| Wed 3 Jul 2002, 0:00 | | Jci Gold - Implementation Of The Scheme Of Arrange |
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JCI Gold - Implementation of the scheme of arrangement
JCI GOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/005215/06)
(Share code JCG ISIN: ZAE 000015467)
("JCI Gold")
Implementation of the scheme of arrangement
1. Fulfilment of the remaining conditions precedent to the scheme
Corpcapital Corporate Finance is authorised to announce that:
* the scheme of arrangement ("the scheme") proposed by Consolidated African
Mines Limited ("CAM") between JCI Gold and its shareholders, other than CAM,
was sanctioned by the High Court of South Africa (Transvaal Provincial
Division) ("the Court") on Tuesday, 2 July 2002; and
* the Order of Court sanctioning the scheme was lodged and registered with
the Registrar of Companies on Wednesday, 3 July 2002.
Accordingly, all of the conditions precedent to the scheme have been
fulfilled and the scheme will become operative on Monday, 15 July 2002 ("the
operative date").
In terms of the scheme, scheme participants, will receive a scheme
consideration of R4,00 in cash, seven new CAM shares issued at R0,45 each,
and four CAM debentures of R1,25 each for every JCI Gold share held by them
on Friday, 12 July 2002 ("the record date"). Until Wednesday, 10 July 2002,
scheme participants may elect to receive nine new CAM shares issued at R0,45
each and credited as fully paid ("the share alternative") instead of cash of
R4,00 ("the cash component").
2. Suspension and termination of listing
The trading of JCI Gold shares on the JSE Securities Exchange South Africa
("JSE") will be suspended with effect from the commencement of trading on
Monday, 8 July 2002 and the listing of JCI Gold shares will be terminated
with effect from the commencement of trading on Tuesday, 16 July 2002.
3. Action required
Scheme participants, who hold their shares in certificated form are required
to surrender their documents of title in order to receive the scheme
consideration. A form of surrender was included in the circular posted to
shareholders on Tuesday, 4 June 2002 for this purpose. A second form of
surrender will, together with this announcement, be posted to JCI Gold
shareholders on about Thursday, 4 July 2002.
On the operative date, the scheme consideration will be posted to or, where
appropriate arrangements have been made, deposited in the bank accounts of
scheme participants who hold their shares in dematerialised form or who have
surrendered their documents of title before the operative date. The scheme
consideration will be posted to the scheme participants who hold their
shares in certificated form and who surrender their documents of title on or
after the operative date, within five business days of receipt of their
documents of title by the transfer secretaries, Computershare Investor
Services Limited.
Scheme participants who wish to receive the share alternative instead of the
cash component must make the election by Wednesday, 10 July 2002.
Johannesburg
3 July 2002
Corporate Attorneys Reporting Joint sponsor
advisor and accountants
lead sponsor and
independent
advisor to
scheme
participants
Corpcapital Tabacks KPMG Sasfin
Corporate
Finance
(a sponsor
registered .)
Date: 03/07/2002 01:48:24 PM Produced by the SENS Department
