Unitrans/ Steinhoff - Results of the mandatory offer
UNITRANS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1967/003403/06)
Share code: UTR ISIN: ZAE000007670
(`Unitrans`)
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/003951/06)
Share code: SHF ISIN: ZAE000016176
(`Steinhoff`)
RESULTS OF THE MANDATORY OFFER
Shareholders are referred to the circular dated 25 February 2005 and the
announcement published on SENS on 25 February 2005 and in the press on 28
February 2005 detailing the terms of the mandatory offer by Steinhoff to the
shareholders of Unitrans (other than Steinhoff Africa Holdings (Proprietary)
Limited) (`the mandatory offer`).
PSG Capital is authorised to announce that shareholders holding 1 050 Unitrans
shares have accepted the mandatory offer.
Shareholders are reminded that the mandatory offer was triggered, in terms of
the Securities Regulation Code on Take-overs and Mergers (`the Code`), by the
acquisition by Steinhoff, as first announced on 2 September 2004, of 34 216 680
Unitrans shares from Murray & Roberts Holdings Limited (`M&R`) at a purchase
price of 2 632 cents per share (`the Steinhoff acquisition`). Accordingly, as
provided for by the Code, the offer price that was payable by Steinhoff in terms
of the mandatory offer was 2 632 cents per share, notwithstanding that the
Unitrans share price at the date of making the mandatory compulsory offer was 3
415 cents and has been substantially higher than the offer price of 2 632 cents
at all times since the Steinhoff acquisition was first announced.
Steinhoff now owns 54 174 514 Unitrans shares, constituting 60,82% of Unitrans`
issued share capital.
Johannesburg
22 March 2005
Sponsor and corporate adviser to Steinhoff Independent adviser to Unitrans
and sponsor to Unitrans
PSG Capiral ANDISA CAPITAL
Date: 22/03/2005 05:16:12 PM
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