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Tradek Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1964/001296/06)
Share Code: TDK ISIN: ZAE000018891
("Tradek" or "the company")
RESULTS OF THE OFFER TO MINORITY SHAREHOLDERS
Introduction
Shareholders are referred to the announcements published on 21 November and 13
December 2002 and the circular posted to shareholders on 13 December 2002 in
which it was stated that Northpark Trading 47 (Pty) Ltd ("Northpark") would make
an unconditional offer to the minority shareholders of Tradek ("the Tradek
shareholders"), to acquire their ordinary shares in Tradek.
The offer
Prior to commencement of the offer, Northpark held 119 862 977 Tradek ordinary
shares representing 64,9% of Tradek`s issued ordinary share capital. The total
number of acceptances received for the offer which closed at 16:00 on 10 January
2002, was 60 748 271 Tradek ordinary shares representing 93.6% of the offer
shares. As a result Northpark now owns 180 611 248 ordinary Tradek shares,
representing 97.7% of Tradek`s issued ordinary share capital.
As the offer has been accepted in respect of more than 90% of the offer shares,
Northpark now intends acquiring the remainder of the shares held by Tradek
shareholders who did not accept the offer in terms of section 440K(1)(a) of the
Companies Act, 1973 (Act 61 of 1973), as amended ("the Act"). The notice in
terms of section 440K(1) of the Act will be posted on 20 January 2003 to those
Tradek shareholders who did not accept the offer.
Surrender of Shares
If they have not already done so, certificated Tradek shareholders are requested
to surrender their document(s) of title in respect of their Tradek ordinary
shares. Northpark will make payment of amounts due to the Tradek shareholders
who lodge properly completed forms of surrender, together with relevant
document(s) of title, within seven days of receipt by the transfer secretaries
of the relevant form of surrender, together with the requisite document(s) of
title.
Where dematerialised shareholders are concerned, the CSDP or broker will be
credited with any amount due to Tradek shareholders within seven days in terms
of the custody agreement entered into between dematerialised shareholder and
his/her CSDP or broker.
Instruments of transfer signed by Northpark will be submitted to Tradek in terms
of section 440K(2) of the Act in respect of those Tradek shareholders who do not
surrender their document(s) of title ("the remaining Tradek shareholders")
within seven days of the later of the expiry of the notice or the dismissal of
any application to the Court made in terms of section 440K(1) of the Act.
Thereafter the ordinary shares of the remaining Tradek shareholders will be
transferred to Northpark. The cash consideration of 12 cents per share in
respect of the shares of the remaining Tradek shareholders so transferred, will
be held in trust by Tradek, for the benefit of the remaining Tradek shareholders
entitled thereto, pending the surrender of their document(s) of title, or the
waiver by Northpark of the requirements to deliver such documents. No interest
will accrue or be paid to shareholders from any funds so held.
Listing of Tradek
Trading in Tradek ordinary shares on the JSE Securities Exchange South Africa
("the JSE") will be suspended with effect from the commencement of business on
Tuesday, 14 January 2003. The listing of Tradek ordinary shares on the JSE will
be terminated with effect from the commencement of
business on Monday, 10 March 2003.
Johannesburg
13 January 2003
Corporate Advisor and
Transactional Sponsor
SASFIN BANK LIMITED
Joint Sponsor
EXCHANGE SPONSORS
Attorneys to Tradek
FLUXMANS
Date: 13/01/2003 03:58:49 PM Produced by the JSE SENS Department
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