| Mon 17 Nov 2003, 17:22 | | Shareholders of Kumba ("shareholders") are advised |
|
Shareholders of Kumba ("shareholders") are advised that on Friday, 14 November
2003, Anglo American plc ("Anglo American"), through its wholly-owned South
African subsidiary, Anglo South Africa Capital (Proprietary) Limited ("ASAC"),
made a mandatory cash offer to shareholders to acquire all of their shares in
Kumba (the "Offer").
2. Terms of the Offer
2.1 The Offer is for a cash consideration of 3 700 cents per Kumba share.
2.2 The timetable for the Offer as stipulated by Anglo American is as follows:
2003
Offer opens at 09:00 Friday, 14 November
Last day to trade to be eligible to Friday, 28 November
participate in the Offer
Kumba shares trade "ex" the Offer Monday, 1 December
Record date to participate in the Offer
at the close Friday, 5 December
of business
Offer closes at 12:00 noon Friday, 5 December
Results of Offer announcement published Monday, 8 December
on SENS
Results of Offer announcement published Tuesday, 9 December
in the press
Notes:
I. Shareholders should note that, as trade in Kumba shares is settled through
the STRATE system, settlement of trades takes place five business days after the
date of the trade. Accordingly, any person who acquires Kumba shares after the
last day to trade, being Friday, 28 November 2003, will not be recorded as a
shareholder by the record date, being Friday, 5 December 2003 and such person
will, therefore, not be eligible to participate in the Offer.
II. ASAC has reserved the right, in its sole and absolute discretion, to
extend the Offer period and, therefore, the closing date, in which event all
amended dates and times relating to the Offer will be published on SENS and in
the Business Day and Beeld, being English and Afrikaans language newspapers
circulating in South Africa.
III. Kumba shares cannot be dematerialised or rematerialised between Monday, 1
December 2003 and Friday, 5 December 2003, both days inclusive. If a shareholder
has dematerialised his Kumba shares and wishes to accept the Offer, he must
notify and instruct his CSDP or broker as the case may be, of his acceptance of
the Offer in the manner stipulated in the agreement governing the relationship
with the CSDP or broker, by the time and date stipulated by the CSDP or broker
and instruct them to deliver electronically the Kumba shares against payment of
the Offer consideration.
3. Recommendation by the Board of Directors of Kumba
As previously stated, the Board of Directors of Kumba (the "Board") is assessing
the terms of the Offer and has appointed JPMorgan as its independent financial
adviser to advise on the Offer as to how it affects all holders of Kumba shares,
including, specifically, minority shareholders of such shares. It is expected
that the substance of such advice and the recommendation of the Board will be
communicated to shareholders by means of an announcement over SENS, by means of
paid press announcements and in a circular which will be posted to shareholders
by no later than 27 November 2003.
Pretoria
17 November 2003
Financial Adviser and Sponsor
JPMorgan
