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Litha -- Finalisation announcement
Litha shareholders (“Shareholders”) are referred to (i) the circular issued by Litha on 19 November 2014 ("Circular"); (ii) the announcement published on the Stock Exchange News Service of the JSE Ltd. (“SENS”) on 15 October 2014 relating to, inter alia, the offer by Paladin Labs Inc. (“Paladin”) to acquire the entire issued ordinary share capital of Litha not already owned by Paladin, excluding treasury shares; and (iii) the announcement published on SENS on 18 December 2014 detailing the results of the Scheme Meeting. Unless defined in this announcement, the terms and expressions defined in the Circular apply mutatis mutandis to this announcement.
Shareholders are advised that:
- the Takeover Panel has issued a compliance certificate in terms of section 121(b)(i) of the Companies Act in relation to the Proposed Transaction; and
- all Scheme Conditions Precedent have been fulfilled or waived, as the case may be.
Therefore, the Scheme is now unconditional.
Final salient dates and times
The salient dates and times relating to the implementation of the Scheme are set out below:
- Scheme Finalisation Date: Monday, 19 January
- Scheme finalisation announcement released on SENS: Monday, 19 January
- LDT in Shares in order to be recorded in the Register on the Scheme Record Date 3: Friday, 30 January
- Date for suspension of listing of Shares from the Exchange expected to be at the commencement of trading: Monday, 2 February
- Scheme Record Date on which Shareholders must be recorded in the Register to receive the Scheme Consideration: Friday, 6 February
- Scheme Implementation Date – date of payment of the Scheme Consideration to be paid electronically or posted to Certificated Shareholders (if the Form of Surrender (pink) and Documents of Title are received by the Transfer Secretary on or before 12:00 on the Scheme Record Date): Monday, 9 February
- Dematerialised Shareholders expected to have their accounts held at their CSDP or Broker debited with the Scheme Shares and credited with the Scheme Consideration: Monday, 9 February
- Termination of listing of the Shares from the Exchange at the commencement of trading at 09:00: Tuesday, 10 February
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