| Thu 15 Sep 2005, 7:48 | | Sasani Limited - Formal Sanction By The Court Of T |
|
Sasani Limited - Formal Sanction By The Court Of The Scheme Of Arrangement
Sasani Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000259/06)
Share code: SSA ISIN: ZAE000044384
(`Sasani`)
FORMAL SANCTION BY THE COURT OF THE SCHEME OF ARRANGEMENT IN TERMS OF SECTION
311 OF THE COMPANIES ACT, ACT NO. 61 OF 1973, AS AMENDED, PROPOSED BY AMRITE
INVESTMENTS (PROPRIETARY) LIMITED BETWEEN SASANI AND ITS SHAREHOLDERS (OTHER
THAN SASANI MANAGEMENT COMPANY (PROPRIETARY) LIMITED)(`THE SCHEME`)
Further to the announcements of 6 July 2005, 1 and 17 August 2005 and 7 and 9
September 2005, shareholders are advised that the conditional Order of Court
issued by the High Court of South Africa (`the Court`)on 7 September 2005
sanctioning the scheme was made final on Tuesday, 13 September 2005 and the
Registrar of Companies has registered the Order of Court sanctioning the scheme.
As all conditions precedent to the scheme have been fulfilled, the following
dates, as approved by the JSE Limited (`the JSE`) are applicable:
2005
Last day to trade on JSE in shares of Sasani Friday, 23 September
Suspension of listing of shares of Sasani on the JSE Monday, 26 September
from commencement of trading on
Scheme consideration record date Friday, 30 September
Payment of scheme consideration on Monday, 3 October
Termination of listing of shares of Sasani on the JSE Tuesday, 4 October
from commencement of trading on
Settlement of scheme consideration
Holders of dematerialised shares in Sasani
Shareholders owning shares in Sasani in dematerialised form need take no further
action in regard to receiving the scheme consideration due to them. Such
shareholders will have their accounts held at their Central Securities
Depository Participant or broker credited with the scheme consideration,
comprising 207 cents in cash in South Africa Rand for every share held (`scheme
consideration`), on Monday, 3 October 2005.
Holders of certificated shares in Sasani
Shareholders holding certificated shares in Sasani are required to surrender
their share certificates or other documents of title to Sasani shares to
Computershare Investor Services 2004 (Proprietary) Limited (`transfer
secretaries`), Ground Floor, 70 Marshall Street, Johannesburg, 2001 (PO Box
61763, Marshalltown, 2107) in order to claim the scheme consideration. For this
purpose, a form of surrender is contained in the scheme document, which was
posted to shareholders on 8 July 2005. A further copy of the surrender form,
accompanied by this announcement, will be posted to all certificated Sasani
shareholders on or about Thursday, 15 September 2005.
Shareholders who have already surrendered, or who lodge their documents of title
with the transfer secretaries on or prior to Friday, 30 September 2005, will
have the scheme consideration posted to them on or about Monday, 3 October 2005.
Shareholders who surrender their documents of title to the transfer secretaries
after Friday, 30 September 2005 will have the scheme consideration posted to
them within five business days of receipt thereof by the transfer secretaries.
Johannesburg
14 September 2005
Corporate adviser and sponsor to Sasani
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Independent corporate law adviser to Sasani
Tabacks
Legal advisers to the consortium
Harty Rushmere
Date: 15/09/2005 07:29:05 AM
Produced by the JSE SENS Department
