| Wed 21 May 2003, 15:37 | | G&i - Increased Offer Price, Revised Salient Dates |
|
&I - INCREASED OFFER PRICE, REVISED SALIENT DATES AND RESULTS OF THE 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
INCREASED OFFER PRICE, REVISED SALIENT DATES AND RESULTS OF THE GENERAL MEETING
A). INCREASED OFFER PRICE AND REVISED CLOSING DATE
Shareholders are 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.
The closing date of the offer has been extended to Friday, 13 June 2003. Any
shareholder who has validly accepted the offer, prior to the revised closing
date, will be paid on Monday, 2 June 2003 or seven days after acceptance of the
offer, whichever is the later.
B). 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.
C). SALIENT DATES AND TIMES
2003
Last day to trade in order to participate in the offer on Friday, 6 June
Suspension of G&I shares on the JSE on Monday, 9 June
Record date to participate in the offer on Friday, 13 June
Offer closes at 12h00 on (See notes 2 and 3 below) Friday, 13 June
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, within seven days of acceptance, from Monday, 02 June
Announce the results of the offer and notice in terms of 440K (if applicable) on
SENS on Tuesday, 17 June and in the press on Wednesday 17 June
Termination of G&I listing on the JSE with effect from the commencement of
trading on Tuesday, 17 June
Notes:
1. The above dates and times are subject to amendment. Any such amendments to
the dates and times will be published in the press.
2. 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.
3. Share certificates may not be dematerialised after Friday, 6 June 2003,
subject to any amendment announced on SENS and/or in the press.
4. 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 this event, the requisite notice and announcement will be published on SENS
and in the press.
Johannesburg
21 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: 21/05/2003 07:02:04 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
