LIBERTY GROUP LIMITED - SANCTIONING OF THE SCHEME OF ARRANGEMENT
Liberty Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1957/002788/06)
Share code: LGL
ISIN: ZAE000024543
(`Liberty Life`)
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Liberty Life shareholders (`shareholders`) are referred to the announcements
dated 15 July 2004, 10 September 2004, 6 October 2004 and 15 October 2004 and to
the circular to shareholders dated 10 September 2004 (`the Circular`) relating
to Liberty Life`s proposal to facilitate the acquisition of an effective 10%
interest in its South African operations by broad-based black groupings and are
advised that the scheme of arrangement in terms of the Companies Act, 1973 (Act
61 of 1973), as amended, between Liberty Life, Liberty Life`s four wholly-owned
subsidiaries and shareholders (`the scheme`) was sanctioned by the High Court of
South Africa (Witwatersrand Local Division) today, being Tuesday, 26 October
2004.
The remaining condition precedent is that a certified copy of the Order of Court
sanctioning the scheme be registered by the Registrar of Companies
(`Registrar`). It is expected that a certified copy of the Order of Court will
be lodged with the Registrar on Wednesday, 27 October 2004 and registered by the
Registrar on Friday, 29 October 2004.
The scheme will be implemented according to the timetable contained in the
Circular and the announcements dated 10 September 2004 and 15 October 2004.
Shareholders are reminded that the last day to trade to participate in the
scheme will be Friday, 29 October 2004 and the operative date of the scheme will
be Monday, 8 November 2004.
Johannesburg
26 October 2004
Investment bank and sponsor
Standard Bank
Independent financial adviser
JPMorgan
Lead sponsor
Merrill Lynch
Attorneys
Werksmans
Independent reporting accountants
PricewaterhouseCoopers
Date: 26/10/2004 03:25:06 PM
Produced by the JSE SENS Department
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