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Village finalisation announcement
Shareholders of Village ("Village Shareholders") are referred to the announcement released on SENS on 7 April 2015, which detailed the results of the General Meeting, where the resolutions required to approve the Scheme were passed by the requisite majority of Village Shareholders as set out in the circular issued to Village Shareholders on 6 March 2015 regarding the Scheme (“Circular”). Village Shareholders are further referred to the announcement released on SENS on 30 April 2015, which indicated that certain conditions precedent remained outstanding and that Village Shareholders would in due course be notified on the updated Scheme timetable.
Outstanding scheme conditions precedent
Village Shareholders are advised that all conditions precedent to the Scheme, as detailed in the Circular, have been fulfilled or waived and consequently the Scheme is now unconditional. Upon implementation of the Scheme, an application will be made to the relevant authorities for the delisting of all of Village’s shares from the JSE.
Salient dates
- Fulfilment Date of the last of the conditions to the Implementation Agreement: Monday, 11 May
- Last day to trade in Shares in order to be recorded in the Register on the Record Date (Scheme LDT): Friday, 22 May
- Date of suspension of listing of Shares on the JSE : Monday, 25 May
- Record Date on which Shareholders must be recorded in the Register to receive the Scheme Consideration: Friday, 29 May
- Operative Date of the Scheme : Monday, 1 June
- Scheme Consideration posted/paid to Certificated Scheme Participants (provided their Form of Surrender and Transfer (blue) are received on or prior to 12h00 on the Record Date) on or about Monday, 1 June
- Dematerialised Scheme Participants will have their accounts with their Central Securities Depository Participant (“CSDP”) or broker credited with the Scheme Consideration on Monday, 1 June
- Termination of listing of Shares at commencement of trade on the JSE on Tuesday, 2 June.
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