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PGR
PGR
Peregrine - Bee Transaction - Approval Of The Scheme
Peregrine Holdings Limited
(Registration number 1994/006026/06)
JSE code: PGR & ISIN code: ZAE000015152
("Peregrine" or "the company")
BEE TRANSACTION - APPROVAL OF THE SCHEME
FULFILMENT OF CONDITIONS
Peregrine shareholders are referred to the announcement dated 28 September
2006 and are advised that:
* the scheme of arrangement ("the scheme") in terms of which, the BEE
consortium will (subject to the application of rounding principles)
acquire 136 ordinary shares for every 1000 shares held by each scheme
participant on 20 October 2006, as against payment of the scheme
consideration of R7,50 per each scheme share so acquired, was
sanctioned by the High Court of South Africa (Witwatersrand Local
Division) on Tuesday, 10 October 2006; and
* a certified copy of the Order of Court sanctioning the scheme was
registered with the Registrar of Companies in terms of the Companies
Act on Wednesday, 11 October 2006.
All the conditions precedent to the scheme have now been fulfilled.
Accordingly the scheme and the BEE transaction (including those resolutions
approved by shareholders at the general meeting held at 10:00 on Thursday,
28 September 2006) will now be implemented in accordance with the terms
disclosed to shareholders in the circular issued on 6 September 2006 ("the
circular").
IMPLEMENTATION
The operative date of the scheme will be at the commencement of trading on
Monday, 23 October 2006 and in order to receive the scheme consideration
and, where applicable, new certificates on 23 October 2006:
* Peregrine shareholders must be recorded in Peregrine"s register by
close of trading on Friday, 20 October 2006 (the "record date"). No
dematerialisation or rematerialisation of Peregrine shares may take
place after Friday, 13 October 2006 being the last day to trade
Peregrine shares in order to be recorded in Peregrine"s register on
the record date.
* Dematerialised shareholders will have their accounts (held at their
CSDP or broker) updated with the scheme consideration on Monday, 23
October 2006.
* Certificated shareholders must surrender their existing share
certificates by 12:00 on Friday 20 October 2006 on the basis set out
in and accompanied by the forms of surrender contained in the
circular, failing which the scheme consideration (and new
certificates) will be posted within 5 business days after such
surrender.
* Additional copies of the form of surrender and the circular may be
obtained from Computershare Investor Services 2004 (Proprietary)
Limited, Ground Floor, 70 Marshall Street, Johannesburg, 2001.
Rosebank
12 October 2006
Corporate advisor and sponsor to Peregrine
Java Capital (Proprietary) Limited
Attorneys to the scheme
Werksmans Incorporated
Date: 12/10/2006 10:37:06 AM Produced by the JSE SENS Department
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