| Fri 6 Jun 2003, 15:31 | | African Harvest - RESULTS OF THE SCHEME AND GENERA |
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African Harvest Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/013827/06)
Share code: AHV ISIN: ZAE000013538
("African Harvest" or "the company")
1. RESULTS OF THE SCHEME AND GENERAL MEETINGS
Deutsche Securities (SA) (Pty) Limited is authorised to announce that:
1.1. at a meeting held at 10:00 today, the requisite majority of African
Harvest shareholders present and voting in person or by proxy approved, without
modification, the scheme of arrangement proposed by Coronation Holdings Limited
("Corohold") between African Harvest and its shareholders, other than Corohold
("the scheme"), regarding the acquisition by Corohold of all of the shares in
African Harvest not already owned by Corohold for 194 cents per share ("the
scheme consideration"). Upon the scheme becoming operative, African Harvest
will be delisted from the JSE Securities Exchange South Africa ("JSE"); and
1.2. at a general meeting held at 10:30 today, the requisite majority of
African Harvest shareholders present and voting in person or by proxy approved
by special resolution the change of name of African Harvest to Coronation
Equities Limited.
2. CONDITIONS PRECEDENT
The scheme is subject to the following conditions precedent which are still to
be fulfilled:
a) the sanction of the scheme by the High Court of South Africa; and
b) the order of the High Court being lodged with and registered by the
Registrar of Companies.
Application will be made for the sanctioning of the scheme at 10:00 or so soon
thereafter as the matter may be heard on Thursday, 19 June 2003 in the High
Court of South Africa, Cape of Good Hope Provincial Division, which is located
at Queen Victoria Street, Cape Town.
3. SALIENT DATES AND TIMES
As previously announced, the salient dates and times in regard to the
finalisation of the scheme, which is scheduled for Monday, 7 July 2003, are:
2003
Court hearing to sanction the scheme at 10h00 Thursday, 19 June
or as soon thereafter as Counsel may be heard
If the scheme is sanctioned and implemented,
results of the scheme published:
* on SENS Friday, 20 June
* in the press Monday, 23 June
Last day to trade in order to be eligible to Friday, 27 June
receive the scheme consideration
Suspension of African Harvest"s listing on the Monday, 30 June
JSE, from commencement of trade
Record date to be recorded on the register in Friday, 4 July
order to receive the scheme consideration
Expected operative date of the scheme at the Monday, 7 July
commencement of trading
Scheme consideration cheques posted to Monday, 7 July
certificated scheme participants (if documents
of title received on or prior to the record
date for the scheme), or
failing receipt of documents of title on or
before the record date for the scheme, within
five business days after receipt thereof by the
transfer secretaries
Dematerialised scheme participants will have Monday, 7 July
their accounts held at their CSDP or broker
credited with the scheme consideration on
Expected date of termination of African Harvest Tuesday, 8 July
listing on the JSE, from commencement of trade
Notes:
African Harvest share certificates may not be rematerialised or dematerialised
after Friday, 27 June 2003.
4. SURRENDER OF DOCUMENTS OF TITLE
Forms of surrender in respect of the scheme were included in the circular to
African Harvest shareholders dated 15 May 2003. Certificated shareholders of
African Harvest are requested to complete the form of surrender and return it,
together with their documents of title, as soon as possible, to the company"s
transfer secretaries, namely Computershare Investor Services Limited, Ground
Floor, 70 Marshall Street, Johannesburg, 2001 (PO Box 61051, Marshalltown, 2107)
in order to receive the scheme consideration.
Any surrender forms and documents of title received prior to the scheme becoming
operative will be treated as conditional surrenders and held in trust by the
company"s transfer secretaries until the scheme becomes operative. Should the
scheme not become operative, the surrendered documents of title will be returned
to the scheme members concerned within five business days after either the date
on which it becomes known the scheme will not become operative, or after receipt
of the documents of title, whichever is the later.
Cape Town
6 June 2003
Independent financial Attorneys to the Sponsor
advisor scheme
NM Rothschild & Sons Hofmeyr Herbstein & Deutsche Securities
Gihwala Inc (SA) (Proprietary)
Limited
Auditors & reporting Attorneys to Corohold Transfer secretaries
accountants
Deloitte & Touche Deneys Reitz Inc. Computershare
Chartered Accountants Investor Services
(SA) Limited
Registered
Accountants and
Auditors
