Metropolitan: Notice In Terms Of The Long-term Ins
Metropolitan Life Limited
(Registration No. 1949/032491/06)
("Metropolitan")
NOTICE IN TERMS OF SECTION 38(1)(a)(ii)
OF THE LONG-TERM INSURANCE ACT No 52 OF 1988
SCHEME OF ARRANGEMENT TO WHICH METROPOLITAN IS A PARTY
Notice is hereby given in terms of Section 38(1)(a)(ii) of the Long-term
Insurance Act, No 52 of 1988 (hereinafter referred to as "the Act"), that it
is the intention of New Africa Capital Limited (Registration Number
2000/013756/06) ("the Proposer") to propose a scheme of arrangement between
Metropolitan (a Long-term Insurer in terms of Section 1 of the Act) and its
ordinary shareholders.
Details of the proposed scheme of arrangement are contained in a circular
to be distributed to shareholders on 14 August 2001. A copy of the circular
will be available for inspection during normal business hours for a period
of at least 15 days commencing on Tuesday, 14 August 2001 at the registered
offices of the Proposer and Metropolitan at 7 Parc du Cap, Mispel Road,
Bellville, 7530.
In terms of Section 38(1)(b) of the Act, any person who has an interest in
this matter may, within 15 days of the publication of this notice, submit to
the Registrar of Long-term Insurance ("the Registrar") such representations
concerning the transaction as are relevant to his or her interests.
On 8 August 2001 the High Court of South Africa (Cape of Good Hope
Provincial Division) ("the Court") granted the Proposer leave to convene the
scheme meeting on Thursday, 6 September 2001.
The Proposer intends to apply to the Court for sanctioning of the scheme
on Tuesday, 18 September 2001 at 10:00, or as soon thereafter as the
application may be heard.
The Registrar and any owner of a policy, shareholder or creditor affected
by the proposed scheme shall be entitled to appear and to be heard at the
aforesaid application and may make application to the said Court on any
matter in connection with the scheme.
Bellville
10 August 2001
Attorneys to Metropolitan
Deneys Reitz Attorneys Inc.
Reg no. 1984/003385/21
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
