Results Of The Offer By Saambou To Thuthukani Mino
THUTHUKANI GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/001699/06)
("Thuthukani")
Share code: THK
ISIN code: ZAE 000017596
SAAMBOU HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004170/06)
("Saambou")
Share code: SBO
ISIN code: ZAE 000006409
- RESULTS OF THE OFFER BY SAAMBOU TO THUTHUKANI MINORITY SHAREHOLDERS
- SUSPENSION OF THUTHUKANI SHARES
- PROPOSED DE-LISTING OF THUTHUKANI SHARES
The unconditional offer by Saambou to minority shareholders to acquire
their shares in exchange for a cash consideration of 66,5 cents per share
("offer") has been accepted by shareholders in Thuthukani who hold 96,4% of
those shares not previously held by Saambou. As a result, in terms of
Section 440K of the Companies Act, 1973 (Act 61 of 1973), as amended ("the
Act"), Saambou intends the compulsorily acquisition of those Thuthukani
shares of which the holders have not accepted the offer ("the remaining
shares").
Subsequent to the offer, Saambou now holds 98,2% of the issued share
capital of Thuthukani.
The listing of Thuthukani shares under the Financial - "Financial
Services" sector of the JSE Securities Exchange South Africa ("JSE") lists
will be suspended with effect from the commencement of business on 22 August
2001. It may subsequently be terminated on the expiry of the six-week period
for the compulsory acquisition of the remaining shares. The listing will be
terminated with effect from commencement of business on 3 October 2001 or
such other date as advised by the JSE. During the abovementioned six-week
period shareholders who have not accepted the offer will have the right to
make an application to the High Court of South Africa for an order as
contemplated under section 440K (1)(a) of the Act.
Shareholders who have not surrendered their documents of title, must
complete the form of surrender attached to the circular dated 9 July 2001,
and return it as soon as possible, together with the relevant documents of
title, to Computershare Services Limited, 2nd Floor, Edura, 41 Fox Street,
Johannesburg, 2000 (PO Box 61051, Marshalltown, 2107). A reminder surrender
circular will also be mailed today to shareholders that have not yet
surrendered their documents of title.
Pretoria
22 August 2001
Corporate adviser and sponsor to Saambou
ABN-AMRO Securities (South Africa) (Pty) Ltd.
Registration number 1995/001231/07
Member of the JSE Securities Exchange South Africa
Adviser to Thuthukani Minority Shareholders
Bridge Capital Services (Pty) Limited
(Registration number 1998/016301/07)
(A sponsor registered with the
JSE Securities Exchange South Africa)
Sponsor to Thuthukani
ABN-AMRO Securities (South Africa) (Pty) Ltd.
Registration number 1995/001231/07
Member of the JSE Securities Exchange South Africa
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.
