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Afbrick -- finalisation announcement
Shareholders are referred to the announcement published on the SENS on 6 December 2011 regarding the approval at the shareholders' meeting, by the requisite majority of shareholders present and voting in person or by proxy, of the scheme of arrangement proposed by the board of African Brick between African Brick and its shareholders ("the Scheme").
Shareholders are hereby advised that all conditions precedent to the Scheme, as detailed in the circular issued to African Brick shareholders on 8 November 2011 have been fulfilled and accordingly the Scheme is now unconditional.
In terms of the Scheme, each African Brick shareholder is entitled to receive a cash consideration of 4.6 cents for every African Brick share held. The salient dates and times relating to the implementation of the Scheme are as follows:
- Last day to trade in African Brick shares Thursday, 29 December 2011
- Suspension of listing on the JSE of African Brick shares at commencement of trading on Friday, 30 December 2011
- 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, 6 January 2012
- The operative date of the Scheme on Monday, 9 January 2012
- Scheme consideration to be 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, 9 January 2012
- Dematerialised scheme participants to have their accounts held at their CSDP or broker updated on Monday, 9 January 2012
- Termination of listing of African Brick shares at the commencement of trading on Tuesday, 10 January 2012
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