ABACUS TECHNOLOGY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1991/004163/06)
JSE Share code: ABC ISIN: ZAE000011714
("Abacus" or "the company")
Results of general meeting and
salient dates of the offer to shareholders
1. Introduction
Abacus shareholders are advised that at the general meeting of the
company held on Thursday, 11 April 2002, the requisite majority of
shareholders entitled to vote, approved the resolutions relating to the
specific issue of shares for cash in AAV Australia Proprietary Limited and
the proposed delisting of Abacus from the JSE Securities Exchange South
Africa List ("the delisting").
2. The offer
Accordingly, Investec Bank Limited ("Investec") offers to purchase from
all Abacus shareholders, other than Investec, in accordance with the
timetable below, all or a lesser number of Abacus shares as such Abacus
shareholders wish to sell, at a price of 10 cents per Abacus share ("the
offer").
Abacus shareholders holding dematerialised Abacus shares who wish to
accept the offer (either in whole or in part) must advise their Central
Securities Depository Participant ("CSDP") or broker in this regard by the
stipulated cut-off time for the receipt of such instructions. Abacus
shareholders should confirm the cut-off time with their CSDP or broker. This
must be effected in terms of the agreement entered into between them and
their CSDP or broker.
Abacus shareholders holding certificated Abacus shares who wish to accept
the offer (either in whole or in part) may contact their broker or Jaquie
Kariem at Investec Securities Limited on (011) 286-6262 or at 3rd Floor, 100
Grayston Drive, Sandown, Sandton.
Dematerialised shareholders who do not accept the offer and will
accordingly remain as shareholders in the unlisted entity will need to
rematerialise their shareholding and should contact their CSDP in that
regard. The costs thereof will be borne by Abacus. Certificated shareholders
who do not accept the offer need take no further action.
3. Salient dates
The salient dates for the offer and the delisting are set out in the
table below:
2002
Offer opens on Friday, 19 April
Last day for which documents of title may be lodged for
purposes of dematerialising Monday, 29 April
Last day to trade in order to accept the offer Tuesday, 7 May
Suspension of listing from commencement of trade on Wednesday, 8 May
Offer closes and record date for the offer Tuesday, 14 May
Results of the offer published on Wednesday, 15 May
Termination of listing from commencement of trade on Wednesday, 15 May
Abacus issues share certificates in the unlisted company
to dematerialised shareholders who did not accept
the offer on Wednesday, 15 May
Johannesburg
12 April 2002
Merchant bank
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Corporate adviser
Global Capital (Pty) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/022057/07)
Lead sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Reporting accountants and independent adviser
JH Smilg & Company
Joint sponsor
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
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.
