| Mon 9 May 2005, 17:08 | | Grintek Limited/ SAAB South Africa (Proprietary) L |
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Grintek Limited/ SAAB South Africa (Proprietary) Limited - Implementation Of The
Scheme Of Arrangement
Grintek Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000013/06)
Share code: GNK ISIN: ZAE 000003067
(`Grintek`)
SAAB South Africa (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2003/015031/07)
(`SAAB SA`)
IMPLEMENTATION OF THE SCHEME OF ARRANGEMENT
Further to the announcements dated Tuesday, 19 April 2005; Monday, 25 April
2005, and Thursday 5 May 2005 Grintek shareholders are advised that all the
conditions precedent attached to the offer have been fulfilled.
Accordingly, the scheme of arrangement (`the scheme`) in terms of section 311 of
the Companies Act, 1973 (Act 61 of 1973), as amended, has become unconditional
in all respects and will become operative on Monday, 16 May 2005.
The remaining salient dates and times pertaining to the scheme are set out
below:
2005
Grintek shares will be suspended from the Monday, 9 May
commencement of trade on the JSE Securities Exchange
South Africa (`JSE`) as of
The record date for the scheme Friday, 13 May
Operative date of the scheme (`the operative date`) 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 the
JSE, on
Dematerialised scheme participants need not take any action regarding the
surrender of their documents of title once the scheme becomes operative as the
process will be handled by the Central Securities Depository Participant
(`CSDP`) or broker in terms of the custody agreement entered into between the
scheme participant and his CSDP or broker.
Certificated shareholders should note the following:
Surrender of documents of title
Certificated shareholders, who have not already done so, should surrender their
documents of title as soon as possible to Computershare Investor Services 2004
(Pty) Ltd, 70 Marshall Street, Johannesburg, 2001 (PO Box 61763, Marshalltown,
2107) (`the transfer secretaries`).
A form of surrender and transfer (green) was attached to the scheme circular,
dated 1 April 2005, distributed to Grintek shareholders, copies of which are
available at the registered offices of Grintek (44 Oak Avenue, Highveld
Technopark, Centurion, 0046), Nedbank Capital, a division of Nedbank Limited
(3rd Floor, Corporate Place, 135 Rivonia Road, Sandton), and the transfer
secretaries during normal business hours.
Scheme consideration
In terms of the scheme, certificated scheme participants are entitled to receive
the consideration on the operative date.
The consideration due to certificated scheme participants will be posted to such
certificated scheme participant, at the risk of such scheme participant, to his
address as reflected in the form of surrender, or if there is no address
indicated on the form of surrender, to the address reflected on the register of
members of Grintek, by the transfer secretaries on behalf of Grintek. This will
take place within five business days of the operative date if the form of
surrender together with the relevant documents of title to such scheme
participants` certificated shares were surrendered before 17:00 on Friday, 13
May 2005 or within five business days of receipt thereof by the transfer
secretaries, whichever is the later.
The scheme consideration will not be sent to certificated scheme participants
unless and until documents of title in respect of all of their certificated
Grintek shares have been surrendered to the transfer secretaries.
Centurion
9 May 2005
Investment bank and Corporate law Independent advisor
corporate advisor to advisor to SAAB SA and sponsor to Grintek
SAAB SA
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Nedbank Capital, a Edward Nathan (Pty) Investec Bank Limited
division of Nedbank Ltd
Limited
Date: 09/05/2005 05:02:02 PM
Produced by the JSE SENS Department
