Imperial's Offer To The Minority Shareholders Of I
unconditional
Imperial Holdings Limited
(Registration number 1946/021048/06)
("Imperial")
ISIN Code: IPL
Share Code: ZAE000003620
ImperiLog Limited
(Registration number 1913/001284/06)
("ImperiLog")
ISIN Code: IPG
Share Code: ZAE000024006
Introduction
Shareholders are referred to the announcement made on Monday, 24 December
2001, in which it was stated that the board of directors of Imperial had
resolved that Imperial would make an offer to the ordinary shareholders of
ImperiLog ("the offeree") other than Imperial to acquire their ordinary
shares in ImperiLog, subject to the fulfilment of certain conditions
precedent. Several announcements extending the offer have been made, as
approval from the Competition authoritiesauthorities remained outstanding.
Shareholders are advised that the remaining condition precedent has been
fulfilled in that the approval of the Competition authorities Competition
authorities havewas obtained yesterday without condition, approved the offer
without condition.
The offer
The offer has therefore become unconditional and shareholders are referred
to the announcement published in the press on 22 April 2002 setting out the
salient dates of the offer. The Securities Regulation Panel and the JSE
Securities Exchange South Africa have agreed that those dates remain
effective. Shareholders who have not yet accepted the offer are reminded
that upon valid acceptances of the offer being received by the transfer
secretaries, payment will be made by cheque or electronic transfer of
amounts due to them within seven days of the receipt by the transfer
secretaries of the properly completed form of acceptance, together with the
relevant documents of title in the case of certificated shareholders.
Dematerialised shareholders should contact their CSDPs and instruct themhim
not to wait until the week of the record date before accepting the offer,
but to instead to accept the offer on their behalf immediately.
An announcement setting out the number of acceptances received in respect of
the offer will be published on or about 17 May 2002.
Edenvale
25 April 2002
Sponsor to Imperial Independent adviser to ImperiLog shareholders
Merrill Lynch BDO Spencer Steward (Jhb) Inc.
Financial Adviser to Imperial Investment bank and sponsor to ImperiLog
Imperial Bank Nedcor Investment Bank
Attorneys to Imperial and ImperiLog
Moss Morris Attorneys Inc.
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