Genbel South Africa Limited - Gensec Offer Gets Tribunal Approval
Genbel South Africa Limited
Johannesburg - Friday July 26, 2002
The Competition Tribunal has ruled that the cash offer by Genbel
Securities (Gensec) to the shareholders in closed-end investment trust,
Genbel South Africa, is approved.
At a ruling earlier this week the Tribunal gave its unconditional
approval to the transaction so that the offer could proceed. The
Tribunal also ordered that a merger clearance certificate be issued.
Genbel shareholders will be asked to vote on the scheme of arrangement
that, if approved, will give them a cash amount for their Genbel shares
and ultimately result in the delisting of Genbel from September 3.
On Monday this week, Genbel released its audited results for the 12
months to June 30 and mailed to its shareholders both the latest annual
report and a document detailing the Gensec offer.
ends
ISSUED BY: PENELOPE GRACIE INVESTOR RELATIONS
ON BEHALF OF: GENBEL SOUTH AFRICA
FURTHER INFORMATION: PENELOPE GRACIE
CONTACT: OFFICE +27 (11) 447-3301
MOBILE 082-55-77-444
Date: 26/07/2002 12:00:00 PM Produced by the JSE SENS Department
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