Liberty Life/ Capital Alliance -Competition Tribunal Ruling In Relation To The
Proposed Scheme Of Arrangement Between Capital Alliance And Its Shareholders
Liberty Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1957/002788/06)
Share code: LGL
ISIN: ZAE000057360
(`Liberty Life`)
Capital Alliance Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1952/000756/06)
Share code: CPT
ISIN: ZAE000011904
(`Capital Alliance`)
COMPETITION TRIBUNAL RULING IN RELATION TO THE PROPOSED SCHEME OF ARRANGEMENT
BETWEEN CAPITAL ALLIANCE AND ITS SHAREHOLDERS
Shareholders are referred to the previous joint announcements relating to the
scheme of arrangement in terms of section 311 of the Companies Act No. 61 of
1973, as amended, proposed by Liberty Life between Capital Alliance and its
shareholders (`the scheme`), in terms of which Liberty Life will acquire all the
shares in the issued ordinary share capital of Capital Alliance, other than
those already held by Liberty Life, Liberty Active Limited and Capital Alliance
Special Finance (Proprietary) Limited (`scheme shares`).
The Competition Tribunal today unconditionally approved the acquisition of the
scheme shares by Liberty Life pursuant to the scheme.
A further announcement regarding the remaining outstanding regulatory approvals,
including that of the Registrars of Long-term and Short-term Insurance, the
outcome of the application to The High Court of South Africa (Witwatersrand
Local Division) and an update to the salient dates and times relating to the
implementation of the scheme will be published as and when appropriate.
Johannesburg
17 March 2005
Investment bank and transactional sponsor to Liberty Life
Standard Bank
Sponsor to Liberty Life
Merrill Lynch South Africa (Pty) Limited
Attorneys to Liberty Life
Werksmans Incorporated
(Registration number 1990/007215/21)
Investment bank to Capital Alliance
Investec Corporate Finance
Sponsor to Capital Alliance
Investec Bank Limited
Attorneys to Capital Alliance
Jowell Glyn & Marais Inc.
Reporting accountants to Capital Alliance
PricewaterhouseCoopers Inc.
Independent adviser to the Capital Alliance Board
Rand Merchant Bank
A division of FirstRand Bank Limited
Date: 17/03/2005 05:47:53 PM
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