SAIL Group Limited - Competition Tribunal Ruling Outstanding
SAIL Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1941/014601/06)
Share code: SIR
ISIN: ZAE000039962
(`SAIL`)
COMPETITION TRIBUNAL RULING OUTSTANDING
1. INTRODUCTION
SAIL shareholders are referred to the previous announcements regarding the offer
by a Consortium to acquire all the SAIL ordinary shares that members of the
Consortium do not already own, by way of a scheme of arrangement in terms of
section 311 of the Companies Act No. 61 of 1973, as amended (`the scheme`), and
are advised that the ruling from the Competition Tribunal has not yet been
received.
SAIL has, as a consequence, been requested by the JSE Securities Exchange South
Africa to inform SAIL shareholders that the last day to trade in order to
participate in the scheme is no longer Friday, 12 November 2004 as previously
announced.
2. FURTHER ANNOUNCEMENTS
An announcement regarding the Court hearing to sanction the scheme will be
released on SENS on Tuesday, 9 November 2004 and published in the press on
Wednesday, 10 November 2004. A further announcement regarding the remaining
salient dates and times in relation to the transaction will be published once
the Competition Tribunal ruling date has been confirmed.
SAIL Group Limited
Midrand
5 November 2004
Investment bank and transaction sponsor
Standard Bank
Legal adviser to the Consortium and attorneys for the scheme
Hofmeyr Herbstein & Gihwala Inc.
Legal advisers to SAIL
Cliffe Dekker
Independent financial adviser to SAIL
Deloitte & Touche
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