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ADR PCN
ADR PCN
ADR/PCN - Adcorp Holdings Limited/Paracon Holdings Limited - Competition
Commission approval
ADCORP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1974/001804/06
Share code ADR
ISIN: ZAE000000139
("Adcorp")
PARACON HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number 1997/008181/06
Share code PCN
ISIN: ZAE000029674
("Paracon")
COMPETITION COMMISSION APPROVAL
Further to the announcements released on SENS on 1 November 2011 by
Adcorp and Paracon regarding their respective results of general
meeting, and results of scheme meeting, Adcorp and Paracon are pleased
to announce that the Competition Commission has unconditionally approved
Adcorp`s acquisition of the entire issued ordinary share capital of
Paracon, excluding those shares held by subsidiaries of Paracon (the
"Proposed Transaction"). Shareholders are referred to the respective
Adcorp and Paracon circulars posted to shareholders dated 30 September
2011 ("Circulars") for full details of the Proposed Transaction. The
only remaining outstanding conditions precedent to the Proposed
Transaction are the receipt of a compliance certificate in respect of
the Proposed Transaction from the Takeover Regulation Panel, which is
expected to be received on or about 15 November 2011 and the non-
occurrence of the material adverse events described in the Circulars in
respect of Adcorp and/or Paracon prior to the Takeover Regulation Panel
issuing the compliance certificate.
A further announcement will be made once the conditions precedent have
been fulfilled.
Johannesburg
4 November 2011
Corporate Adviser and Transaction Sponsor to Adcorp
Investec Corporate Finance
Legal Adviser to Adcorp
Webber Wentzel
Competition Law Adviser to Adcorp
Nortons Incorporated
Sponsor to Adcorp
Deloitte & Touche Sponsor Services (Proprietary) Limited
Corporate Adviser and Sponsor to Paracon
Merchantec Capital
Legal Adviser to Paracon
Werksmans
Date: 04/11/2011 17:00:40 Produced by the JSE SENS Department.
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