Ellerines/ Relyant - Results Of The Offer By Ellerines To The Shareholders Of
Relyant
Ellerine Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/013402/06)
Share Code: ELH
ISIN: ZAE000022752
(`Ellerines`)
Relyant Retail Limited
Incorporated in the Republic of South Africa
(Registration number 1937/010108/06)
Share Code: RLY
ISIN: ZAE000016457
(`Relyant`)
RESULTS OF THE OFFER BY ELLERINES TO THE SHAREHOLDERS OF RELYANT
Shareholders of Ellerines and Relyant are advised that the offer by Ellerines to
acquire the entire issued share capital of Relyant from the Relyant shareholders
(the `Offer`) has been accepted by Relyant shareholders in respect of 99.8% of
Relyant`s entire issued share capital.
Ellerines will invoke the provisions of section 440K of the Companies Act, No.
61 of 1973 (the `Companies Act`), to compulsorily acquire those Relyant shares
not tendered in terms of the Offer on the same terms and conditions as set out
in the offer document sent to shareholders on 8 April 2005. In this regard, a
circular to the remaining Relyant shareholders incorporating a notice of
compulsory acquisition in terms of section 440K(1)(a) of the Companies Act will
be posted in due course.
The Relyant shares will be suspended at the commencement of business on
Thursday, 5 May 2005. It is expected that the Relyant shares will be delisted
from the JSE at the commencement of business on Monday 20 June 2005
(notwithstanding that the expected delisting date set out in the circular dated
3 May 2005 was 14 June 2005).
Johannesburg
4 May 2005
Financial advisor to Ellerines
Andisa Capital
Legal advisor to Ellerines
Cliffe Dekker
Sponsor to Ellerines
Nedbank Capital
Independent advisor to Relyant
Java Capital
Legal advisor to Relyant
Sonnenberg Hoffman Galombik
Sponsor to Relyant
Investec Bank Limited
Independent transaction advisor
Morgan Stanley
Date: 04/05/2005 01:16:13 PM
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