Sasani Limited - Company Information - SRP
Sasani Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000259/06)
Share code: SSA ISIN: ZAE000044384
Provisional Ruling made by the Executive Director of the Securities Regulation
Panel (`the Panel`) in relation to Sasani Limited
Further to the announcements of 6 July 2005, 1 August 2005 and as advised on 17
August 2005, following representation to the Panel, shareholders are advised
that the Panel has made the following provisional ruling:
To the extent that Rule 28.6 still applies to the
scheme of arrangement in terms of Section 311 of the
Companies Act, 1973 (`the offer`) proposed by Amrite
Investments (Pty) Limited (`Amrite`) between Sasani
Limited (`Sasani`) and certain of its shareholders,
the Panel hereby consents to the offer only becoming
unconditional as to acceptances by no later than 31
October 2005.
Messrs P F Ott and Tafelberg Industries Limited
(hereinafter, `the intervenors`) or any Sasani
shareholders shall be entitled to make written
submissions, to be received by the Panel by no later
than 17h00 on Friday, 9 September 2005, as to why the
ruling in 1, above should be reversed.
This provisional ruling shall be notified to the
intervenors by Sasani by no later than 15h00 on
Tuesday, 6 September 2005.
Sasani shall publish this provisional ruling in the
Business Day and The Star newspapers on Wednesday,
7 September 2005.
Should any of the Sasani shareholders wish to make
submission to the Panel regarding the provisions of
this provisional ruling, they shall do so in writing
by not later than 17h00 on Friday, 9 September 2005.
To the extent that no written submissions are made by
any of the interested parties within the time period
stipulated in paragraph 5 of this provisional ruling
this provisional ruling will become final.
In the event that written submissions are made within
the period contemplated in paragraph 5 above, the
matter shall be dealt with as directed by the
Executive Director of the Panel.
7 September 2005
Corporate Adviser and Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Independent Corporate Law adviser to Sasani
Tabacks
Legal advisers to the Consortium
Harty Rushmere
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