GEN - Makalani Holdings Limited - Announcement relating to the expiry of the 60
JSE
GEN
GEN - Makalani Holdings Limited - Announcement relating to the expiry of the 60
day grace period
MAKALANI HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number 2005/000726/06
("Makalani" or "the Company")
ANNOUNCEMENT RELATING TO THE EXPIRY OF THE 60 DAY GRACE PERIOD
1. Introduction
Makalani linked unitholders ("Unitholders") are referred to the circular
posted to Unitholders on 9 April 2010 (the "circular") and to the announcement
released on SENS on 13 May 2010 (fulfilment of conditions precedent) and
published in the press on 14 May 2010.
2. Grace Period
As set out in the circular, unitholders are reminded that, for 60 days from
Friday, 28 May 2010 ("the closing date"), Unitholders who in good faith are
able to demonstrate to the reasonable satisfaction of the board that they did
not receive the circular and/or notice of the general meeting will be entitled
to reacquire their original unitholding in Makalani, at the net cash
consideration, should they have been deemed to have accepted the offer by
reason of not validly completing the form of election and surrender and
returning it to the transfer secretaries prior to the closing date. Such
Unitholders will therefore be placed in the same position as they would have
been in had they not been deemed to have accepted the offer and consequently
had the offer consideration credited to them in exchange for their units
(a "good faith reinvestor").
A good faith reinvestor must contact the Makalani company secretary in
writing, to be received by the company secretary before Tuesday, 27 July 2010
and submit a letter to the board of Makalani certifying that they did not
receive the circular and/or the notice of general meeting and if they had they
would not have accepted the offer and requesting their units back in return
for the net cash consideration.
For clarity, this provision does not apply to Unitholders who received the
circular and/or notice of general meeting but failed to make a valid election
to remain invested in Makalani.
Illovo
29 June 2010
Merchant bank
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisor
Edward Nathan Sonnenbergs Inc
Date: 29/06/2010 09:55:01 Produced by the JSE SENS Department.
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