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BDEO
BVT
The Bidvest Group Limited - Announcement in respect of Bidvest Options
THE BIDVEST GROUP LIMITED
REGISTRATION NUMBER: 1946/021180/06
("BIDVEST")
BIDVEST CALL OPTIONS
SHARE CODE: BDEO & ISIN ZAE000050431
Shareholders are referred to the scheme of arrangement ("the scheme" proposed by
Dinatla Investment Holdings (Pty) Ltd ("Dinatla) between Bidvest and its members
("the scheme members") which became operative on December 8 2003. In terms of
the scheme, Bidvest granted scheme participants call options, in the form of
Renounceable Letters of Allocation ("RLA") to subscribe for, in the aggregate 18
million Bidvest shares at a price of R60.00 per Bidvest share. Each call option
entitles the holder thereof, by 14h30 on Friday, December 8 2006 ("call option
exercise date") (but not thereafter) to subscribe for one ordinary Bidvest share
at a strike price of R60.00 per Bidvest share. Call options not exercised by the
call option exercise date will lapse.
In order to exercise the call options, the RLA"s must be lodged with the
transfer secretaries by the call option exercise date together with a cheque or
bankers" draft payable to "Link Market Services S A (Pty) Limited Bidvest
issue" and crossed not transferable for the subscription consideration. The
subscription consideration is determined by multiplying the number of call
options exercised by the strike price of R60.00 per call option. Once a call
option has been exercised, it will no longer be possible to trade the RLA"s.
Allocation of the ordinary Bidvest shares to those persons who exercised their
call options by the call option exercise date will take place from the
commencement of business (9.00am) on Monday, December 11 2006.
RLA"s should be lodged at Link Market Services S A (Pty) Limited, 11 Diagonal
Street, Johannesburg 2001, P O Box 4844, Johannesburg, 2000 Gauteng.
Salient dates and times relating to the trade and settlement of the BDEO
securities
2006
Last day to trade BDEO securities in order Friday, December 1
to participate in the BDEO rights
Listing of BDEO securities suspended on the Monday, December 4
JSE from the commencement of business
Record date ("the record date") on which Friday, December 8
BDEO securities holders must be recorded in
the register in order to participate in the
BDEO rights
Last date to exercise rights in respect of 14h30 on Friday,
BDEO securities December 8
Allocation of Bidvest shares to BDEO Monday, December 11
securities holders
Listing of BDEO securities terminated on Tuesday, December 12
the JSE
BDEO securities may not be dematerialised or rematerialised after Friday,
December 1 2006.
The transfer secretaries have advised Bidvest that 1 600 shareholders have not
submitted their original documents as required in terms of the circular
detailing the scheme of arrangement. These shareholders are advised to
surrender these documents as a matter of urgency.
By order of the Board
Johannesburg
November 10 2006
Lead sponsor: Joint sponsor
Investec Bank Limited Deutsche Securities (Pty) Limited
Date: 13/11/2006 07:47:34 AM Produced by the JSE SENS Department
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