Altron/powertech - Further Cautionary Announcement
Allied Electronics Corporation Power Technologies Limited
Limited (Incorporated in the Republic of
(Incorporated in the Republic of South Africa)
South Africa) (Registration number 1946/022346/06)
(Registration number 1947/024583/06) Share code: POW
Share code ATN ISIN code: ZAE000015640
ISIN code ZAE000029658 ("Powertech")
("Altron")
Further Cautionary Announcement
Further to the Altron and Powertech cautionary announcements published on
31 January 2002, Altron and Powertech shareholders are advised that the
directors of Altron have resolved to propose a scheme of arrangement ("the
scheme") in terms of Section 311 of the Companies Act, No 61 of 1973, as
amended, between Powertech and its shareholders other than Altron. In terms
of the scheme, Powertech shareholders other than Altron will receive a cash
consideration for each share held in Powertech. The scheme, if implemented,
will result in Powertech becoming a wholly-owned subsidiary of Altron.
A full announcement of the terms of the scheme is expected to be released
simultaneously with the Powertech annual results, scheduled for early May
2002. Accordingly, shareholders are advised to continue to exercise caution
when dealing in Altron and Powertech securities.
Johannesburg
6 March 2001
Investment bank to Merchant bank and
Altron independent financial
adviser to Powertech
Nedcor Investment Bank Standard Corporate and
Limited Merchant Bank
a division of The
Standard Bank of South
Africa Limited
Corporate law advisers Joint sponsors to Altron and Powertech
and consultants
ENF Sponsors
Edward Nathan & Nedcor Investment Bank (Proprietary) Limited
Friedland (Proprietary) Limited
Limited
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