Bidvest - Court Sanction Of Scheme In Respect Of Offer To Bidcorp Plc Minorities
The Bidvest Group Limited
Incorporated in the Republic of South Africa
Registration number 1946/021180/06
Share code: BVT
ISIN: ZAE000050449
(`Bidvest` or `the Company`)
COURT SANCTION OF SCHEME IN RESPECT OF OFFER TO BIDCORP PLC MINORITIES
Shareholders attention is drawn to the announcement made by Bidcorp plc on the
London Stock Exchange in respect of the court sanction of the scheme of
arrangement earlier today.
`29 July 2004
BIDCORP PLC (`Bidcorp` or `the Company`)
COURT SANCTION OF SCHEME
Bidcorp and The Bidvest Group Limited are pleased to announce that, at a hearing
earlier today, the High Court sanctioned the Scheme of Arrangement pursuant to
which Bid Services Division (UK) Limited is to acquire full control of Bidcorp
and confirmed the reduction of capital involved therein. Accordingly, all the
conditions of the Scheme have been satisfied or waived other than the condition
relating to the delivery and registration of an office copy of the Court Order
by the Registrar of Companies.
The Scheme is expected to become effective on 2 August 2004 (in which case, the
last day for dealings in Bidcorp Shares is expected to be 30 July 2004) and,
providing that this is the case, the consideration due under the Scheme will be
paid to those Public Bidcorp Shareholders on the register of members as at 6.00
p.m. on 30 July 2004 by no later than 16 August 2004.
Terms used in this announcement have the same meanings given to them in the
Scheme Document, which was posted to Bidcorp Shareholders on 16 June 2004.`
Sandton
29 July 2004
ENQUIRIES:
Bidvest
David Cleasby (Investor Relations)
Tel: +27 (0) 11 772 8706
Investec Bank Limited
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