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Pepkor Limited - Results of General Meeting And Finalisation Information
Relating To The Oddlot Offer
Pepkor Limited
(Incorporated in the Republic of South Africa)
(Registration number 1965/007765/06)
Share code: PEP
ISIN code: ZAE000005344
("Pepkor" or "the company")
RESULTS OF GENERAL MEETING AND FINALISATION INFORMATION RELATING TO THE
ODDLOT OFFER
1. Introduction
Shareholders are referred to the announcement dated 26 April 2002 and the
circular to shareholders dated 29 April 2002, which contain details of the
proposed oddlot offer to Pepkor shareholders holding less than 300 shares
("oddlot holders") in Pepkor at the close of business on Friday, 7 June 2002
("oddlot offer").
2. Results of general meeting
The special and ordinary resolutions required to give effect to the oddlot
offer were passed by the requisite majority of shareholders at the general
meeting held on Wednesday, 22 May 2002. The special resolutions have been
lodged with the Registrar of Companies for registration.
3. Offer price
The oddlot offer will be implemented at a price of R3,66 per share ("offer
price"), being the weighted average traded price of Pepkor shares on the JSE
Securities Exchange South Africa over the 10 trading days ended Monday, 20
May 2002.
4. Mechanism of the oddlot offer
The oddlot offer will be implemented on the basis that oddlot holders may,
up to the close of business on Wednesday, 5 June 2002, 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 oddlots.
The shares of oddlot holders who hold less than 100 shares on the record
date who do not make an election will be sold to those oddlot holders who
elect the purchase alternative or to Barnard Jacobs Mellet Private Client
Services (Proprietary) Limited, as the case may be.
Oddlot holders who hold 100 or more shares but less than 300 shares on the
record date who do not make an election will retain such holdings.
To the extent that there are insufficient ordinary shares to satisfy the
requirements of those oddlot holders who elect the purchase alternative,
Pepkor will issue new shares to the oddlot holders in question at the offer
price.
5. Salient dates
The salient dates relative to the oddlot offer are set out below:
2002
Last day to trade in order to Friday, 31 May
participate in the oddlot offer at the
close of business on
Election period for the oddlot offer Wednesday, 5 June
closes at the close of business on
Form of election and surrender for Wednesday, 5 June
oddlot offer to be received by the
transfer secretaries by the close of
business on
Record date to determine those Friday, 7 June
shareholders entitled to participate in
the oddlot offer at the close of
business on
Implementation of the oddlot offer Friday, 7 June
takes effect after the close of
business on
New share certificates or cheques in Monday, 10 June
respect of certificated shareholders
posted against surrender of existing
documents of title from
CSDP / broker accounts of Monday, 10 June
dematerialised shareholders debited /
credited with any amounts due / payable
and the shares reflected in those
accounts adjusted accordingly on
No share certificates may be dematerialised or rematerialised between
Monday, 27 May 2002 and Friday, 7 June 2002, both days inclusive.
Cape Town
23 May 2002
Corporate adviser and sponsor
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Date: 22/05/2002 04:50:00 PM Produced by the SENS Department
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