RESULTS OF SCHEME MEETING
Further to the announcement dated 14 December 2001, Investec Bank Limited
is authorised to announce that the scheme of arrangement in terms of section
311 of the Companies Act, 1973 (Act 61 of 1973), as amended ("the scheme"),
proposed by Charton between Batepro and its shareholders, other than
Charton, was approved by the requisite majority of scheme members present or
represented at the scheme meeting held on Monday, 7 January 2002.
Application will be made to the High Court of South Africa (Transvaal
Provincial Division) ("the Court") to sanction the scheme on Tuesday, 15
January 2002 at 10:00 or as soon thereafter as Counsel may be heard. If the
scheme is sanctioned by the Court, the only remaining conditions precedent
("the remaining conditions") to which the scheme will be subject, will be
the approval of the scheme by the South African Competition Authorities and
the registration of the Order of Court sanctioning the scheme by the
Registrar of Companies.
Batepro shareholders are advised that, due to the expected timing of
receipt of the approval of the scheme from the South African Competition
Authorities, the salient dates and times of the scheme, including the record
date and the operative date relating thereto, as published in the press on
Friday, 14 December 2001 and included in the circular to Batepro
shareholders dated 14 December 2001, will be amended.
A further announcement, including the revised salient dates and times of
the scheme, will be made on the fulfilment of the remaining conditions or,
alternatively, on the non-fulfilment of any of the remaining conditions.
Johannesburg
9 January 2002
Merchant bank to the scheme and Charton
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to Batepro
Investec Bank Limited
(Registration number 1969/004763/06)
Attorneys to Batepro
Werksmans Incorporated
(Registration number 1990/007215/21)
Attorneys to Charton
Jowell, Glyn & Marais Inc
(Registration number 1990/000849/21)
Independent adviser to scheme participants
KPMG
Reporting accountants and auditors to Batepro
KPMG
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
