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Comparex/BCX - Finalisation Announcement
COMPAREX HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1994/002506/06)
Share code: CPX ISIN: ZAE000016812
("Comparex")
BUSINESS CONNEXION GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/005282/06)
Share code: BCX ISIN: ZAE000054631
("BCX")
FINALISATION ANNOUNCEMENT
1. FULFILMENT OF THE REMAINING SUSPENSIVE CONDITION
Further to the announcement published on the Securities Exchange News
Service ("SENS") of the JSE Securities Exchange South Africa ("JSE") on
Friday, 30 April 2004, Investec Bank Limited is authorised to announce that
the remaining suspensive condition to the proposed transactions set out in
a circular ("the circular") to Comparex shareholders, dated 8 April 2004,
has now been fulfilled. The special resolutions set out in the circular
have been registered with the Registrar of Companies.
2. FINALISATION OF THE DISTRIBUTION RATIO AND THE SALIENT DATES
Comparex shareholders will receive 100 cents in cash, by way of a reduction
of Comparex"s share premium account ("the final cash distribution") and one
BCX share ("the distribution in specie") for every Comparex share held at
the close of business on the record date set out in the table below:
2004
Last day to trade on the JSE to be eligible to receive
the final cash distribution and the distribution in specie Friday, 21 May
BCX shares listed from the commencement of business on the
JSE in the "Information Technology - Software and Computer
Services" sector of the JSE lists Monday, 24 May
Comparex shares suspended on the JSE from the commencement
of business Monday, 24 May
Record date to be eligible to receive the final cash
distribution and the distribution in specie Friday, 28 May
BCX share certificates will be posted by registered post
to certificated Comparex shareholders or credited to their
safe custody accounts at their CSDP or broker
in the case of dematerialised Comparex shareholders Monday, 31 May
Final cash distribution paid to Comparex shareholders Monday, 31 May
Comparex shares delisted from the JSE from the commencement
of business Tuesday, 1 June
Comparex share certificates may not be dematerialised or rematerialised
after Friday, 21 May 2004. Comparex shareholders are advised that the final
cash distribution and the distribution in specie must be dealt with in
terms of the Exchange Control Regulations of South Africa as set out in
paragraph 9 of the circular.
13 May 2004
Midrand
Investment bank and lead transactional sponsor
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Attorneys
CLIFFE DEKKER
Sponsor to Comparex
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Reporting accountants
Deloitte & Touche Chartered Accountants (SA)
Registered Accountants and Auditors
Tax advisors to Comparex
Deloitte & Touche Chartered Accountants (SA)
Registered Accountants and Auditors
Date: 13/05/2004 05:49:04 PM Produced by the JSE SENS Department
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