I-fusion / Bidvest - Results Of The Scheme Meeting
I-Fusion Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/013542/06)
Share code: IFS ISIN: ZAE000026241
("RESULTS OF THE SCHEME MEETING
("I-Fusion")
The Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
Share code: BVT ISIN: ZAE000008132
("Bidvest")
RESULTS OF THE SCHEME MEETING
Further to the announcement dated October 5 2001, Investec Bank Limited is
authorised to announce that the scheme of arrangement ("the scheme"),
proposed by Bidvest between I-Fusion and its shareholders, other than
Bidvest, was approved by 99,997% of the scheme shares, the holders of which
were present or represented at the scheme meeting held on Monday, October 22
2001.
Application will be made to the High Court of South Africa (Transvaal
Provincial Division), High Court Building, Vermeulen Street, Pretoria, 0002
("the Court") to sanction the scheme on Tuesday, October 30 2001 at 10:00
or as soon thereafter as Counsel may be heard at the High Court Building. If
the scheme is sanctioned by the Court, the only remaining condition
precedent to which the scheme will remain subject, will be the registration
of the Order of Court sanctioning the scheme by the Registrar of Companies.
A further announcement regarding the outcome of the application to the Court
and details of the surrender procedure required for existing I-Fusion
documents of title will be published on or about Wednesday, October 31
2001.
Johannesburg
October 26 2001
Merchant bank
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Lead sponsor to Bidvest and sponsor to I-Fusion
Investec Securities Limited
Member of the JSE
Registration No. 1972/008905/06
Attorneys to the transaction
Werksmans Attorneys
Co-sponsor to Bidvest
Merrill Lynch South Africa (Pty) Ltd
Registered sponsor and
Member of the JSE Securities Exchange South Africa
Registration number 1995/001805/07
Independent adviser to scheme participants
Barnard Jacobs Mellet Corporate Finance
Reporting accountants and auditors to I-Fusion
KPMG
Registered Chartered Accountants (SA)
(Registration number 1999/021543/21)
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