Amalgamated Appliance Holdings Limited - Results O
Amalgamated Appliance Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1997/004130/06)
Share code AMA ISIN ZAE000012647
("AMAP")
RESULTS OF THE OFFER
Shareholders are hereby notified that the offer by Salton Hong Kong Limited
("Salton") to the Amap minority shareholders to acquire a further 21,2% of the
issued share capital of Amap ("the offer") closed on Friday, 16 May 2003. Salton
has successfully increased its shareholding in Amap from 30,8% to 52% by
acquiring a further 43 876 170 Amap ordinary shares from the Amap minority
shareholders in terms of the offer.
Amap minority shareholders holding 39 078 307 Amap ordinary shares accepted
the offer in respect of their basic entitlement, being 30,6% of their
shareholding in Amap. A further 77 522 908 Amap ordinary shares were tendered by
the Amap minority shareholders in excess of their basic entitlement ("the excess
shares"), however as Salton only wished to acquire a maximum of 43 876 170 Amap
ordinary shares, only 4 797 863 Amap ordinary shares of the excess shares were
acquired by Salton (ie. a maximum of 6,189% of each Amap minority shareholder"s
excess shares tendered were acquired by Salton).
Certificated AMAP minority shareholders who have accepted the offer will have
their cheques mailed on or about Tuesday, 20 May 2003. Dematerialised AMAP
minority shareholders who have accepted the offer will have their accounts with
their CSDP or broker credited on or about Tuesday, 20 May 2003.
Johannesburg
19 May 2003
Independent advisor and sponsor
Bridge Capital
Corporate law advisors and consultants
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & Consultants
(Registration number 1999/026464/07)
Date: 19/05/2003 05:15:04 PM Supplied by www.sharenet.co.za
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