Of The Companies Act (Act 61 Of 1973), As Amended ("The Act") And Revised
Salient Dates
MUSTEK LIMITED RECTRON HOLDINGS LIMITED
(Incorporated in the Republic (Incorporated in the Republic
of South Africa) of South Africa)
(Registration number (Registration number
1987/070161/06) 1998/015355/06)
("Mustek") ("Rectron")
Share Code: MST Share Code: RCT
ISIN: ZAE 000012373 ISIN: ZAE 000016622
NOTICE IN TERMS OF SECTION 440K OF THE COMPANIES ACT (ACT 61 OF
1973), AS AMENDED ("THE ACT") AND REVISED SALIENT DATES
Rectron shareholders are referred to the circular dated 19 April 2002 and to
the announcement published in the press on Monday, 22 April 2002 relating to
the offer by Mustek to the ordinary shareholders of Rectron other than the
key Rectron executives ("offer shareholders") to acquire all the ordinary
shares in Rectron not presently owned by Mustek and the key Rectron
executives ("the offer shares") for a cash consideration of 80 cents per
share ("the offer").
At the close of business on Friday, 3 May 2002, Mustek had received
acceptances of the offer from offer shareholders, holding in excess of nine-
tenths, of the offer shares. As a result, the offer is now unconditional.
In terms of section 440K(1)(a) of the Act, Mustek is giving notice to those
offer shareholders who have not accepted the offer by the closing date,
("the remaining shareholders") to compulsorily acquire the remaining offer
shares from the remaining shareholders.
A notice in terms of section 440K of the Act will be posted to the remaining
shareholders on Friday, 3 May 2002.
Shareholders who have not accepted the offer are reminded that 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 relevant documents of title in the case of
certificated shareholders. Dematerialised shareholders should contact their
CSDPs and instruct them not to wait until the week of the record date before
accepting the offer, but instead to accept the offer on their behalf
immediately.
The revised salient dates of the offer are as follows:
2002
Last day to trade on Friday, 3 May
Offer declared unconditional, notice given in Friday, 3 May
terms of Section 440K (1)(a) of the Act, close of
business on
Suspension of Rectron shares on the JSE Securities Monday, 6 May
Exchange South Africa ("JSE") at the commencement
of business on
Record date on Friday, 10 May
Offer closes at 14h30 on Tuesday, 14May
Compulsory acquistion of remaining Rectron shares Friday 14 June
becomes effective on
Termination of Rectron's listing on the JSE at the Friday, 14 June
commencement of business on
Midrand
3 May 2002
Sponsor to Mustek and Legal advisor to Legal advisors to the
transactional sponsor Mustek transaction
to Rectron
Exchange Sponsors Kramer & Viljoen Fluxman Rabinowitz
Raphaely Weiner
Joint corporate advisors to Mustek Independent advisors to
Rectron
Corporate Solutions Merchantec Grant Thornton Kessel
Feinstein Corporate
Finance (Proprietary)
Limited
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