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CONGELLA FEDERATION LIMITED -
CONGELLA FEDERATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/025767/06)
Ordinary shares
Share code: CNF
ISIN: ZAE000001624
Preference shares
Share code: CNFP
ISIN: ZAE000001632
("ConFed" or "the Company")
FULFILMENT OF CONDITIONS PRECEDENT AND SALIENT DATES ANNOUNCEMENT
Introduction
ConFed ordinary shareholders and ConFed preference shareholders ("shareholders")
are referred to the announcement dated 30 April 2003, in which shareholders were
advised that the Board of Directors of ConFed had proposed to:
* dispose of ConFed"s property portfolio to Pangbourne Properties Limited;
* make a cash distribution to ConFed ordinary shareholders comprising
approximately R95,00 per ConFed ordinary share ("the cash distribution");
* return preference share capital and pay arrear preference dividends to
ConFed preference shareholders;
* make application to the JSE Securities Exchange SA ("JSE") for the
suspension and delisting of the Company; and
* propose a members" voluntary winding-up of ConFed in terms of sections 349
and 350 of the Companies Act, 1973 (Act 61 of 1973), as amended,
(collectively, "the Transaction").
Fulfilment Of Conditions Precedent
Shareholders are advised that all conditions precedent to the Transaction have
been fulfilled.
Cash Distribution
Shareholders are advised that the cash distribution to ConFed shareholders will
be as follows:
* ConFed ordinary shareholders will receive a cash distribution of R95,00 per
ConFed ordinary share; and
* ConFed preference shareholders will receive a return of preference share
capital of R2,00 per ConFed preference share and arrear preference
dividends of R0,0687 per ConFed preference share.
Salient Dates
The table below sets out the salient dates for the cash distribution to ConFed
ordinary shareholders and the return of preference share capital and the payment
of arrear preference dividends to ConFed preference shareholders.
2003
Last day to trade in ConFed ordinary shares and
ConFed preference shares in order to be recorded
in the register by the record date to receive the
cash distribution and the return of preference
share capital and arrear preference dividends,
respectively Friday, 17 October 2003
Suspension of the listing of ConFed ordinary
shares and ConFed preference shares on the JSE
on Monday, 20 October 2003
Record date on which ConFed ordinary shareholders
and ConFed preference shareholders must be recorded
in the register to receive the cash distribution
and the return of preference share capital and arrear
preference dividends, respectively Friday, 24 October 2003
The cash distribution to ConFed ordinary shareholders
and the return of capital and payment of arrear
preference dividends to ConFed preference shareholders
will be transferred to the CSDP or broker for ConFed
ordinary shareholders and ConFed preference shareholders
who have dematerialised their ConFed ordinary shares
and ConFed preference shares, respectively, on Monday, 27 October 2003
Cheques in respect of the cash distribution to ConFed
ordinary shareholders and the return of capital and
payment of arrear preference dividends to ConFed
preference shareholders will be posted to ConFed
ordinary shareholders and ConFed preference shareholders
respectively, who have not dematerialised their ConFed
ordinary shares or ConFed preference shares, on Monday, 27 October 2003
Termination of listing of ConFed ordinary shares and
ConFed preference shares on the JSE at the commencement
of trading on Tuesday, 28 October 2003
Notes:
1. These dates and times are subject to change. Any such changes will be
published on the Securities Exchange News Service and in the press.
2. No dematerialisation or rematerialisation of ConFed ordinary shares and
ConFed preference shares will take place after Friday, 17 October 2003.
3. ConFed ordinary shareholders are advised that a further cash distribution
will be made should any cash remain after the winding-up of the Company.
Durban
30 September 2003
Investment bank and sponsor:
NEDBANK CORPORATE
Attorneys:
COX YEATS
Reporting accountants and auditors:
KPMG
Independent advisor:
MARRIOT MERCHANT BANK
Date: 30/09/2003 04:42:36 PM Produced by the JSE SENS Department
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