| Thu 22 Mar 2012, 17:40 | | MTL - Mercantile Bank Holdings Limited - Posting of circular and Notice of |
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MTL
MTL
MTL - Mercantile Bank Holdings Limited - Posting of circular and Notice of
General Meeting
Mercantile Bank Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/000164/06)
Share code: MTL ISIN: ZAE000064721
("Mercantile" or "the Company" or "the Group")
POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING
Further to the announcements dated 15 February 2012 and 23 February 2012
regarding the proposed scheme of arrangement and subsequent delisting of
Mercantile, whereby the Board of Directors of Mercantile resolved to make an
offer of 52 cents per share to minority shareholders to acquire all of their
Mercantile ordinary shares and to acquire the option rights from the Mercantile
share scheme option holders, Mercantile ordinary shareholders are advised that
the circular referred to therein has been posted to Mercantile ordinary
shareholders today and will be available on the Mercantile website at
http://www.mercantile.co.za.
Notice is hereby given that the general meeting of Mercantile regarding the
approval of the proposed scheme of arrangement and delisting is to be held at
the registered office of Mercantile at the Boardroom, First Floor, Mercantile
Bank, 142 West Street, Sandown at 15:00 on Monday, 23 April 2012 for the
Mercantile Ordinary Shareholders to consider and, if deemed fit, approve the
scheme of arrangement and proposed delisting of Mercantile.
The salient dates and times relating to the scheme of arrangement are as
follows:
Last day to trade Mercantile Ordinary Shares Wednesday, 4 April 2012
in order to be recorded in the Register on the
Scheme Voting Record Date on
Scheme Voting Record Date being 17h00 on Friday, 13 April 2012
Last day to lodge forms of proxy in respect of Thursday, 19 April 2012
the General Meeting, by 15h00 on
Last date and time for Mercantile Ordinary Monday, 23 April 2012
Shareholders to give notice to Mercantile
objecting to the respective special
resolutions approving the Scheme by 10h00 on
General Meeting of Mercantile Ordinary Monday, 23 April 2012
Shareholders to be held at 15h00 on
Finalisation Date expected to be on Friday, 4 May 2012
Finalisation Date announcement expected to be Friday, 4 May 2012
published on SENS on
Finalisation Date announcement expected to be Monday, 7 May 2012
published in the South African press on
Expected last day to trade Mercantile Ordinary Friday, 11 May 2012
Shares on the JSE in order to be recorded in
the Register to receive the Scheme
Consideration on
Suspension of listing of Mercantile Ordinary Monday, 14 May 2012
Shares at the commencement of trade on the JSE
expected to be on
Last date for Mercantile to send objecting Tuesday, 15 May 2012
Mercantile Ordinary Shareholders notices of
the adoption of the respective special
resolutions approving the Scheme on
Scheme Consideration Record Date to be Friday, 18 May 2012
recorded in the Register in order to receive
the Scheme Consideration, expected to be on or
about
Expected Scheme Operative Date on Monday, 21 May 2012
Payment of the Scheme Consideration expected Monday, 21 May 2012
to be transferred electronically or posted to
certificated Scheme Participants (if form of
surrender and transfer and Documents of Title
are received by the Transfer Secretaries on or
before 12h00 on the Scheme Consideration
Record Date), on or about
Expected termination of listing of Mercantile Tuesday, 22 May 2012
Ordinary Shares on the JSE at the commencement
of trade on or about
Johannesburg
22 March 2012
Sponsor and Transaction Advisor: Bridge Capital Advisors (Pty) Limited
Reporting Accountant and Auditor: Deloitte & Touche
Legal Advisor: Eversheds
Independent expert: Rand Merchant Bank a division of Firstrand Bank Limited
Date: 22/03/2012 17:40:01 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.
