Paragon / Bidvest Group: Results Of The Scheme Mee
Paragon Business Communications Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/007711/06)
Share code PAG ISIN ZAE000022422
("Paragon" or "the company")
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 Friday, February 15 2002, Investec Bank
Limited is authorised to announce that the scheme of arrangement ("the
scheme"), proposed by Bidvest between Paragon and its shareholders, has been
approved by the requisite majority of scheme members at the scheme meeting
held on Monday, March 4 2002.
Application will be made to the High Court of South Africa (Cape of Good
Hope Provincial Division), Keerom Street, Cape Town, 8001 ("the Court") to
sanction the scheme on Wednesday, March 13 2002 at 10:00 or as soon
thereafter as Counsel may be heard. 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 Paragon
documents of title will be published on or about Thursday, March 14 2002.
Cape Town
March 5 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)
Co-sponsor
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Proprietary) Limited
(Registration number 1995/011798/07)
Sponsor to Paragon and independent adviser to Paragon shareholders
PSG Investment Bank
Attorneys to the transaction
Bowman Gilfillan Inc.
Registration number 1998/021409/21
Reporting accountants and auditors to Paragon
Deloitte & Touche
Chartered Accountants
Registered Accountants and Auditors
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
