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MSM
MSM
MSM - Massmart - Competition tribunal hearing dates
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1940/014066/06
Share code: MSM
ISIN: ZAE000029534
("Massmart")
Wal-Mart Stores, Inc
Incorporated in the State of Delaware United States of America
Traded on the New York Stock Exchange under the symbol "WMT"
Acting through its indirect wholly-owned subsidiary
Main Street 830 (Proprietary) Limited
Registration number 2010/016839/07
("Walmart")
COMPETITION TRIBUNAL HEARING DATES
1. Introduction
Massmart shareholders ("shareholders") are referred to the joint
announcements previously published by Massmart and Walmart as well as the
circular to shareholders dated 9 December 2010 regarding Walmart`s offer to
acquire 51 Massmart ordinary shares from each Massmart ordinary shareholder
(other than the excluded shareholders) for every 100 Massmart ordinary shares
held for a cash consideration of R148,00 per ordinary share by way of a
scheme of arrangement in terms of section 311 of the Companies Act (Act 61 of
1973), as amended ("the Scheme").
2. Competition Tribunal hearing dates and revised important dates and times
Shareholders are advised that the Competition Tribunal ("the Tribunal"), at a
pre-hearing conference held on 18 February 2011, allocated the dates 22 to 24
March 2011 (both inclusive) for the merger hearing ("the Hearing") in
relation to the Scheme. The Tribunal will hand down its decision within 10
business days following the conclusion of the Hearing.
Assuming the Tribunal either approves the Scheme without conditions, or
subject to conditions acceptable to Walmart, and that no other conditions
precedent to the Scheme remain unfulfilled or if unfulfilled have been waived
at such time, the order of Court sanctioning the Scheme will be registered
with the Registrar of Companies ("the Registration") as soon as practical
thereafter. Revised important dates and times will be released on SENS and
published in the South African press at that time, but it is anticipated that
the record date to participate in the Scheme will be approximately two weeks
after Registration.
Johannesburg
21 February 2011
Sponsor to Massmart
Deutsche Securities (SA) (Proprietary) Limited
Date: 21/02/2011 15:41:00 Produced by the JSE SENS Department.
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