Grintek - Sanctioning Of The Scheme Of Arrangement
Grintek Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000013/06)
Share code: GNK
ISIN: ZAE000003067
(`Grintek`)
SAAB South Africa (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/015031/07)
(`SAAB SA`)
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Further to the announcements dated 19 April 2005 and 25 April 2005, Grintek
shareholders are advised that the scheme of arrangement (`the scheme`) in terms
of section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended (`the
Act`), as proposed by SAAB SA, a wholly-owned subsidiary of SAAB AB, between
Grintek and its shareholders (`Grintek minority shareholders`) other than SAAB
AB, SAAB SA, Kunene Finance Company (Proprietary) Limited and Kunene Technology
Investments (Proprietary) Limited was sanctioned by the High Court of South
Africa (Transvaal Provincial Division) on Wednesday, 4 May 2005.
The remaining condition precedent is that a certified copy of the Order of the
Court sanctioning the scheme be registered by the Registrar of Companies
(`Registrar`) in terms of the Act. It is expected that a certified copy of the
Order of Court will be lodged and registered with the Registrar on Friday, 6 May
2005 and that the scheme will be implemented in accordance with the dates set
out below.
2005
Last day to trade in Grintek shares in order to be Friday, 6 May
recorded on the register on the record date for the
scheme
Date on which the Grintek shares will be suspended Monday, 9 May
from the commencement of trade on
The record date for the scheme Friday, 13 May
Operative date of the scheme Monday, 16 May
Date from which the consideration will be made Monday, 16 May
available to scheme participants
Date on which the listing of Grintek shares will be Tuesday, 17 May
terminated from the commencement of trade on
No dematerialisation or rematerialisation of Grintek share certificates will
take place after Friday, 6 May 2005.
Centurion
4 May 2005
Investment bank and corporate advisor to SAAB SA
Nedbank Capital, a division of Nedbank Limited
Corporate law advisor to SAAB SA
Edward Nathan (Pty) Ltd
Independent advisor and sponsor to Grintek
Investec Bank Limited
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
