| Wed 18 Sep 2002, 17:55 | | Daewoo - Salient Dates For Proposed Scheme Of Arra |
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Daewoo - Salient dates for proposed scheme of arrangement
Daewoo Electronics S.A. Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/004570/06)
Share code: DAE ISIN: ZAE000009437
("Daewoo" or "the company")
Salient dates for proposed scheme of arrangement
1. Introduction
It was announced in the press on 22 July 2002 that Daewoo intended to
propose a scheme of arrangement in terms of section 311 of the Companies
Act, 1973 ("the scheme"), as amended, between Daewoo and its
shareholders other than Daewoo Electronics Investment Company (Pty)
Limited ("the scheme members") which, if implemented, would result in
Daewoo being wholly-owned by Daewoo Investments Company (Pty) Limited
and the company`s listing being terminated on the JSE Securities
Exchange South Africa ("the JSE"). In terms of the scheme, scheme
members recorded in the register on the record date of the scheme will,
upon the scheme becoming operative, be entitled to receive a cash
payment of 2 cents for every Daewoo share held.
2. Salient dates and times
The salient dates and times in respect of the scheme are set out
below:
2002
Last day to trade on the JSE in order to be Friday, 4
able to vote at the scheme meeting October
Record date in order to vote at the scheme Friday, 11
meeting October
Last day to lodge form of proxy for the Monday, 14
general meeting, by 9:00 on October
Last day to lodge form of proxy for the Monday, 14
scheme meeting, by 9:30 on October
General meeting to be held at 09:00 on (see Wednesday, 16
note 2 below) October
Scheme meeting to be held at 9:30 on (see Wednesday, 16
note 2 below) October
Results announcement on SENS on Wednesday, 16
October
Results announcement published in press on Thursday, 17
October
Court hearing to sanction the scheme on Tuesday, 29
October
Announcement that scheme is unconditional Wednesday, 30
on SENS October
Announcement that scheme is unconditional Thursday, 31
published in press on October
Last day to trade in order to participate Friday, 1
in the scheme November
Expected suspension of listing of Daewoo
shares on the JSE from the commencement of Monday, 4
business on November
Record date to participate in the scheme Friday, 8
November
Operative date of the scheme on Monday, 11
November
Consideration cheques posted to
certificated scheme participants or Monday, 11
deposited directly into scheme November
participant`s bank account or
dematerialised shareholders will have their
accounts credited at CSDP or broker on (see
note 3 below)
Expected termination of listing of Daewoo
on the JSE with effect from the Tuesday, 12
commencement of business on November
Notes:
These dates and times are subject to change. Any such change will be
published in the press.
If a form of proxy is not received by the time and date shown above, it
may be handed to the chairperson of the general meeting or the scheme
meeting, as the case may be, no later that 10 (ten) minutes before the
commencement of the relevant meeting.
Share certificates may not be dematerialised after Friday, 1 November
2002.
3. Circular to shareholders
A circular to Daewoo shareholders, containing detailed information
regarding the scheme and incorporating a notice of general meeting and
of the scheme meeting, will be posted to Daewoo shareholders on 19
September 2002.
Johannesburg
18 September 2002
Corporate Advisor Sponsor
Corporate Solutions Exchange Sponsors
Legal Advisor Independent Advisor to Daewoo
shareholders
Fluxmans BDO Spencer Steward
Date: 18/09/2002 05:12:00 PM Produced by the JSE SENS Department
