| Mon 30 Sep 2002, 17:33 | | Chester Investment Holdings Limited - Salient Date |
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CHESTER INVESTMENT HOLDINGS LIMITED - SALIENT DATES : PROPOSED DELISTING AND
OFFER TO REPURCHASE SHARES
CHESTER INVESTMENT HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1983/005300/06)
(SHARE CODE: CES ISIN: ZAE000013348)
("CHESTER" OR "THE COMPANY")
SALIENT DATES : PROPOSED DELISTING AND OFFER TO REPURCHASE SHARES
1. INTRODUCTION
It was announced on SENS and in the press on 30 August 2002 that the directors
of Chester proposed that:
1.1 the company makes an offer to Chester shareholders to repurchase from
Chester shareholders all their shares for a cash consideration of 85 cents per
share ("the repurchase offer"); and
1.2 the directors be authorised to apply to the JSE Securities Exchange South
Africa ("the JSE") for the voluntary termination of Chester`s listing on the JSE
with effect from a date after, and subject to, the implementation of the
repurchase offer.
2. SALIENT DATES
2002
Circular posted to shareholders Tuesday, 1
October
Repurchase offer opens Tuesday, 1
October
Last day to lodge forms of proxy for the Monday, 21
general meeting of Chester shareholders by October
09:00
General meeting of Chester shareholders to Wednesday, 23
be held at 09:00 October
Results of general meeting announced - Wednesday, 23
on SENS October
- in the press Thursday, 24
October
Last day to trade Chester shares to Friday, 1
qualify to participate in the repurchase November
offer
Listing of Chester shares on the JSE Monday, 4
suspended at the commencement of trade November
Repurchase offer closes at 16:00 (see note Friday, 8
2) November
Record date for determining which Chester Friday, 8
shareholders are to remain shareholders in November
the unlisted company
Subject to valid acceptance of the Monday, 11
repurchase offer by Friday, 8 November November
2002, payment will be made to shareholders
at their risk (see note 4)
Listing of Chester shares on the JSE Tuesday, 12
terminated at the commencement of trade November
Notes:
The above dates are subject to amendment. Any change will be published on SENS
and in the press.
Dematerialised shareholders are required to notify their duly appointed CSDP or
broker of their acceptance of the offer in the manner and time stipulated in the
agreement governing the relationship between the shareholder and his/her CSDP or
broker.
Chester shares may not be dematerialised after Friday, 1 November 2002, but may
still be rematerialised after Friday, 8 November 2002.
Subject to the repurchase offer becoming unconditional, payment to shareholders
accepting the repurchase offer will be made within 7 days of valid acceptance of
the repurchase offer being received, but in any event no earlier than, and
subject to, the repurchase offer becoming unconditional. In the case of
certificated shareholders, such payment will be made by cheque or deposited
directly into the shareholders` bank account, at the risk of the shareholder
concerned. In the case of dematerialised shareholders, payment will be made by
crediting their account at the CSDP or broker, as agreed to between the
shareholder and the CSDP or broker.
3. CIRCULAR TO SHAREHOLDERS
A circular to Chester shareholders, containing details of the proposed delisting
and the repurchase offer and notice of a general meeting of Chester
shareholders, will be posted to Chester shareholders today.
Johannesburg
1 October 2002
Attorneys Reporting
Investment bank and Accountants and
sponsor independent adviser
to Chester
shareholders
PSG INVESTMENT BANK
FLUXMANS FISHER HOFFMAN PKF
(JHB) INC.
Date: 30/09/2002 05:12:00 PM Produced by the JSE SENS Department
