MTA - Metair - Disposal and further cautionary ann
MTA
MTA
MTA - Metair - Disposal and further cautionary announcement
METAIR INVESTMENTS LIMITED
(Reg.No. 1948/031013/06)
Share code: MTA & ISIN Code: ZAE000004743
(Incorporated in the Republic of South Africa)
("Metair")
DISPOSAL BY WESCO INVESTMENTS LIMITED ("WESCO") OF ITS SHAREHOLDING IN METAIR
AND FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 9th November 2006 shareholders are
hereby advised that the process embarked upon as mentioned has been successfully
concluded.
Shareholders are referred to the Wesco announcement that was published today, in
terms of which it was announced that Wesco has disposed of its entire interest
in Metair to Coronation Capital Limited ("Corocap") and The Metair Share Trust.
Shareholders are further advised that in addition, Corocap has entered into an
agreement with trusts and companies associated with the Wessels family ("the
Trusts and Companies") in terms of which:
Corocap or its nominee has the right to acquire 651 279 Metair shares ("the
Metair shares") from the Trusts and Companies at a price of R250 per share on or
before 27 February 2007 ("the call option"); and
the Trusts and Companies have the right to sell the Metair shares at R250 per
share to Coronation or its nominee on 28 February 2007 ("the put option").
Should either the call option or the put option be exercised and Corocap fails
to nominate another party to acquire the Metair shares, Corocap will be required
to make a mandatory offer to Metair shareholders in accordance with the rules of
the Securities Regulation Panel at a price of R250 per share. Shareholders are
accordingly advised to continue to exercise caution in trading in their shares
until a further announcement is made.
By order of the board
Johannesburg
12 December 2006
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
(Registration number 2006/033725/07)
Shareholders and other interested parties are invited to join a conference call
with Wesco, Metair and Corocap from 15:30pm to 16:15pm today (12 December 2006).
The dial-in numbers are as follows:
SA Toll +27.11.535.3600
SA Toll Free 0800.200.648
Date: 12/12/2006 08:50:01 Produced by the JSE SENS Department.
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