| Wed 26 Apr 2006, 17:00 | | Alex White Holdings Limited - Results Of Scheme Me |
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ALX
ALX
Alex White Holdings Limited - Results Of Scheme Meeting
ALEX WHITE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1949/035016/06)
Share code: ALX & ISIN: ZAE000000386
("Alex White")
RESULTS OF SCHEME MEETING
Shareholders are advised that the scheme of arrangement ("the scheme") in terms
of Section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended, ("the
Act") proposed by Astrapak Limited ("Astrapak") between Alex White and its
shareholders was approved by the requisite majority of scheme members at the
scheme meeting held on Wednesday, 26 April 2006.
The chairperson of the scheme meeting will report the results thereof to the
High Court of South Africa (Witwatersrand Local Division) ("Court") at 10:00, or
so soon thereafter as Counsel may be heard, on Tuesday, 30 May 2006 ("the return
date"). A copy of the chairperson"s report to the Court will be available (free
of charge) to any shareholder at the registered office of Alex White at 22 Yaron
Avenue, Lea Glen, Roodepoort, 1709, and Alex White"s sponsor, Merchant Sponsors
(Proprietary) Limited, Block A, First Floor, Libertas Office Park, 3 Libertas
Road, Bryanston and the transfer secretaries, Computershare Investor Services
2004 (Proprietary) Limited, 70 Marshall Street, Johannesburg, during normal
business hours from Friday, 28 April 2006, but in any event by not later than 7
(seven) calendar days before the return date.
The implementation of the scheme is still subject to, and will only become
operative upon, the fulfilment of the following conditions precedent:
- the approval required from the Competition Commission for the
implementation of the scheme is duly and unconditionally given, provided
that if any such approval is given on a conditional basis Astrapak shall be
entitled to waive, by notice in writing to Alex White, the requirement that
approval is given on an unconditional basis. Upon such written waiver being
given by Astrapak, the condition precedent referred to in this paragraph
shall be deemed to be fulfilled;
- the scheme is sanctioned by the Court; and
- the Registrar of Companies registers a certified copy of the Order of Court
sanctioning the scheme, in terms of the Act.
If the Competition Commission has not yet granted such approval by the return
date, then the scheme may be conditionally sanctioned by the Court subject to
such condition being timeously met, or the application for the sanctioning of
the scheme may be postponed until approval from the Competition Commission has
been obtained or not.
The salient dates and times contained in the announcement issued on 30 March
2006 and in the circular remain unchanged. A further announcement regarding the
fulfilment of the conditions precedent, the outcome of the application to Court
and any update to the salient dates relating to the implementation of the scheme
will be released on SENS and published in the press on or about Tuesday, 30 May
2006.
Johannesburg
26 April 2006
Sponsor to Alex White
Merchant Sponsors (Proprietary) Limited
Corporate law advisers to Alex White
Edward Nathan (Proprietary) Limited
Date: 26/04/2006 05:00:06 PM Produced by the JSE SENS Department
