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Creditvision/Verimark - Salient dates in respect of mandatory offer
Creditvision Holdings Limited
(formerly Nova Education and Technology Holdings Limited)
(the name of which it is proposed to change to Verimark Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration Number 1998/006957/06)
Share code: CDT ISIN: ZAE000053492
(`Creditvision` or `the company`)
Verimark Holdings (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1998/006800/07)
(`Verimark`)
Salient dates in respect of mandatory offer
1. Creditvision shareholders are referred to the announcement dated 24 June 2005
dealing with the offer by the trustees of the Van Straaten Family Trust and
Prime Rentals Close Corporation (`the sellers`) to the shareholders of
Creditvision to acquire all or part of their Creditvision shares for a cash
consideration of 250 cents per share (`the offer`).
2. The salient dates in respect of the offer are as follows:
2005
Last day to trade in Creditvision shares Friday, 8 July
Creditvision shares trade ex the offer Monday, 11 July
Record date (i.e. last date to be recorded in Friday, 15 July
the register as a Creditvision shareholder) to
participate in the offer (see paragraph 3 below)
Circular posted to shareholders on Friday, 15 July
Offer opens at commencement of trade on Friday, 15 July
Offer closes at 12:00 on (see note 3) Friday, 5 August
Payment of offer consideration to shareholders Monday, 8 August
who accept the offer by no later than (subject
to note 4)
Announcement regarding the results of the offer Monday, 8 August
released on SENS on
Announcement regarding the results of the offer Wednesday, 10 August
published in the press on
Note
1. The above dates and times are subject to amendment. Details of any
such amendment will be released on SENS and published in the press.
2. The Securities Regulation Code on Takeovers and Mergers require that
an offer remain open for at least 21 days.
3. Certificated shareholders who wish to accept the offer must complete
the form of acceptance, surrender and transfer attached in accordance
with the instructions contained therein and return it to the transfer
secretaries so as to be received by no later than 12:00 pm Friday,
5 August 2005.
Dematerialised shareholders are required to notify their Central
Securities Depository Participant or broker of their intention to accept
the offer in the manner and time stipulated in the custody agreement.
4. The Verimark share register will be amended and the offer
consideration posted or transferred, at the risk of the Verimark
shareholder concerned, within 5 business days of:
- receipt of the duly completed form of acceptance, surrender and
transfer by the transfer secretaries (in respect of certificated
shareholders); or
- receipt of the notification to accept from STRATE by the transfer
secretaries (in respect of dematerialised shareholders).
3. The offer will only be open for acceptance by those shareholders recorded in
the register of Creditivision on Friday, 15 July 2005, i.e. before the sellers
and the vendor placees are reflected in the share register of Creditvision as
shareholders, details of which transactions were set out in a circular to
shareholders dated 1 June 2005. Accordingly, vendor placees are not eligible to
participate in the offer and the offer is not made to them.
4. A circular to Verimark shareholders containing full details and the
procedures for acceptance of the offer will be posted to shareholders on
15 July 2005.
Johannesburg
7 July 2005
Joint corporate adviser and Joint corporate adviser and joint
lead sponsor sponsor
- PSG CAPITAL - RIVER SPONSORS -
Reporting Independent adviser Legal advisers
accountants
- KPMG- - PWC CORPORATE FINANCE- - JOWELL GLYN & MARAIS -
Date: 07/07/2005 05:51:38 PM
Produced by the JSE SENS Department
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