Admiral - Announcement
ADMIRAL LEISURE WORLD LIMITED AUSTRIAN GAMING INDUSTRIES
(Incorporated in the GmbH
Republic of South Africa) (Incorporated in Austria)
(Registration number 1938/011493/06) ("AGI")
Share code: ADL ISIN: ZAE000010229
("the company" or "Admiral")
RESULTS OF THE OFFER BY AUSTRIAN GAMING INDUSTRIES GmbH TO THE MINORITY
SHAREHOLDERS OF ADMIRAL LEISURE WORLD LIMITED
Shareholders of Admiral ("shareholders") are referred to the announcement
published on Tuesday, 29 October 2002 and the circular to shareholders dated 1
November 2002, in terms of which AGI made an irrevocable offer to acquire the
ordinary shares ("offer shares") held by shareholders (other than AGI, its
holding company, Novomatic AG ("Novomatic"), Casino Systems Consulting AG
("CSC"), an associate company of Novomatic AG and Regina Anna Wulz) ("minority
shareholders"), at an offer consideration of thirty-two cents per offer share
("offer").
As at 25 October 2002, being the last practicable date before AGI made the
offer, AGI, together with Novomatic and CSC, held a total of 25 924 564 shares
in Admiral, which constituted approximately 74% of Admiral`s issued share
capital.
The offer closed at 14:00 on Friday, 22 November 2002. The total number of
acceptances received was for 2 346 033 offer shares, representing 32% of the
offer shares. Following the offer, AGI, together with Novomatic and CSC, hold a
total of 28 270 597 shares in Admiral, which constitutes approximately 81% of
Admiral`s current issued share capital.
As the offer has been accepted in respect of less than 90% of the offer
shares, AGI is unable to invoke the provisions of section 440K of the Companies
Act, 1973 (Act 61 of 1973), as amended.
By order of the Board.
Admiral Leisure World Limited Austrian Gaming Industries GmbH
27 November 2002 27 November 2002
Attorneys
Werksmans Incorporated
(Registration number 1990/007215/21)
Sponsors
Werksmans Sponsors (Pty) Limited
(Registration number 2000/005164/07)
Independent advisor
Bridge Capital Services (Pty) Limited
(Registration number 1998/016301/07)
(A sponsor registered with
the JSE Securities Exchange South Africa)Auditors
Auditors
Papilsky Hurwitz
Chartered Accountants (SA)
Date: 27/11/2002 03:05:51 PM Produced by the JSE SENS Department
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