| Thu 23 Sep 2010, 14:40 | | BJM - Barnard Jacobs Mellet Holdings Limited - Update on conditions |
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BJM
BJM
BJM - Barnard Jacobs Mellet Holdings Limited - Update on conditions
precedent and transaction timetable
Barnard Jacobs Mellet Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1995/004798/06)
Share code: BJM ISIN: ZAE000014262
("BJM")
UPDATE ON CONDITIONS PRECEDENT AND TRANSACTION TIMETABLE
Shareholders are referred to the announcement released on the Securities
Exchange News Service on Tuesday, 31 August 2010 confirming the
sanctioning of the Scheme of Arrangement in terms of section 311 of the
Companies Act, no 61 of 1973, as amended ("the Companies Act"), proposed
by FirstRand Limited ("FirstRand") between BJM and its shareholders ("the
Scheme"), in terms of which FirstRand Investment Holdings (Proprietary)
Limited ("FRIHL"), a wholly-owned subsidiary of FirstRand, propose to
acquire all of the ordinary shares in BJM ("BJM Shares"), for a cash
consideration of R4.50 per BJM Share, payable by FirstRand on behalf of
FRIHL.
In this regard, shareholders are advised that the Order of Court
sanctioning the Scheme has been registered by the Companies and
Intellectual Property Registration Office in terms of Section 311(6) (a)
of the Companies Act.
As advised previously, the implementation of the Scheme is subject to
regulatory approval, and the scheme will only become operative upon the
fulfilment of this condition. Accordingly shareholders will be provided
with the revised Scheme implementation dates as soon as this last
condition precedent has been fulfilled.
Illovo
23 September 2010
Sponsor to BJM
Barnard Jacobs Mellet Corporate Finance (Proprietary) Limited
Independent Sponsor to BJM
Deloitte & Touche Sponsor Services (Proprietary) Limited
Date: 23/09/2010 14:40:02 Produced by the JSE SENS Department.
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