| Tue 1 Dec 2009, 16:48 | | AND - Andulela Investment Holdings Limited - Announcement by Newshelf 1005 |
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AND - Andulela Investment Holdings Limited - Announcement by Newshelf 1005
(PROPRIETARY) limited ("NEWSHELF") of a firm intention by newshelf to make a
mandatory offer to the shareholders of Andulela
Andulela Investment Holdings Limited
(Previously DNR Capital Limited)
(Registration No. 1950/037061/06)
Share Code: AND ISIN Code: ZAE000125894
("Andulela" or "the company")
ANNOUNCEMENT BY NEWSHELF 1005 (PROPRIETARY) LIMITED ("NEWSHELF") OF A FIRM
INTENTION BY NEWSHELF TO MAKE A MANDATORY OFFER TO THE SHAREHOLDERS OF ANDULELA
Shareholders are referred to the announcement issued by Newshelf and published
in the press on 20 November 2009 (the "Newshelf announcement") in which Newshelf
advised, inter alia, that as a result of its acquisition of 144 576 717 Andulela
ordinary shares it is obliged, in terms of the Securities Regulation Code On
Take-overs and Mergers and the Rules of the Securities Regulation Panel (the
"SRP Code"), to extend a mandatory unconditional cash offer to shareholders of
Andulela at an offer price of 12 cents per share (the "offer").
The board of Andulela has appointed Java Capital (Proprietary) Limited as its
external adviser under the SRP Code (the "external adviser") to, inter alia,
provide appropriate external advice on the offer as to how it affects all
holders of securities, including specifically minority shareholders, and the
substance of such advice shall be made known to Andulela shareholders in a form
and manner approved by the Securities Regulation Panel.
As stated in the Newshelf announcement, an offer document providing further
information on the offer and containing, inter alia, a form of acceptance and
surrender will be posted by Newshelf to Andulela shareholders in due course.
After which an offeree board circular will be posted by Andulela to Andulela
shareholders setting out, inter alia, the Andulela board`s views on the offer
and the substance of the advice given to the Andulela board by the external
adviser.
1 December 2009
Sponsor and external adviser
Java Capital (Proprietary) Limited
Date: 01/12/2009 16:48:01 Produced by the JSE SENS Department.
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