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DYM
DYM
Dynamic Cables - Notice To Shareholders And Detailed Cautionary
DYNAMIC CABLES RSA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/01807/06)
Share Code DYM
ISIN number ZAE000028270
("Dynamic Cables")
NOTICE TO SHAREHOLDERS AND DETAILED CAUTIONARY ANNOUNCEMENT
1. Introduction
Shareholders of Dynamic Cables are advised that Dynamic Cables has
informed the board of directors of Grand Parade Investments Limited
("GPI"), on 10 November 2006, of its firm intention to make an offer
to all the shareholders of GPI to acquire from them the entire issued
share capital of GPI ("the Offer").
The purpose of this announcement is to inform the shareholders of
Dynamic Cables of the principal terms and conditions of the Offer.
2. Rationale for the Offer
The Offer forms part of Dynamic Cables" strategy as detailed in the
joint announcement by Dynamic Cables and Cape Empowerment Trust
Limited ("CET"), dated 2 November 2006. The announcement, inter alia,
expressed Dynamic Cables" and CET"s plan to restructure Dynamic Cables
to only hold CET"s investments in the gaming industry, and in
particular in GPI.
3. Terms of the Offer
3.1 Subject to the conditions precedent in paragraph 4 below, Dynamic
Cables has offered to acquire all or part of the shares in GPI
for a consideration of 8 ordinary shares in the issued share
capital of Dynamic Cables for every 1 GPI share held. There is
no alternative cash offer.
3.2 All GPI shareholders shall be treated equally and receive equal
consideration in respect of each GPI share in respect of which
the Offer is accepted.
4. Conditions precedent
The Offer shall be subject to the fulfillment or written waiver by
Dynamic Cables (to the extent legally permissible) of the following
conditions:
4.1 receipt of all necessary regulatory approvals and compliance with
all the necessary regulatory requirements for the implementation
of the Offer, including approvals from:
4.1.1. the relevant competition authorities;
4.1.2 the JSE;
4.1.3 the Securities Regulation Panel; and
4.1.4 the relevant gaming authorities.
4.2 any approvals required from shareholders of Dynamic and CET in
terms of the JSE Listings Requirements for the lawful
implementation of the Offer.
5. Further cautionary announcement
Further to the cautionary announcement dated 2 November 2006, and as
Dynamic remains involved in separate and unrelated discussions,
shareholders are advised to continue to exercise caution when dealing
in shares in Dynamic Cables until further announcements are made.
Cape Town
21 November 2006
Corporate Advisor and Sponsor
Sasfin Capital
(a division of Sasfin Bank Ltd)
Legal Advisor
Edward Nathan Sonnenbergs Incorporated
Date: 21/11/2006 01:23:03 PM Produced by the JSE SENS Department
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