MTL - Mercantile - Response by majority shareholder and Withdrawal of Cautionary
MTL
MTL
MTL - Mercantile - Response by majority shareholder and Withdrawal of Cautionary
Mercantile Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/000164/06)
Share code: MTL ISIN: ZAE000064721
("Mercantile" or "the company")
RESPONSE BY MAJORITY SHAREHOLDER AND WITHDRAWAL OF CAUTIONARY
Mercantile shareholders are referred to the detailed announcement dated 30 June
2011 regarding an unsolicited firm intention to acquire the entire issued share
capital of Mercantile ("the firm intention") received from The Bidvest Group
Limited ("Bidvest") ("the Offer"). Conditions precedent to the Offer were, inter
alia, that it will not be made unless Bidvest receives, by no later than 22 July
2011, a signed undertaking from Caixa Geral De Depositas S.A. ("CGD") in respect
of their total shareholding, to accept the Offer once made.
The board of directors of Mercantile has received formal communication from the
board of directors of CGD that they are not prepared to provide Bidvest with
such undertaking to accept the Offer.
Mercantile shareholders are therefore advised that they are no longer required
to exercise caution when dealing in their Mercantile shares.
Johannesburg
6 July 2011
Sponsor to Mercantile: Bridge Capital Advisors (Proprietary) Limited
Date: 06/07/2011 17:05:01 Produced by the JSE SENS Department.
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