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Selco finalisation announcement
SELCo shareholders are referred to the firm intention announcement made by Rural Maintenance (Pty) Ltd. ("Rural Maintenance") on 25 September 2013, as well as to the circular issued to SELCo shareholders on 30 October 2013 ("Circular"), regarding the terms on which Rural Maintenance intended acquiring the entire issued ordinary share capital of SELCo, excluding the ordinary shares held by Resource Management Integration Group Ltd., ("REMIG")("Scheme Shares") by way of a scheme of arrangement in terms of section 114 of the Companies Act 71 of 2008, as amended ("Companies Act"), ("Scheme") ("Proposed Transaction").
Conditions precedent
Shareholders are advised that all the conditions precedent to the Scheme, as detailed in the Circular, have now been fulfilled and that the Scheme is now effective.
Salient dates and times
The remaining salient dates and times relating to the finalisation and implementation of the Scheme ("Timetable") are set out hereunder for shareholders’ information. Words and expressions in the Timetable and notes thereto shall have the same meaning as assigned to them in the Circular.
- Finalisation announcement released on SENS on Tuesday, 17 December
- Last day to trade in SELCo shares in order to be recorded in the register to receive the scheme consideration on Tuesday, 24 December
- Suspension of listing of SELCo shares on the JSE at commencement of trading on Friday, 27 December
- Scheme consideration record date, being the date on which scheme participants must be recorded in the register to receive the scheme consideration, by close of trading on Friday, 3 January
- Operative date of the Scheme on Monday, 6 January
- Scheme consideration paid/posted to certificated scheme participants (if documents of title are received on or prior to 12:00 on the scheme consideration record date) on or about Monday, 6 January
- Dematerialised scheme participants' accounts held at their CSDP or broker credited with the scheme consideration on or about Monday, 6 January
- Termination of listing of SELCo shares on the JSE at the commencement of trading on or about Tuesday, 7 January.
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