| Wed 11 Apr 2012, 17:41 | | BEG/BEGP2 - Beige Holdings Limited - Hearing before the takeover Special |
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BEG BEGP2
BEG
BEG/BEGP2 - Beige Holdings Limited - Hearing before the takeover Special
Committee
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
HEARING BEFORE THE TAKEOVER SPECIAL COMMITTEE
Shareholders are referred to the SENS announcement, dated 23 March 2012,
advising that The Lion Match Company (Pty) Ltd ("Lion Match") has exercised
its right to apply to the Takeover Special Committee ("TSC") for a hearing
regarding the ruling by the Executive Director of the Takeover Regulation
Panel ("TRP") to the effect that the offer made by Lion Match to the
preference shareholders of Beige ("the preference share offer") is not a
"comparable offer" as contemplated in terms of the Companies Act, No. 71 of
2008 (as amended) and that in order to be comparable, the offer price for the
preference shares must be no less than the see through value of the ordinary
shares.
The TRP has confirmed that the TSC hearing has been arranged for Thursday, 25
April 2012, commencing at 10:00 at the offices of the TRP, Sunnyside Office
Park, 1st Floor Building B, 32 Princess of Wales Terrace, Parktown,
Johannesburg.
Shareholders are advised that Lion Match has requested a postponement of the
date of the hearing due to the number of public holidays during April.
Shareholders will be advised of any date changes by way of a further SENS
announcement.
Shareholders are advised that that they are entitled to attend the hearing
and to make representations to the TSC in respect of the preference share
offer. Any shareholder wishing to make such representation should note the
following process:
* 4 (four) paginated copies of the shareholder`s submission are to be
delivered to the offices of the TRP (Sunnyside Office Park, 1st
Floor Building B, 32 Princess of Wales Terrace, Parktown,
Johannesburg), marked for the attention of the chairman of the
hearing, Mr N Matlala, by 13 April 2012;
* Any shareholder making a submission is to ensure that a copy of the
submission is simultaneously delivered to Lion Match and Beige at
the addresses set out below:
The Lion Match Company (Pty) Beige Holdings Limited
Ltd c/o Arcay Moela Sponsors
c/o Webber Wentzel Attorneys Arcay House II
10 Fricker Road Number 3 Anerley Road
Illovo Boulevard Parktown
Johannesburg Johannesburg
Johannesburg
11 April 2012
Designated Advisor
Arcay Moela Sponsors (Pty) Ltd
Date: 11/04/2012 17:41:01 Produced by the JSE SENS Department.
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