VenFin Limited / Newco - Sale Of Surplus Assets Ag
VNF
VNF
VenFin Limited / Newco - Sale Of Surplus Assets Agreement Implemented
VenFin Limited
(Incorporated in the Republic of South Africa)
(Registration number 1948/031037/06)
Share code VNF ISIN: ZAE000026498
("VenFin")
Business Venture Investments No. 951 Limited
(Incorporated in the Republic of South Africa)
(Registration number 2004/034954/06)
("Newco")
SALE OF SURPLUS ASSETS AGREEMENT IMPLEMENTED
Shareholders of VenFin are referred to the firm intention announcement dated
1 December 2005 and the offer document posted to VenFin shareholders on
5 December 2005 wherein shareholders were, inter alia, advised that VenFin will,
subject to certain conditions precedent, dispose of all the assets of VenFin
save for VenFin"s indirect interest in Vodacom Group (Proprietary) Limited
("Vodacom") ("the Disposal").
Shareholders are advised that the Disposal was implemented today,
2 February 2006. Consequently VenFin"s only remaining assets are its indirect
interest in Vodacom and R5 billion in cash, being the purchase consideration in
terms of the Disposal.
Shareholders are reminded that only VenFin shareholders that accept the offer by
Vodafone Holdings (SA) (Proprietary) Limited for their VenFin shares ("the
Offer") will be eligible to participate in the Newco subscription offer. The
closing date for the Newco subscription offer is 15 business days after the
closing date of the Offer.
Stellenbosch
2 February 2006
Merchant bank and sponsor to VenFin
Rand Merchant Bank (A division of FirstRand Bank Limited)
Attorneys to VenFin
Hofmeyr Herbstein & Gihwala Inc
Independent Adviser to VenFin
Standard Bank
Independent reporting accountants
PricewaterhouseCoopers Inc
Lead sponsor to VenFin
PricewaterhouseCoopers Corporate Finance
Debt underwriter to Newco
Rand Merchant Bank (A division of FirstRand Bank Limited)
Attorneys to RMB
Sonnenberg Hoffmann Galombik
Date: 02/02/2006 04:49:18 PM Produced by the JSE SENS Department
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