| Tue 20 May 2003, 14:34 | | Gubb & Inggs Limited - Increased Offer Price And R |
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GUBB & INGGS LIMITED - INCREASED OFFER PRICE AND RESULTS OF GENERAL MEETING
GUBB & INGGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No: 1916/001495/06)
("G&I" or "the company")
JSE Code: GUB - ISIN CODE: ZAE000003208
RESULTS OF THE GENERAL MEETING, SALIENT DATES AND REVISED OFFER PRICE
RESULTS OF THE GENERAL MEETING
Shareholders are advised that, at the General Meeting of shareholders of G&I,
held on 20 May 2003 shareholders holding 259,887 shares representing 59,07% of
the minority shareholders, unanimously voted in favour of the requisite
resolutions to delist the shares of G&I from the JSE Securities Exchange South
Africa.
SALIENT DATES AND TIMES
2003
Last day to trade in order to participate
in the offer on Friday, 23 May
Suspension of G&I shares on the JSE on Monday, 26 May
Record date to participate in the offer on Friday, 30 May
Offer closes at 12h00 on (See notes 2 and
3 below) Friday, 30 May
Offer consideration made available to
shareholders who have elected to accept
the offer and have surrendered their
documents of title to the transfer
secretaries, through:
posting of cheques to entitled
shareholders owning shares in certificated
form;
credit of the accounts of entitled
shareholders with CSDP"s or brokers in
those cases where shares have been
dematerialised and are managed by CSDP"s
or brokers, on or about Monday, 02 June
Announce the results of the offer and
notice in terms of 440K (if applicable) on
SENS on Monday, 02 June
and in the press on Tuesday, 3 June
Termination of G&I listing on the JSE with
effect from the commencement of trading on Tuesday, 3 June
If section 440K becomes applicable, a
further announcement will be made setting
out the applicable salient dates
Notes:
The above dates and times are subject to amendment. Any such amendments to the
dates and times will be published in the press.
Dematerialised shareholders are required to notify their duly appointed CSDP or
broker of their acceptance of the offer in the manner and time stipulated in
accordance with the agreement between the CSDP or broker and the shareholder.
Share certificates may not be dematerialised after Friday, 23 May 2003 should
the listing be terminated subject to any amendment announced on SENS and/or in
the press.
Cheques in respect of acceptances of the offer by certificated shareholders will
be posted to the relevant G&I certificated shareholders and crediting of the
accounts of entitled shareholders with CSDP"s or brokers in those cases where
shares have been dematerialised and are managed by CSDP"s or brokers.
5.If, on or prior to the closing date of the offer, the offer has been accepted
by G&I shareholders holding not less than nine-tenths (90%) of the offer shares,
Merwool may decide to invoke the provisions of section 440K of the Companies Act
of 1973, as amended, to compulsorily acquire the remainder of the offer shares.
In the event of such a decision being taken, the offer will be declared
unconditional and the termination of the listing of G&I shares on the JSE will
take place on the date outlined above. In this event and to the extent
necessary, the requisite notice and announcement will be published on SENS and
in the press.
INCREASE IN THE OFFER PRICE
Shareholders are further advised that the offer price for the G&I shares has
been increased from R18.00 per G&I share to R20,50. Shareholders who have
already accepted the offer will receive the revised offer price.
Johannesburg
20 May 2003
Sponsor
The Janus Corporation (Pty) Ltd
Attorneys
Rushmere Noach Inc
Auditors to G&I and independent advisers to G&I shareholders
Fisher Hoffman PKF
Date: 20/05/2003 11:40:26 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
