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CULLINAN HOLDINGS LIMITED: DECLARATION THAT THE OFFER IS UNCONDITIONAL
CULLINAN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1902/001808/06)
JSE Share code: CUL ISIN: ZAE000013710
("Cullinan")
DECLARATION THAT THE OFFER IS UNCONDITIONAL
1. Unconditional offer
Brait Advisory Services Limited is authorised to announce that the offer made
by Travcorp Financial Services Limited to the shareholders of Cullinan ("the
offer"), as set out in detail in the circular to Cullinan shareholders dated 13
June 2002, has been declared unconditional as to acceptances. The remaining
condition precedent being the registration of the special resolutions with the
Registrar of Companies, has been duly met. In terms of the Securities Regulation
Panel Code, the offer will remain open for a further minimum period of 14 days
and will close at 16:30 on Friday, 26 July 2002.
2. Surrender of share certificates or other documents of title
Cullinan shareholders who wish to accept the offer may surrender their share
certificates or other relevant documents of title in respect of their Cullinan
shares for the consideration of 11 cents per Cullinan share by no later than
Friday, 26 July 2002.
Shareholders that have dematerialised their shares with a Central Securities
Depository Participant ("CSDP") or broker must arrange with the CSDP or broker
concerned to provide them with the necessary documentation should they elect to
accept the offer. This must be done in terms of the agreement entered into
between the shareholders concerned and the CSDP or broker concerned.
3. Cheques
Cheques in respect of the offer consideration will be posted to the Cullinan
shareholders who accept the offer, or deposited directly into the shareholders`
bank accounts, depending on the Cullinan shareholders` instructions contained in
the properly completed form of surrender and acceptance, within seven business
days of receipt of the properly completed form of surrender and acceptance and
valid documents of title. Shareholders who have already dematerialised their
shares through a CSDP or broker will receive the offer consideration as agreed
to between the shareholder and CSDP or broker.
Sandton
10 July 2002
Corporate advisor
Brait
Sponsor
LPC Manhattan Sponsors
(Registration number 1999/024792/07)
Independent advisor to the Cullinan minorities
BDO Spencer Steward (CT) Inc
Chartered Accountants (SA)
Registered Accountants and Auditors
Legal advisor to Cullinan
Rabin, van den Berg & Pelkowitz
Advisory Services (Pty) Ltd
(Registration number 1999/017244/07)
Legal advisor to Travcorp
Bernadt-Vukic-Potash & Getz Attorneys
Independent reporting accountants
BDO Spencer Steward (CT) Inc
Chartered Accountants (SA)
Registered Accountants and Auditors
Date: 10/07/2002 04:21:00 PM Produced by the JSE SENS Department
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