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MUSTEK LIMITED
Incorporated in the Republic of South Africa
(Registration number 1987/070161/06)
("Mustek" or "the company")
Share Code: MST ISIN Code: ZAE000012373
PRO RATA REPURCHASE OFFER
1. Introduction
Shareholders are referred to the announcement on 11 December 2002 in which the
terms of the proposed listing of Taiwan depository receipts ("TDRs") by Mustek
("the TDR transaction") and the proposed pro rata repurchase offer to Mustek
sharesholders were announced.
In terms of the TDR transaction Mustek will issue 20 million shares for cash to
the custodian bank. These shares will underlie the 20 million depository
receipts to be issued by the depository bank. The issue of the depository
receipts has been fully underwritten and these TDRs will be listed on the
Taiwan Securities Exchange ("TSE") at the equivalent of 500 cents per depositary
receipt ("the TDR listing price"). The proposed listing date of the shares on
the JSE and the TDRs on the TSE is Monday, 20 January 2003.
2. Terms of the Pro rata offer
In order to allow Mustek shareholders to effectively participate in the
immediate benefits of the TDR transaction, Mustek shareholders will be allowed
to sell up to 10% of their shares to Mustek by way of a pro rata share buy back
at the TDR listing price of 500 cents per share ("the pro rata offer").
In addition shareholders that wish to sell further shares may tender such excess
shares in terms of the excess pro rata offer at 500 cents per share ("the excess
pro rata offer"). Mustek may, under the excess pro rata offer, elect to acquire
from shareholders the further shares so tendered, upon such equitable basis as
the directors resolve.
3. Salient dates and times
The salient dates and times in respect of the pro rata offer and excess pro rata
offer are set out below:
2003
Pro rata and excess pro rata offers open at Friday, 17 January
9:00 on
Last day to trade as a shareholder in order Friday, 31 January
to participate in the pro rata and excess pro
rata offers on
Shares will trade ex the pro rata and excess Monday, 3 February
pro rata offers on
Pro rata and excess pro rata offers close at Friday, 7 February
16:00 on (note 3)
Record date for determination of which Mustek Friday, 7 February
shareholders have accepted the pro rata offer
Cheques posted or electronically transferred Monday, 10 February
to certificated shareholders, if documents of
title received on or prior to 7 February 2003
and CSDP`s or broker safe custody accounts
will be credited and updated in respect of
dematerialised shareholders on
Results of the pro rata offer and allocation Monday, 10 February
of excess applications announced on SENS
Results of the pro rata offer and allocation Tuesday, 11 February
of excess applications published in the press
on
Shares delisted and cancelled at commencement Monday, 17 February
of business on or before
Notes:
1. The above dates and times are subject to amendment. Any amendments will be
published in the press.
2. Share certificates may not be rematerialised or dematerialised between
Monday, 3 February 2003 and Friday, 7 February 2003, both days inclusive.
3. Dematerialised shareholders are required to notify their duly appointed CSDP
or broker, in the manner and time stipulated in the agreement governing the
relationship between the shareholder and the CSDP or broker, of the acceptance
of the pro rata offer.
4. Circular to shareholders
A circular to Mustek shareholders containing details of the pro rata offer
including an excess pro rata offer, will be posted to Mustek shareholders on 15
January 2003.
Midrand
15 January 2003
Sponsor Legal advisors
Exchange Sponsors Kramer & Viljoen
Joint corporate advisors
Merchantec Corporate Solutions
Date: 16/01/2003 07:05:00 AM Produced by the JSE SENS Department
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