PEPKOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1965/007765/06)
Share code: PEP
ISIN code: ZAE000005344
("Pepkor" or "the company")
ODDLOT OFFER
1. Introduction
Pepkor has 221 936 384 shares in issue, 78 909 of which are held by
shareholders who hold less than 300 shares ("oddlot holdings"). The
oddlot holdings represent 0,04% of Pepkor's shares in issue and 39% of
the number of shareholders in the company. The directors of Pepkor
wish to reduce the substantial administration costs associated with
these oddlot holdings and have accordingly resolved to implement an
oddlot offer. The price of the oddlot offer will be the weighted
average traded price of Pepkor shares on the JSE Securities Exchange
South Africa over the 10 trading days ending Monday, 20 May 2002 ("the
offer price") and will be published on SENS on Tuesday, 21 May 2002.
All shareholders who hold less than 300 shares on Friday, 7 June 2002
("the record date") are offered the opportunity to elect:
- to sell their oddlot holdings at the offer price ("the cash
alternative"); or
- to purchase a sufficient number of additional shares at the offer price
in order to increase their holdings to 300 shares ("the purchase
alternative"); or
- to retain their oddlot holdings.
Compulsory sale of shares
The holdings of shareholders holding less than 100 shares on the record
date who do not make an election will be sold either to those oddlot
holders who elect the purchase alternative or to Barnard Jacobs Mellet
Private Client Services (Proprietary) Limited, as the case may be.
Shareholders who hold 100 or more shares but less than 300 shares on the
record date who do not make an election will retain their holdings.
2. Important dates
Record date
Shareholders who are recorded as such in the books of the company at the
close of business on the record date and who hold less than 300 shares
will be entitled to participate in the oddlot offer.
Last day to trade
The last day to trade in order to participate in the oddlot offer will
be Friday, 31 May 2002.
Oddlot offer period
The oddlot offer will open at the commencement of business on Monday, 29
April 2002 and the election period in regard thereto will close at the
close of business on Wednesday, 5 June 2002.
3. Condition precedent
The implementation of the oddlot offer is subject to the special and
ordinary resolutions, set out in the notice of general meeting which
will be attached to and form part of a circular to shareholders as
mentioned in paragraph 5 below, being approved by shareholders and the
registration of the special resolution by the Registrar of Companies.
4. Financial effects
The oddlot offer, the compulsory sale of shares and the issue of any new
shares are not expected to have any material effect on the projected
earnings per share or on the net asset value per share of the company.
5. Circular to shareholders
A circular containing further information relating to the oddlot offer
and a notice convening a general meeting, to be held on Wednesday, 22
May 2002, will be posted to shareholders on or about Monday, 29 April
2002. The results of the general meeting will be published via SENS and
in the press on Thursday, 23 May, 2002.
Cape Town
26 April 2002
Corporate adviser and sponsor
Barnard Jacobs Mellet Corporate Finance
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.
