CSH/ BTG - COMPETITION TRIBUNAL APPROVAL FOR THE OFFER BY BTG TO ACQUIRE THE
ENTIRE ISSUED SHARE CAPITAL OF CSH
CS COMPUTER SERVICES HOLDINGS LIMITED BYTES TECHNOLOGY GROUP LIMITED
(Incorporated in the Republic of (Incorporated in the Republic of
South Africa) South Africa)
(Registration number 1996/015131/06) (Registration number 1911/003874/06)
Share code: CSH ISIN: ZAE000022034 Share code: BTG ISIN: ZAE000029526
(`CSH`) (`BTG`)
COMPETITION TRIBUNAL APPROVAL FOR THE OFFER BY BTG TO ACQUIRE THE ENTIRE ISSUED
SHARE CAPITAL OF CSH
CSH shareholders are advised that the Competition Tribunal has unconditionally
approved the acquisition by BTG of the entire issued share capital of CSH.
Resultantly, the only outstanding condition precedent (all other conditions
precedent having been fulfilled and / or waived) relating to the offer, which
remains open for acceptance, is the acceptance of the offer by CSH shareholders
holding in aggregate not less than nine-tenths of the issued share capital of
CSH so as to permit BTG to invoke the provisions of section 440K of the
Companies Act No 61 of 1973, as amended (`Section 440k`).
CSH shareholders wishing to accept the offer are now requested to accept
immediately so that on attainment of the 90% acceptances level BTG can:
* invoke the provisions of Section 440k; and
* issue the offer consideration to those CSH shareholders who have accepted the
offer within five business days thereof, as contemplated in the circular to CSH
shareholders dated 8 October 2004.
BTG and CSH urge CSH shareholders to accept the offer.
Mr David Redshaw and Mr Peter Riskowitz of BTG have been appointed to the board
of CSH with immediate effect.
Midrand Sandton
17 November 2004 17 November 2004
Financial advisor and Legal advisor to BTG Joint sponsor to BTG
joint sponsor to BTG
Cazenove Werksmans Nedbank Capital
Independent financial Legal advisor to CSH Sponsor to CSH
advisor to CSH
Bridge Capital Brink Cohen Le Roux BJM
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