed by Pocot
Trust between the company and its shareholders, other than Pocot Trust ("the
scheme" and "the scheme members") in terms of which Pocot Trust will acquire
all of the shares held by the scheme members for a consideration of 40 cents
per scheme share.
2. SALIENT DATES AND TIMES RELATING TO IMPLEMENTATION OF THE SCHEME
2009
Last date to trade Kingco shares on the JSE Limited ("the JSE")
cum the scheme so as to be registered to vote
at the scheme meeting Wednesday 16 September
Record date to vote at the scheme meeting (17:00) Wednesday 23 September
Last day to lodge forms of proxy for the scheme
meeting (10:00) Friday 25 September
Scheme meeting held (10:00) Tuesday 29 September
Court hearing to sanction the scheme (10:00) Tuesday 6 October
Results of the scheme meeting released on SENS Tuesday 6 October
Last date to trade for the scheme Friday 16 October
Consideration record date for the scheme Friday 23 October
Operative date of the scheme Monday 26 October
Cheques in respect of the scheme consideration posted
to scheme members who have surrendered documents of
title by Friday 23 October 2009 (or within five
business days of documents of title being received
by the transfer secretaries) or credited to the
accounts held by the CSDP or broker Monday 26 October
Listing of Kingco terminates from the
commencement of trading Tuesday 27 October
3. DOCUMENTATION
A circular containing full details of the scheme (including the Order of Court
and the notice convening the scheme meeting) which has been approved by the
Securities Regulation Panel and the JSE, will be posted to the relevant
shareholders today.
By order of the board
Randburg
3 September 2009
Sponsor
ARCAY MOELA
Independent professional advisor
CHARLES ORBACH & COMPANY
Corporate Finance (Proprietary) Limited
Attorneys
FLUXMANS ATTORNEYS
Date: 03/09/2009 11:53:01 Produced by the JSE SENS Department.
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