| Wed 18 Aug 2004, 16:32 | | Salient Dates Of The Proposed Scheme Of Arrangeme |
|
Admiral - Salient Dates Of The Proposed Scheme Of Arrangement And Delisting
ADMIRAL LEISURE WORLD LIMITED
(Incorporated in the Republic of South Africa)
JSE code: ADL ISIN: ZAE000010229
(Registration number 1938/011493/06)
(`Admiral` or `the company`)
SALIENT DATES OF THE PROPOSED SCHEME OF ARRANGEMENT AND DELISTING
1. Introduction
In the announcement dated 19 July 2004, shareholders were advised that Austrian
Gaming Industries GmbH, a company incorporated in Austria (`AGI`) had proposed a
scheme of arrangement in terms of Section 311 of the Companies Act, 1973 (Act 61
of 1973), as amended (`the scheme`) between Admiral and its shareholders, apart
from AGI and senior management (`the scheme members`) to acquire all of the
shares held by scheme members for a consideration of 32 cents per share.
2. Scheme meeting
Admiral shareholders are further advised that leave to convene the scheme
meeting has been granted by the High Court of South Africa. The scheme meeting
will be held at 09:00 on Monday, 13 September 2004 at the registered office of
Admiral, 151 Lechwe Street, Corporate Park, Midrand, 1685.
3. Salient dates and times
Set out below are the salient dates of the proposed scheme of arrangement
and delisting:
2004
Last day to trade in order to vote at the Thursday, 2
scheme meeting on September
Record date to vote at the scheme meeting Thursday, 9
on September
Last date in respect of forms of proxy to Friday, 10
be received by 9:00 in respect of the September
scheme meeting on
Scheme meeting to be held at 9:00 on Monday, 13
September
Results of the scheme meeting published on Monday, 13
SENS on September
Results of the scheme meeting published in Tuesday, 14
the newspapers on September
Court hearing to sanction the scheme on Tuesday, 21
September
If the scheme is sanctioned and
implemented:
Results of sanctioning of scheme to be Tuesday, 21
published on SENS on September
Results of sanctioning of scheme to be Wednesday, 22
published in the newspapers and September
registration of Order of Court by the
Registrar of Companies on
Last day to trade for shareholders to be Thursday, 23
eligible to receive the scheme September
consideration on
Suspension of listing of Admiral shares at Monday, 27
commencement of trading on September
Record date on which shareholders must be Friday, 1 October
recorded in the register in order to
receive the scheme consideration by close
of trading on
Operative date and scheme consideration Monday, 4 October
posted to certificated scheme participants
(if documents of title are received on or
prior to the record date) on or about
or, failing receipt of documents of title
on or before the record date, within five
business days of receipt thereof by the
transfer secretaries
Dematerialised scheme participants have Monday, 4 October
their safe custody accounts held at their
Central Securities Depository Participant
(`CSDP`) or broker credited with the scheme
consideration on
Termination of listing of the Admiral Tuesday, 5
shares on the JSE Securities Exchange of October
South Africa (`JSE`) at the commencement of
trade on
Notes:
1. These dates and times are subject to change. Any such
change will be published in the press.
2. If the forms of proxy are not received by the time and
date shown above, they may be handed to the chairperson
of the scheme meeting, no later than 10 minutes before
the commencement of the meeting.
3. Shareholders should note that as Admiral is settling in
the STRATE environment, settlement for trade takes place
5 (five) business days after such trade. Therefore,
shareholders who acquire Admiral shares after Thursday,
2 September 2004 will not be eligible to vote at the
scheme meeting.
4. No dematerialisation or rematerialisation of Admiral
share certificates may take place after Thursday, 23
September 2004.
4. Documentation
A circular incorporating, inter alia, the scheme of arrangement between
Admiral and the scheme members as proposed by AGI and notice of the scheme
meeting has been approved by the JSE and the Securities Regulation Panel and
will be posted to shareholders on 19 August 2004.
Johannesburg
18 August 2004
Sponsor Attorneys
GRANT THORNTON CORPORATE FLUXMANS INC
FINANCE (PROPRIETARY)
LIMITED
Reporting accountants and
auditors
PAPILSKY HURWITZ
Date: 18/08/2004 04:23:07 PM Produced by the JSE SENS Department
