| Mon 31 Jan 2011, 10:50 | | REM - Remgro Limited - Finalisation announcement relating to the transfer |
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REM
REM
REM - Remgro Limited - Finalisation announcement relating to the transfer
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
(ISIN: ZAE000026480)
(Share code: REM)
("Remgro" or "the Company")
FINALISATION ANNOUNCEMENT RELATING TO THE TRANSFER OF FIRSTRAND LIMITED
("FIRSTRAND") AND MMI HOLDINGS LIMITED ("MMI HOLDINGS") SHARES TO THE
FOUNDERS OF RMB HOLDINGS LIMITED ("RMBH"), IN EXCHANGE FOR RMBH SHARES
Remgro shareholders are referred to the detailed terms announcement released
on SENS on 15 December 2010 and published in the press on 17 December 2010
(the "Remgro Announcement"), wherein Remgro advised shareholders that a group
of RMBH and FirstRand Directors, comprising Messrs GT Ferreira, LL Dippenaar
and PK Harris ("the Founders") have reached agreement with Remgro to acquire
from Remgro, 20,543,977 FirstRand ordinary shares, together with 3,467,125
MMI Holdings ordinary shares in exchange for 12,112,707 RMBH ordinary shares
beneficially held by the Founders (the "Founders` FirstRand Exchange").
Shareholders are advised that Remgro has obtained advice from an independent
expert acceptable to the JSE that the Founders` FirstRand Exchange is fair
insofar as the shareholders of Remgro are concerned, in compliance with
paragraph 10.7(b) of the JSE Listings Requirements and such opinion is
available for inspection at the company`s registered offices.
As such the only condition precedent has been fulfilled and the trade will be
executed.
31 January 2011
Merchant bank and sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Legal advisors
DLA Cliffe Dekker Hofmeyr Inc
Independent expert
KPMG Service (Proprietary) Limited
Date: 31/01/2011 10:50:07 Produced by the JSE SENS Department.
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