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Servest Holdings Limited
(Registration Number 1986/000785/06)
Share code: SRV
ISIN: ZAE000015806
("Servest" or "the Company")
AMB Private Equity Partners Limited
(Registration Number 1998/015329/06)
Share code: APP
ISIN: ZAE000026936
("AMB Partners")
Joint supplementary announcement
Introduction
Shareholders of Servest and unitholders of AMB Partners are referred to
the announcement dated 5 July 2002 (and supplemented by announcements
dated 12 July 2002, 23 July 2002 and 7 August 2002) regarding:
* the sale by Servest for cash of its investment in Servest
(Proprietary)
Limited ("the sale") to a consortium led by AMB Partners, in accordance
with section 228 of the Companies Act, 1973 (Act 61 of 1973), as
amended;
* the distribution to shareholders of Servest of the proceeds of the
sale together with residual cash remaining within Servest, by way of a
distribution in anticipation of liquidation; and
* the delisting, the payment of a final liquidation dividend and the
winding-up of the Company.
Posting of circulars
A circular containing further information and a notice of a general
meeting of Servest shareholders to be convened to consider and, if
deemed fit, to pass, with or without modification, the resolutions
required to effect, inter alia, the sale was posted today, 15 August
2002, to the shareholders of Servest.
A circular containing details of the sale will be posted to AMB Partners
unitholders for information purposes only, on or about 21 August 2002.
Salient dates and times for the shareholders of Servest
The salient dates and times contained in the joint announcement dated 23
July 2002 have changed and are now anticipated to be as detailed below.
2002
Finalisation announcement to be released on SENS on Tuesday 3 September
Finalisation announcement to be published in
the press on Wednesday 4 September
Last day for shareholders to lodge forms of proxy
for the general meeting, by 10:00 on Thursday 5 September
General meeting held at 10:00 on Monday 9 September
Results of the general meeting and expected announcement
of the fulfilment of the remaining conditions precedent
released on SENS on Monday 9 September
Results of the general meeting and expected announcement
of the fulfilment of the remaining conditions precedent
published in the press on Tuesday 10 September
Expected last day to trade in Servest shares on the JSE
in order to be entitled to receive the initial
distribution and any further distributions on Wednesday 11 September
Expected date of suspension of the listing of Servest
on the JSE from the commencement of trade on Thursday 12 September
Expected record date to be recorded on the register
to receive the initial distribution and any further
distributions on Wednesday 18 September
Expected date of payment of the initial distribution
on Thursday 19 September
Expected termination of listing at commencement of
trade on Friday 20 September
Notes:
1. Any change of the above dates and times, approved as necessary by
the JSE and the SRP, will be published in the press and released on
SENS.
2. Dematerialised shareholders other than those with own name
registration recorded on the register on the record date for voting must
provide their CSDP with their instructions for attendance or voting at
the general meeting in the manner stipulated in the custody agreement
governing the relationship between such shareholders and the CSDP.
These instructions must be provided to the CSDP by the cut-off time and
date advised by the CSDP for instructions of this nature.
3. Share certificates may not be dematerialised or rematerialised after
Wednesday 11 September 2002.
Further cautionary announcement
Servest shareholders are referred to the supplementary announcement
issued by Servest on 12 July 2002 where they were advised that,
subsequent to the 5 July 2002 announcement, Servest had received a
letter from a competitor company stating that they were a bona fide
potential offeror and requesting information in terms of Rule 16.4 of
the Securities Regulation Code on Takeovers and Mergers ("the Code"),
which provides that competing bona fide offerors are entitled to equal
information. Servest has complied fully with its obligations under Rule
16.4 of the Code, but no offer has yet been received from the competitor
company. Shareholders of Servest are advised to continue exercising
caution while dealing in Servest shares until a further announcement is
made in this regard.
15 August 2002
Investment bank, transaction sponsor and independent adviser to Servest
Nedcor Investment Bank
Corporate law advisers and consultants to Servest
Edward Nathan & Friedland (Pty) Limited
Sponsor to Servest
Deutsche Securities SA (Pty) Limited
Merchant bank and joint sponsor to AMB Partners
African Merchant Bank Limited
Lead sponsor to AMB Partners
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 16/08/2002 07:05:00 AM Produced by the JSE SENS Department
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