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Spescom -- outstanding conditions precedent
Spescom shareholders are referred to the announcement published by Spescom on the Securities Exchange News Service ("SENS") of the JSE Ltd ("JSE") on 30 November 2010 relating to the sanctioning of the scheme of arrangement ("scheme") proposed by Jasco between Spescom and its shareholders by the High Court of South Africa (South Gauteng High Court, Johannesburg).
Shareholders are advised that the outstanding conditions precedent have been fulfilled, namely:
- the Order of Court sanctioning the scheme has been registered by the Companies and Intellectual Property Registration Office in terms of section 311(6)(a) of the Companies Act, and
- the scheme has been approved unconditionally as a merger under the Competition Act, No. 89 of 1998, as amended, by the Competition Authorities.
Shareholders are advised of the following salient dates:
- Last day to trade in order to be recorded in the register on the record date of the scheme Friday, 14 January 2011.
- Date of suspension of Spescom's listing on the JSE (from the commencement of business) Monday, 17 January 2011.
- Record date to determine participation in the scheme Friday, 21 January 2011.
- Operative date of the scheme (from the commencement of business) Monday, 24 January 2011.
- Termination of Spescom's listing on the JSE (from the commencement of business) Tuesday, 25 January 2011.
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