Maxiprest - Sanctioning of the Scheme of Arrangement
Bridgestone Firestone Maxiprest Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/006456/06)
Share code BDS & ISIN ZAE000027447
(Maxiprest)
SANCTIONING OF THE SCHEME OF ARRANGEMENT
Members are advised that the High Court of South Africa (Witwatersrand Local
Division) has today sanctioned the scheme of arrangement (the scheme) in terms
of Section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended, proposed
by Maxiprest between Maxiprest and its members other than Bridgestone South
Africa Holdings (Proprietary) Limited (Bridgestone South Africa Holdings), in
terms of which Maxiprest will repurchase all of the issued shares of Maxiprest
other than those shares owned by Bridgestone South Africa Holdings, for a cash
consideration of 115 cents per share.
Outstanding Condition Precedent
The only remaining condition precedent to be fulfilled is the registration by
the Registrar of Companies of the Order of Court sanctioning the scheme. The
Order of Court sanctioning the scheme will be lodged with the Registrar of
Companies for registration and it is expected that the Registrar of Companies
will register the Order of Court on or about Thursday, 15 September 2005.
Upon fulfilment of this condition precedent, the scheme will become operative.
Johannesburg
13 September 2005
Corporate advisor to Maxiprest
Deloitte Corporate Finance Division
Deloitte & Touche Chartered Accountants (SA)
Registered Accountants and Auditors
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Attorneys
WERKSMANS INCORPORATED
(Reg. No. 1990/007215/21)
Date: 13/09/2005 03:59:10 PM
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