| Fri 9 Mar 2012, 16:35 | | JDH - John Daniel Holdings Limited - Lazaron general offer results |
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JDH
JDH
JDH - John Daniel Holdings Limited - Lazaron general offer results
announcement and notice in terms of Section 124 of the Companies Act, 2008
JOHN DANIEL HOLDINGS LIMITED LAZARON BIOTECHNOLOGIES (SA)
(Incorporated in the Republic of South LIMITED
Africa) (Incorporated in the Republic of
(Registration Number 1998/013215/06) South Africa)
Share code: JDH (Registration Number
ISIN: ZAE 000136677 2004/004630/06)
("JDH") (Lazaron")
LAZARON GENERAL OFFER RESULTS ANNOUNCEMENT AND NOTICE IN TERMS OF SECTION 124
OF THE COMPANIES ACT, 2008 (NO. 71 OF 2008) ("the Act")
The board of directors of Lazaron advise shareholders that the general offer,
as was detailed in a circular to Lazaron shareholders dated 7 November 2011,
which offer was to swap into listed JDH shares on the basis of 1 JDH share
for every 5 Lazaron shares held, closed on 9 March 2012.
A total of 187 878 066 Lazaron shares (representing 91% of the Lazaron issued
share capital) accepted the JDH general offer with an issue of 37 575 613 JDH
shares at the 5:1 ratio. JDH`s stake in Lazaron increased from 44.18% to
94.96%.
The circular to Lazaron shareholders, which included the terms of the general
offer, made provision for the implementation of section 124 of the Act which
section provides for the offeror to acquire the remaining minority shares in
the event that the offeror (being JDH) achieved a minimum 90% acceptance
level, by minority shareholders.
JDH is pleased to confirm that the required 90% uptake by Lazaron
shareholders of the general offer was exceeded within the four month period
as stipulated in section 124(1) of the Act and accordingly elect to
expropriate the remaining 9% Lazaron minority shareholders by offering those
minority shareholders an equivalent offer as per the general offer, i.e. 1
JDH share for every 5 Lazaron shares held.
Once section 124 has been successfully invoked, Lazaron will become a wholly-
owned subsidiary of JDH.
In due course, JDH will formally notify the remaining Lazaron shareholders in
the prescribed manner and form that:
The offer has been accepted and to what extent; and
JDH desires to acquire all the remaining securities on the same basis as the
general offer.
Should any Lazaron minority shareholders have any queries regarding this,
please contact the financial director or company secretary of the Company at
087 808 0200.
Johannesburg
9 March 2012
Sponsor
Arcay Moela Sponsor (Pty) Ltd
Date: 09/03/2012 16:35:01 Produced by the JSE SENS Department.
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