Voltex Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/006220/06)
JSE Share code: VLX ISIN: ZAE000015616
("Voltex" or "the company")
The Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
JSE Share code: BVT ISIN: ZAE000008132
("Bidvest")
RESULTS OF THE SCHEME MEETING
Further to the announcement dated January 25 2002, Investec Bank Limited
is authorised to announce that the scheme of arrangement ("the scheme"),
proposed by Bidvest between Voltex and its shareholders, other than Bidvest,
has been approved by the requisite majority of scheme members at the scheme
meeting held on Tuesday, February 19 2002.
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, March 19 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 to which the scheme will
remain subject will be the approval in terms of the Competion Act, if not
obtained prior to the date that the High Court sanctions the scheme, and 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 Voltex
documents of title will be published on or about Friday, March 22 2002.
Johannesburg
21 February 2002
Merchant bank
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Lead sponsor to Bidvest
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
Attorneys to the scheme
Werksmans Incorporated
(Registration number 1990/007215/21)
Co-sponsor to Bidvest
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Proprietary) Limited
(Registration number 1995/011798/07)
Sponsor to Voltex and independent adviser to minorities
Sasfin Bank Limited
(Registration number 1951/002280/06)
Reporting accountants and auditors to Voltex
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
