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Harware -- fulfilment of outstanding conditions
Hardware Warehouse ordinary shareholders ("Hardware Warehouse Shareholders") are referred to the joint announcement by Hardware Warehouse and Steinhoff Doors and Building Materials Pty Ltd (Steinbuild) of a firm intention by Steinbuild to make an offer to acquire the entire issued share capital of Hardware Warehouse by way of a scheme of arrangement ("Scheme") in terms of section 114 of the Companies Act 71 of 2008, as amended, ("Companies Act"), which was released on SENS on 3 December 2012 and published in the press on 4 December 2012, and to the Hardware Warehouse circular dated 14 December 2012 ("the Circular").
Hardware Warehouse Shareholders are advised that the Takeover Regulation Panel ("Panel") issued a compliance certificate in terms of section 119(4)(b) of the Companies Act in respect of the Scheme on 7 February 2013. Furthermore, shareholders are advised that all outstanding conditions precedents to the Scheme have been fulfilled. Accordingly Hardware Warehouse Shareholders are advised of the salient dates which were set out in the Circular:
- Last day to trade Hardware Warehouse Shares on the JSE in order to be recorded in the Register to receive the Scheme Consideration, on Friday, 15 February 2013
- Suspension of listing of Hardware Warehouse Shares on the JSE expected to take place at the commencement of trade on Monday, 18 February 2013
- Expected 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 trade on Friday, 22 February 2013
- Expected Operative Date of the Scheme on Monday, 25 February 2013
- Scheme Consideration expected to be paid/posted to certificated Scheme Participants (provided their form of acceptance, surrender and transfer and Documents of Title are received on or prior to 12:00 on the Scheme Consideration Record Date) on or about Monday, 25 February 2013
- Dematerialised Scheme Participants expected to have their accounts (held at their CSDP or broker) credited with the Scheme Consideration on or about Monday, 25 February 2013
- Termination of listing of Hardware Warehouse Shares on the JSE expected to take place at the commencement of trade on or about Tuesday, 26 February 2013
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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