BEG/BEGP2 - Beige Holdings Limited - Request for a ruling on the comparable
BEG BEGP2
BEG
BEG/BEGP2 - Beige Holdings Limited - Request for a ruling on the comparable
offer submitted to the takeover regulation panel ("TRP") and cautionary
announcement in respect of the preference shares
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
("Beige" or "the Company")
ISIN Code: ZAE000034161 Share code: BEG
ISIN Code: ZAE000154787 Share code: BEGP2
REQUEST FOR A RULING ON THE COMPARABLE OFFER SUBMITTED TO THE TAKEOVER
REGULATION PANEL ("TRP") AND CAUTIONARY ANNOUNCEMENT IN RESPECT OF THE
PREFERENCE SHARES
Shareholders are referred to the announcements dated 30 December 2011 and 27
January 2012 relating to the mandatory offer to be made to Beige shareholders
following the acquisition by The Lion Match Company (Pty) Ltd ("Lion Match")
of 36.45% of the voting rights (excluding ordinary treasury shares) in Beige.
In order to address Beige`s concerns as to whether the R1.28 offer
consideration to be offered to preference shareholders constitutes a
comparable offer as is required in terms of section 125 of the Companies Act,
No. 71 of 2008 (the "Act") and Regulation 87 of the regulations promulgated
in terms of the Act (the "Regulations"), the Board of Beige has requested the
TRP to provide the company with a ruling as to how the comparable offer to
shareholders should be calculated.
In the interests of natural justice and in compliance with the provisions of
the Promotion of Administrative Justice Act, No. 3 of 2000, the TRP has
requested Lion Match to furnish it with its response to Beige`s request by 29
February 2012.
Shareholders will be advised as to the outcome of the ruling by way of a SENS
announcement. In the interim, preference shareholders are advised to
exercise caution when dealing in the company`s preference securities.
Johannesburg
20 February 2012
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 20/02/2012 10:33:00 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
