| Fri 20 Dec 2002, 17:44 | | Results Of Offer By Time Quantum (gauteng) To Shar |
|
Results Of Offer By Time Quantum (gauteng) To Shareholders Of Crux ("offer")
Release Date: 20/12/2002 17:40:06 Code(s): CRX
Results Of Offer By Time Quantum (Gauteng) To Shareholders Of Crux ("Offer")
Crux Technologies Limited Time Quantum Consulting
(Incorporated in the Republic of (Gauteng) (Proprietary) Limited
South Africa) (Incorporated in the Republic of
South Africa)
(Registration number 1998/012784/06) (Registration number 2002/007155/07)
(Share code: CRX ISIN: ZAE000015855)("Time Quantum (Gauteng)")
("Crux")
RESULTS OF OFFER BY TIME QUANTUM (GAUTENG) TO SHAREHOLDERS OF CRUX ("OFFER")
AND
THE DELISTING OF THE SHARES OF CRUX FROM THE JSE SECURITIES EXCHANGE SOUTH
AFRICA (JSE")
Results of offer
Shareholders of Crux are referred to the announcements of 31 October 2002 and 29
November 2002, and to the circular to shareholders of Crux dated 29 November
2002 ("the circular"), in terms of which, Time Quantum (Gauteng) made an
irrevocable cash offer to acquire the ordinary shares ("shares") of Crux held by
shareholders, other than the 61 265 838 shares held by Time Quantum (Gauteng)
and its associates and the 26 457 570 shares ("treasury shares") owned by, or on
behalf of, Crux Information Technologies (Proprietary) Limited ("CruxInfoTech"),
for an offer consideration, in cash, of either five cents per share ("five cents
offer"), or four cents per share plus an agterskot payment ("four cents offer").
The offer closed at 16:00 on Friday, 20 December 2002. Of the 113 650 795
shares which comprised the offer ("offer shares"), acceptances of the offer were
received in respect of a total of 95 267 316 offer shares (83,82% of the offer
shares), on the following basis:
in respect of the four cents offer - 1 965 503 offer shares; and
in respect of the five cents offer - 93 301 813 offer shares.
Following the offer, Time Quantum (Gauteng) and its associates jointly hold a
total of 156 533 154 shares in Crux, which constitutes approximately 89,5% of
Crux`s issued share capital (excluding the treasury shares).
As the offer has been accepted in respect of less than 90% of the offer shares,
Time Quantum (Gauteng) is unable to invoke the provisions of section 440K of the
Companies Act, 1973 (Act 61 of 1973), as amended, to compulsorily acquire the
remaining offer shares.
Delisting of the shares of Crux on the JSE and reminder of important dates
At the general meeting of Crux held at 10:00 on Thursday, 19 December 2002, the
ordinary resolution necessary to approve the voluntary delisting of the shares
of Crux on the JSE was duly passed by the required majority. Accordingly,
shareholders are reminded of the following important dates for the payment of
the offer consideration and the suspension and delisting of the shares of Crux
on the JSE:
Date: 20/12/2002 05:40:00 PM Produced by the JSE SENS Department
