| Wed 23 Nov 2011, 16:24 | | FWD - Freeworld Coatings Limited - Joint announcement by Freeworld and |
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FWD
FWD
FWD - Freeworld Coatings Limited - Joint announcement by Freeworld and
Kansai in relation to Results of General Meeting
Freeworld Coatings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/021624/06)
Share code: FWD
ISIN: ZAE000109450
("Freeworld" or "the Company")
Kansai Paint Co., Ltd.
(Incorporated in Japan)
(Registration number 1402-01-001093)
TSE share code: 4613
("Kansai")
JOINT ANNOUNCEMENT BY FREEWORLD AND KANSAI IN RELATION TO RESULTS OF
GENERAL MEETING
1. INTRODUCTION
Freeworld shareholders ("Shareholders") are referred to the joint
announcement by Freeworld and Kansai released on SENS on 17 October 2011
and published in the press on 18 October 2011 regarding the proposal that
Freeworld delist its ordinary shares ("Freeworld 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,
save for the Freeworld Shares in respect of which a Retained Investment
Election has been made, by way of a scheme of arrangement ("Scheme").
Definitions found on pages 8 to 12 of the circular relating to the
Delisting and the Scheme ("Circular"), posted to Shareholders on 25 October
2011, have been used in this announcement. Copies of the Circular can be
found at http://www.freeworldcoatings.com/ and
http://ww.kansai.co.jp/global_site/index.html.
2. RESULTS OF THE GENERAL MEETING
At the general meeting of the Shareholders held on Wednesday, 23 November
2011, all of the special and ordinary resolutions authorising the Scheme
and the Delisting, being (i) the special resolution in terms of section
115(2)(a) of the Companies Act, 2008 authorising the implementation of the
Scheme and (ii) the ordinary resolution in terms of paragraph 1.14(a) of
the JSE Limited Listings Requirements authorising the Delisting, were
approved by the requisite majority of Shareholders.
3. IMPORTANT DATES AND TIMES
The important dates and times relating to the Delisting and the Scheme as
set out in the Circular have not changed.
Paulshof
23 November 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.
JSE Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 23/11/2011 16:24:00 Produced by the JSE SENS Department.
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