McCarthy/ Bidvest - Fulfilment Of Condition Precedent
McCarthy Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/003245/06)
Share code: MCC ISIN: ZAE000034823
(McCarthy or the company)
The Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
Share code: BVT ISIN: ZAE000050449
(Bidvest)
FULFILMENT OF CONDITION PRECEDENT
Further to the announcement dated January 26 2004, McCarthy shareholders are
advised that Bidvest has obtained the unconditional approval of the Competition
Authorities for the acquisition by Bidvest of all the McCarthy ordinary shares
for a cash consideration of 36 cents per McCarthy ordinary share (the offer
consideration) from McCarthy shareholders, other than Bidvest, on terms as
detailed in the circular to McCarthy shareholders dated January 26 2004 (the
offer).
Accordingly, as the condition precedent to the offer has been fulfilled, the
offer is now unconditional.
McCarthy shareholders, other than the consortium of banks, are reminded that the
offer consideration will be posted or transferred within five business days of
receipt of the documents of title and the form of acceptance and surrender; or
advice of acceptance of the offer being received from the Central Securities
Depository Participant or broker, as the case may be.
Sandton
February 4 2004
Corporate adviser and lead sponsor to Bidvest
Investec Bank Limited
(Registration number 1969/004763/06)
Lead sponsor to McCarthy
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Corporate law advisers to McCarthy
COX YEATS ATTORNEYS
Joint sponsor to Bidvest
Deutsche Securities
Member of the Deutsche Bank Group
Independent reporting accountants and auditors to McCarthy
DELOITTE
Corporate law advisers to Bidvest
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & Consultants
(Registration number 1999/026464/07)
Transfer secretaries
Ultra Registrars (PTY) Limited
Independent financial adviser and transaction sponsor to McCarthy
NEDBANK CORPORATE
Adviser to the lead bank
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Date: 04/02/2004 03:32:03 PM Produced by the JSE SENS Department
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