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TKG BCX
TKG BCX
BCX /Telkom - Delay of salient dates in relation to the BCX Scheme
Business Connexion Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/005282/06)
Share code: BCX & ISIN: ZAE000054631
("BCX")
Telkom SA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/06)
Share code: TKG & ISIN: ZAE000044897
("Telkom")
DELAY OF SALIENT DATES IN RELATION TO THE BCX SCHEME
OUTSTANDING CONDITIONS PRECEDENT TO THE BCX SCHEME
Further to the announcement published on the Securities Exchange News
Service ("SENS") of the JSE Limited ("JSE") on Monday, 12 June 2006 and in
the press on Tuesday, 13 June 2006, BCX shareholders are advised that the
following conditions precedent are not expected to be fulfilled by
Thursday, 10 August 2006, as anticipated in the BCX scheme document issued
on 19 May 2006:
1. the Competition Authorities approving the proposed acquisition of
BCX by Telkom ("proposed acquisition") in terms of the
Competition Act, 1998 (Act 89 of 1998) as amended, either
unconditionally or subject to such conditions as may be
acceptable to Telkom; and
2. a certified copy of the Order of Court sanctioning the scheme
being registered by the Registrar of Companies in terms of the
Companies Act.
As the conditions precedent mentioned above have not yet been fulfilled,
the last day to trade BCX shares on the JSE in order to participate in the
scheme consideration ("last day to trade"), the suspension of the listing
("suspension date"), the record date of the scheme to determine
participation in the scheme and to receive the scheme consideration ("the
record date"), the date when the scheme consideration will be made
available to scheme participants ("operative date") and the date when BCX"s
listing will terminate on the JSE ("de-listing date") have been delayed
accordingly.
Should the conditions precedent be fulfilled, then a further announcement
regarding the dates and times of the last day to trade, the suspension
date, the record date, the operative date and the de-listing date will be
released on SENS and published in the South African press in due course.
10 August 2006
Financial advisor to BCX Financial advisor and sponsor to Telkom
Investec Corporate Finance UBS South Africa (Pty) Limited
Attorneys to BCX and the scheme Attorneys to Telkom
Cliffe Dekker Inc. Werksmans Inc.
Transaction sponsor to BCX
Investec Bank Limited
Sponsor to BCX
RMB
Independent advisor to BCX board of directors
Deloitte & Touche Corporate Finance
Reporting Accountants to BCX
Deloitte & Touche
Date: 10/08/2006 09:54:42 AM Produced by the JSE SENS Department
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