| Fri 15 Mar 2002, 0:00 | | Imperial / ImperiLog - Offer by Imperial to minori |
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Imperilog:
Further extension of the closing date of the offer
Imperial Holdings Limited ImperiLog Limited
(Registration number 1946/021048/06) (Registration number 1913/001284/06)
("Imperial") ("ImperiLog")
Share Code: IPL Share Code: IPG
ISIN Code: ZAE000003620 ISIN Code: ZAE000024006
Offer by Imperial to minority shareholders of Imperilog:
Further extension of the closing date of the offer
In terms of an announcement published on 24 December 2001, it was announced
that Imperial would extend a conditional offer to the shareholders of
ImperiLog to acquire all their shares in ImperiLog ("the offer shares") for
cash. The offer is subject to the condition precedent that Competition
Commission approval is obtained and Imperilog shareholders are advised that
an announcement will be made once the offer becomes unconditional. An
announcement setting out the salient dates of the offer was published on 31
January 2002 and an extension of the closing date of the offer was published
on 1 March 2002.
As Competition Commission approval remains outstanding, it has been decided
to again extend the closing date of the offer from Friday, 5 April 2002 to
Thursday, 2 May 2002. The right to bring forward the closing date of the
offer, depending upon when Competition Commission approval is obtained, is
expressly reserved. Any amendment to these dates will be published at the
time of announcing the unconditionality of the offer or otherwise.
Accordingly, salient dates of the offer as announced in the press on 1 March
2002, have changed as follows:
Salient dates 2002
Offer opens (09h00) Thursday, 31 January
*Last day to trade Wednesday, 24 April
Shares listed ex offer on the JSE Securities Thursday, 25 April
Exchange South Africa ("the JSE")
Record date Thursday, 2 May
Offer closes (15h00) Thursday, 2 May
Results of the offer announced in the press Monday, 6 May
(on SENS 3 May 2002)
Imperial reserves the right to invoke the
provisions of section 440K of the Companies
Act 1973 as amended ("the Act") if 90% or
more acceptances are received in respect of
the offer shares in which case:
Listing of ImperiLog shares will be suspended Monday, 6 May
on the JSE from the commencement of business
on
Notice in terms of section 440K of the Act, Monday, 6 May
will be posted to ImperiLog shareholders who
have not accepted the offer on
Listing of ImperiLog terminated on the JSE Friday, 21 June
subject to no application being made to
Court, at the close of business on
*assuming that the offer has been declared unconditional by Tuesday, 16
April 2002. Share certificates may not be de-materialised and re-
materialised between Thursday, 18 April 2002 and Thursday, 2 May 2002 (both
dates inclusive).
The ImperiLog documents of title surrendered by those ImperiLog shareholders
who have already accepted the offer are being held in trust by ImperiLog's
transfer secretaries, Mercantile Registrars Limited until the conditions
precedent have been met. Imperilog shareholders may continue to surrender
any documents of title during the period of the extension, in accordance
with the procedure set out in the offer document dated 31 January 2002.
Edenvale
15 March 2002
Sponsor to Imperial Independent adviser to ImperiLog shareholders
Merrill Lynch BDO Spencer Steward (Jhb) Inc.
Financial Adviser to Imperial Sponsor to ImperiLog
Imperial Bank Nedcor Investment Bank
Attorneys to Imperial and ImperiLog
Moss Morris Attorneys Inc.
