| Tue 30 Nov 2010, 14:15 | | SPS - Spescom - Sanctioning of the Scheme of Arrangement |
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SPS
SPS
SPS - Spescom - Sanctioning of the Scheme of Arrangement
Spescom Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/001083/06)
Share code: SPS
ISIN: ZAE000017919
("Spescom")
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Shareholders are referred to the results of the scheme meeting announcement
published on the Securities Exchange News Service ("SENS") of the JSE Limited
("JSE") on Monday, 22 November 2010, in which Spescom shareholders were advised
that the requisite majority of scheme members present and voting, either in
person or by proxy, approved the scheme of arrangement ("the scheme") in terms
of section 311 of the Companies Act, No 61 of 1973, as amended ("the Companies
Act"), as proposed by Jasco Electronics Holdings Limited ("Jasco") between
Spescom and its shareholders
Shareholders are advised that the High Court of South Africa (South Gauteng High
Court, Johannesburg) granted an order ("Order of Court") on Tuesday, 30 November
2010, sanctioning the scheme, subject to the fulfilment or waiver of the
following conditions precedent -
- the Order of Court sanctioning the scheme being registered by the Companies
and Intellectual Property Registration Office in terms of section 311(6)(a)
of the Companies Act,; and
- the scheme being approved unconditionally as a merger under the Competition
Act, No. 89 of 1998, as amended, by the Competition Authorities or subject
to such conditions as Jasco may approve in writing, such approval not to be
unreasonably withheld.
Midrand
30 November 2010
Corporate Adviser and Sponsor
Investec Bank Limited
Attorneys
Werksmans
Date: 30/11/2010 14:15:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
