Concor Limited - Update On The Scheme Of Arrangeme
CNC MUR
CNC MUR
Concor Limited - Update On The Scheme Of Arrangement Proposed By
Murray & Roberts Limited
CONCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1969/003076/06)
Share Code: CNC & ISIN: ZAE000001616
("Concor")
MURRAY & ROBERTS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1948/029826/06)
Share Code: MUR ISIN: ZAE000073441
UPDATE ON THE SCHEME OF ARRANGEMENT PROPOSED BY MURRAY & ROBERTS LIMITED
In an announcement dated 24 January 2006, Concor shareholders were advised that
the High Court of South Africa (Witwatersrand Local Division) ("Court") had
conditionally sanctioned the scheme of arrangement in terms of Section 311 of
the Companies Act No. 61 of 1973, as amended, proposed by Murray & Roberts
Limited ("Murray & Roberts"), a wholly-owned subsidiary of Murray & Roberts
Holdings Limited, between Concor and its shareholders, other than Mexican Wave
Investments (Pty) Limited ("Mexican Wave"), in terms of which Murray & Roberts
will acquire all the shares in the issued share capital of Concor, other than
those already held by Mexican Wave ("scheme"). Concor shareholders were further
advised that the sanctioning of the scheme by the Court was conditional upon the
Competition Authorities approving the acquisition by Murray & Roberts of the
entire issued share capital of Concor ("transaction").
Shareholders are informed that the Competition Commission has recommended to the
Competition Tribunal that the transaction be unconditionally approved. The
Competition Tribunal will now consider the matter and Concor shareholders will
be timeously informed of the progress made. This remains the only outstanding
condition precedent pertaining to the scheme.
Johannesburg
15 May 2006
Independent advisor and lead sponsor to Concor: Bridge Capital Services (Pty)
Limited
Legal advisors to Concor: Sonnenberg Hoffmann Galombik
Joint sponsor to Concor: Investec Bank Limited
Financial advisor and lead sponsor to Murray & Roberts: Absa Capital
Joint sponsor to Murray & Roberts: Merrill Lynch
Attorneys to Murray & Roberts: Michael Krawitz & Co. and Werksmans Inc.
Date: 15/05/2006 03:53:19 PM Produced by the JSE SENS Department
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