Magnum - Salient Dates For A Proposed Scheme Of Ar
MAGNUM GLOBAL FUNDS SA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/025064/06)
("Magnum SA" or "the company")
Salient dates for a proposed scheme of arrangement
1. INTRODUCTION
It was announced in the press on 10 July 2001 that Magnum Global Investments
Limited ("MGI") intended to propose a scheme of arrangement in terms of
section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended, between
Magnum SA and Magnum SA shareholders (other than MGI and certain legal
entities controlled by MGI (collectively "the MGI Consortium") and certain
founding shareholders of Magnum SA) (collectively, "scheme members") ("the
scheme"), which, if implemented, would result in Magnum SA being wholly-
owned by the MGI Consortium and the company's listing being terminated on
the JSE Securities Exchange South Africa ("the JSE").
2. SALIENT DATES
The salient dates of the scheme are set out below:
2001
August
Last day to trade on the JSE in order to be able
to vote at the meeting of scheme members
("the scheme meeting") on Friday, 17
Last day to lodge forms of proxy for the scheme
meeting by 11h00 on Friday, 24
Last day to register in order to vote at
the scheme meeting by 16h00 on Friday, 24
Scheme meeting to be held at 11h00 on Monday, 27
September
Court hearing to sanction the scheme
held on Tuesday, 11
Scheme unconditional on Tuesday, 11
Last day to trade in order to participate
in the scheme on Friday, 14
Listing of Magnum shares on the JSE suspended
with effect from
the commencement of trading on Monday, 17
Record date for participation in the scheme Friday, 21
Listing of Magnum shares on the JSE terminated
with effect from the commencement of trading on
Tuesday, 25
Operative date of the scheme Tuesday, 25
Notes:
If a form of proxy is not received by the time and date shown above, it may
be handed to the chairperson of the scheme meeting no later than 10 minutes
before the commencement of the scheme meeting.
These dates and times are subject to change. Any change will be published in
the press.
Settlement of the consideration payable in respect of the scheme will be
posted to or deposited into scheme participants' (i.e. scheme members
registered on the record date ) bank accounts within 5 business days of
either the receipt of the relevant documents of title (in respect of scheme
members who have not dematerialised their Magnum SA shares) or relevant
instructions from scheme members' Central Securities Depository Participants
(in respect of scheme members who have dematerialised their Magnum SA
shares) or the operative date of the scheme, whichever is the later.
3. CIRCULAR TO SHAREHOLDERS
A circular to Magnum SA shareholders, containing detailed information
regarding the scheme and incorporating a notice of the scheme meeting, will
be posted to Magnum SA shareholders today.
Johannesburg
02 August 2001
Corporate advisers and sponsor
Attorneys to the scheme
TRANS ATLANTIC SECURITIES (PROPRIETARY) LIMITED
Corporate Finance
(Registration number 1999/000210/07)
WERKSMANS
Independent adviser to scheme members
KPMG Corporate Finance
Attorneys to MGI and the MGI Consortium
KALLMEYER & STRIME
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