| Wed 21 Jun 2006, 16:15 | | Prism Holdings Limited - Implementation of the Sch |
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PIM
PIM
Prism Holdings Limited - Implementation of the Scheme
Prism Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1998/018949/06
Share code: PIM
ISIN: ZAE000022257
("Prism")
IMPLEMENTATION OF THE SCHEME
APPROVAL OF THE SCHEME
Shareholders are referred to the announcement published on the Securities
Exchange News Service of the JSE Limited on 13 June 2006 and in the press on 14
June 2006, and are advised that:
- the scheme of arrangement proposed by Net1 Applied Technologies South
Africa Limited ("Net1") between Prism and its shareholders ("the scheme"),
was sanctioned by the High Court of South Africa (Witwatersrand Local
Division) on Tuesday, 20 June 2006; and
- a certified copy of the Order of Court sanctioning the scheme was
registered by the Registrar of Companies, Pretoria in terms of the
Companies Act 1973 (Act 61 of 1973) as amended, on Wednesday, 21 June 2006,
- and that, accordingly, all the conditions precedent to which the scheme is
subject have been fulfilled.
IMPLEMENTATION OF THE SCHEME
The record date on which Prism shareholders must be recorded in Prism"s share
register in order to receive the scheme consideration of R1.16 per Prism share
("the scheme consideration") will be by close of trading on Friday, 30 June
2006. Share certificates may not be dematerialised or rematerialised after
Friday, 23 June 2006.
Accordingly, the operative date of the scheme will be at the commencement of
trading on Monday, 3 July 2006.
The scheme consideration will be posted, on the operative date, to those Prism
shareholders who are registered as such on the record date, except in the case
of Prism shareholders who are certificated shareholders, in which case the
scheme consideration will only be posted against receipt by the transfer
secretaries, Ultra Registrars (Proprietary) Limited, of the form of surrender,
along with the relevant document(s) of title in respect of such shares.
FORM OF SURRENDER
A form of surrender was included in the scheme document to Prism shareholders
dated 13 April 2006.
Additional copies of the form of surrender and the scheme document may be
obtained from Ultra Registrars (Proprietary) Limited, 5th Floor, 11 Diagonal
Street, Johannesburg, 2001.
Fourways
21 June 2006
Corporate advisor, legal advisor and transaction sponsor to Prism
Java Capital (Proprietary) Limited
Sponsor to Prism
Standard Bank
Date: 21/06/2006 04:15:17 PM Produced by the JSE SENS Department
