| Thu 6 May 2004, 18:14 | | Salient Dates Announcement |
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Financial Holdings Limited - Salient Dates Announcement
Cycad Financial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/008637/06)
JSE Share code: CYD ISIN: ZAE000017729)
("Cycad" or "the company")
SALIENT DATES ANNOUNCEMENT
1. INTRODUCTION
Cycad shareholders are referred to the announcement on the Securities Exchange
News Service ("SENS") and in the press 12 March 2004 that
- discussions regarding inter alia, the delisting of Cycad from the JSE had
been concluded with Cycad"s major shareholders;
- discussions had been concluded with an offeror to support a cash offer to
shareholders who do not wish to remain as shareholders in Cycad after the
delisting;
- an irrevocable commitment had been received from the offeror to fund the
cash offer at 1,5 cents per Cycad share; and
- irrevocable commitments had been received from shareholders representing in
excess of seventy five percent of Cycad"s equity to vote in favour of the
delisting and undertaking not to accept the cash offer.
DOCUMENTATION
A circular relating to the offer and the Cycad delisting will be posted to Cycad
shareholders today, Friday, 7 May 2004. The circular contains, inter alia, a
notice convening a general meeting of Cycad shareholders ("the Cycad general
meeting") at which the resolutions necessary to approve and implement the Cycad
delisting, the cash offer, a specific issue of shares for cash to Mohymon (Pty)
Limited ("the offeror") and a waiver by the Cycad shareholders of a potential
mandatory offer.
SALIENT DATES AND TIMES RELATING TO THE OFFER AND THE CYCAD DELISTING
2004
Date of posting of this circular to Friday, 7 May
Cycad shareholders
Offer opens (09:00) Friday, 7 May
Last day for receipt of form of proxy Friday, 21 May
in respect of the Cycad general
meeting by 09:30
Cycad general meeting (09:30) Monday, 24 May
Announcement of the results of the
Cycad general meeting released on SENS Monday, 24 May
Announcement of the results of the
Cycad general meeting published in the Tuesday, 25 May
press
Last day to trade on the JSE to be
eligible to participate in the offer Friday, 4 June
Cycad shares suspended on the JSE from
commencement of business Monday, 7 June
Closing date of the offer (12:00) - Friday, 11 June
refer to notes 5 and 6 below
Record date (to participate in the Friday, 11 June
offer)
Results of the offer released on SENS Monday, 14 June
Payment of the offer consideration Monday, 14 June
(Refer to note 7)
Results of the offer published in the Tuesday, 15 June
press
Cycad shares delisted from the JSE Tuesday, 15 June
from the commencement of business
Notes:
Any variation of the above dates and times will be advised by notification on
SENS and in the press.
All times given in this circular are local times in South Africa.
Dematerialised shareholders, other than own name dematerialised shareholders
recorded in the register for voting must provide their CSDP or broker with their
instructions for attendance or voting at the Cycad general meeting in the manner
stipulated in the custody agreement governing the relationship between such
shareholders and the CSDP or broker. These instructions must be provided to the
CSDP or broker by the cut-off time and date advised by the CSDP or broker for
instructions of this nature.
Certificated shareholders and own name registered dematerialised shareholders
who are unable to attend the general meeting and wish to be represented thereat,
must complete and return the attached form of proxy (white) in accordance with
the instructions therein, to be received by no later than 09:30 on Friday, 21
May 2004.
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 the
agreement governing the relationship between the shareholder and their CSDP or
broker.
Certificated shareholders are required to complete the attached form of
acceptance (green) in accordance with the instructions therein to be received by
the transfer secretaries by no later than 12:00 on the closing date.
The offer consideration will be posted at the risk of the offer participant
concerned as soon as possible after, but in any event by no later than, five
business days of, in the case of certificated shareholders, receipt of documents
of title and the form of acceptance and surrender, or, for dematerialised
shareholders, advice of acceptance of the offer being received from STRATE and
the fulfilment of the conditions precedent as the case may be, whichever is the
later.
No dematerialisation of Cycad shares will take place after Friday, 4 June 2004.
.
Johannesburg
7 May 2004
Corporate adviser to Cycad
Solcor Capital (Pty) Ltd
Adviser to Cycad shareholders
Imara Corporate Finance South Africa (Pty) Ltd
Sponsor to Cycad
PriceWaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 06/05/2004 05:40:12 PM Produced by the JSE SENS Department
