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IDI
IDI
Idion Technology Holdings Limited - Distribution to shareholders
IDION TECHNOLOGY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013846/06)
Share code: IDI ISIN: ZAE000022513
("IDION" or "the Company")
DISTRIBUTION TO SHAREHOLDERS
Shareholders are referred to the announcement released on 26 October 2006
regarding the results of the general meeting whereat all the resolutions put
before the meeting were passed. The conditions precedent, as set out in the
disposal agreement, have now been satisfied and the transaction has
accordingly been completed.
The aggregate merger consideration of approximately US$55,7 million (after
settling US transaction costs and payment to Vision optionholders) has been
received from IS Holdings and will be converted to South African Rand at an
average exchange rate of approximately R7,49 per US$. Accordingly, the
distribution to IDION shareholders pro rata to their shareholdings will be
R3,59 per IDION share.
The distribution will be paid out on Monday, 20 November 2006 in accordance
with the timetable outlined in the circular to IDION shareholders (dated 4
October 2006).
If there is a surplus available after taking into account the final
anticipated winding up costs of IDION and any other adjustments, there will be
a further distribution to shareholders.
The Company will be delisted from the JSE with effect from Tuesday, 21
November 2006.
3 November 2006
Corporate advisor and sponsor to IDION
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
Registration number 1970/003711/07
U.S. investment bank to IDION
SVB Alliant
S.A. legal advisor to IDION
Webber Wentzel Bowens
Independent reporting accountants and registered auditors to IDION
Deloitte & Touche
Registered Auditors
U.S. legal advisor to Vision
Paul, Hastings, Janofsky & Walker LLP
U.S. legal advisor to IS Holdings
Kirkland & Ellis LLP
Independent advisor to IDION
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
Registration number 1970/003711/07
S.A. legal advisor to IS Holdings
Deneys Reitz Inc.
1984/003385/21
Date: 03/11/2006 03:02:51 PM Produced by the JSE SENS Department
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