BTG / CSH - Update On Firm Intention To Make An Of
BTG / CSH - Update On Firm Intention To Make An Offer (`Proposed Offer`)
BYTES TECHNOLOGY GROUP LIMITED CS COMPUTER SERVICES HOLDINGS LIMITED
(Incorporated in the Republic of (Incorporated in the Republic of
South Africa) South Africa)
(Registration number 1911/003874/06) (Registration number 1996/015131/06)
Share code: BTG ISIN: ZAE000029526 Share code: CSH ISIN: ZAE000022034
(`BTG`) (`CSH`)
UPDATE ON FIRM INTENTION TO MAKE AN OFFER (`proposed offer`)
Further to the joint announcements released by BTG and CSH on 16 and 27 August
2004 in relation to the proposed offer, shareholders are further updated as
follows:
- BTG has now received undertakings to accept the proposed offer from CSH
shareholders, including all of the major shareholders in CSH, holding in
excess of 86% of the issued share capital of CSH;
- BTG and CSH have applied to the competition authorities for approval of the
transaction;
- the formal offer document, as required in terms of the Securities
Regulation Code, is being prepared and will be sent to CSH shareholders
shortly; and
- CSH shareholders are reminded that CSH remains under a cautionary
announcement and accordingly, shareholders in CSH are advised to continue
to exercise caution when dealing in their shares until a further
announcement is made.
BTG and CSH shareholders will be advised of further developments as they occur.
Johannesburg
2 September 2004
Financial advisor and joint Legal advisor to BTG Joint sponsor to BTG
sponsor to BTG Werksmans Inc Nedbank Capital
Cazenove
Independent advisor Legal advisor to CSH Sponsor to CSH
Bridge Capital Brink Cohen Le Roux BJM
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