| Tue 25 Oct 2011, 16:30 | | FWD - Freeworld - Posting of circular and Notice of General Meeting |
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FWD
FWD
FWD - Freeworld - Posting of circular and Notice of General Meeting
Freeworld Coatings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/021624/06)
Share code: FWD
ISIN: ZAE000109450
("Freeworld")
ANNOUNCEMENT BY FREEWORLD IN RELATION TO POSTING OF THE CIRCULAR AND THE
NOTICE OF GENERAL MEETING IN RELATION TO THE PROPOSAL TO DELIST FREEWORLD FROM
THE JSE
1. INTRODUCTION
Freeworld shareholders ("Shareholders") are referred to the joint announcement
by Freeworld and Kansai Paint Co., Ltd. ("Kansai") released on SENS on 17
October 2011 and published in the press on 18 October 2011 ("Joint
Announcement") regarding the proposal that Freeworld delist its ordinary
shares from the exchange operated by the JSE Limited ("Delisting") and a firm
intention by Kansai to acquire all the issued shares of Freeworld not already
owned by Kansai, by way of a scheme of arrangement ("Scheme").
Shareholders are hereby advised that a circular containing details of the
Delisting and the Scheme and incorporating, amongst others, a notice of
general meeting ("Circular") has been posted to Shareholders today and is
available on Freeworld`s website at http://www.freeworldcoatings.com/ and on
Kansai`s website at http://www.kansai.co.jp/global_site/index.html.
Shareholders are advised that the completion of the Delisting and the Scheme,
which are inter-conditional, are subject to the fulfilment or waiver of
certain conditions precedent set out in the Circular, and are advised to
review the Circular for the terms and conditions of the Delisting and the
Scheme.
2. NOTICE OF GENERAL MEETING
As per the Joint Announcement, the general meeting of Shareholders in relation
to the Delisting and the Scheme will be held at the Company`s offices,
Glenfiddich Building, Kildrummy Office Park, Umhlanga Drive, Paulshof,
Johannesburg on Wednesday, 23 November 2011 at 10:00, to consider and, if
deemed fit, to pass the resolutions as set out in the notice of general
meeting, attached to, and forming part of the Circular.
3. IMPORTANT DATES AND TIMES
The important dates and times relating to the Delisting and the Scheme as set
out in the timetable included in the Joint Announcement have not changed.
Paulshof
25 October 2011
Enquiries:
Newman Lowther & Associates
Ben Lowther, +27 (0)21 673 7000
Freeworld
Eleanor Chamberlain, +27 (0)11 549 8009
Financial advisors to Freeworld and Kansai
Newman Lowther & Associates (Pty) Ltd
Attorneys to Freeworld and Kansai
Bowman Gilfillan Inc.
Independent Expert
BDO Corporate Finance (Pty) Ltd
JSE Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 25/10/2011 16:30:29 Produced by the JSE SENS Department.
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