Clyde - Change Of Terms Of The Offer To Minorities
SALIENT DATES OF GENERAL MEETING AND OFFER BY THE WILSON FAMILY TRUST TO THE
MINORITY SHAREHOLDERS OF CLYDE
Clyde Industrial Corporation Ltd
(Registration number 1919/005977/06)
("Clyde")
Share Code: CLY
ISIN Code: ZAE 000001525
CHANGE OF TERMS OF THE OFFER TO MINORITIES
SALIENT DATES OF GENERAL MEETING AND OFFER BY THE WILSON FAMILY TRUST TO THE
MINORITY SHAREHOLDERS OF CLYDE
Further to the press announcement on 17 August 2001 regarding the proposed
delisting ("the delisting") of Clyde and the cash offer to minority
shareholders of Clyde at 75 cents per share for all or part of their
shareholding ("the offer"), Clyde shareholders are hereby advised that the
offer is not conditional upon the delisting being approved in general
meeting anymore. The salient dates of the general meeting and the offer are
as follows:
2001
Offer opens at 09:00 on Friday 31 August
Last day to trade to be in register by record date in 6 September
order to vote at general meeting
Record date for general meeting on Thursday 13 September
Last day for lodging forms of proxy for the general
meeting of ordinary shareholders by 11:00 on Friday 14 September
General meeting of ordinary shareholders at 11:00 on
Tuesday to consider and vote on the delisting of Clyde 18 September
Results of general meeting published on Wednesday 19 September
Last day to trade to participate in the offer on 20 September
Thursday
Shares on the JSE Securities Exchange South Africa 21 September
("JSE") suspended from commencement of business on
Friday
Offer closes at 16:00 on Friday 28 September
Delisting of Clyde shares on the JSE subject to
shareholder and JSE approval from commencement of 1 October
business on Monday
Results of offer published on or about Monday 1 October
Conditions The delisting is subject to fulfillment of the following
precedent: conditions precedent:
a 50% majority of votes of all Clyde shareholders,
excluding controlling shareholders, their associates or
any party acting in concert with them, if any, being cast
in favour of the delisting resolution in general meeting;
and
the JSE granting such approvals as are necessary to
finally effect the delisting.
Note:
Cheques in respect of the cash consideration will be posted to shareholders
who accept the offer, or deposited directly into the shareholder's bank
account, at the risk of the shareholder concerned, within five (5) business
days of receipt of the properly completed form of acceptance and surrender
and the valid documents of title, in respect of certificated shareholders.
In respect of dematerialized shareholders, the CSDP's custody accounts will
be credited.
These dates and times are subject to amendment. Any such amendment will be
published in the press.
The notice of the general meeting and the offer document will be mailed
today to Clyde shareholders.
Springs
31 August 2001
Sponsor Auditor
Deloitte & Touche Sponsor Services Campbell Bode Brown
(Pty) Ltd Registered Accountants and Auditors
(Registration number
1996/000034/07)
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