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Universal fulfilment of conditions & salient dates
Shareholders are referred to the circular to Universal shareholders dated 30 August 2011 (the "circular") and the announcements previously released by Universal on SENS in respect of:
- a scheme of arrangement proposed by Ethos Private Equity Fund V ("Ethos") and certain existing shareholders of the company (identified in the circular and defined therein as the "existing shareholders consortium") (collectively "the offeror") between Universal and its shareholders (other than the existing shareholders consortium) by way of a repurchase by the company of all of the Universal shares held by the Universal shareholders (other than the existing shareholders consortium) on the scheme consideration record date, as defined in the circular, (the "scheme");
- the delisting of the Universal shares from the JSE Ltd (the "JSE");
- the conversion of ordinary shares of par value in the company to ordinary shares of no par value in the company.
Universal shareholders were advised that all of the suspensive conditions to the scheme have been fulfilled as contemplated under the terms of the scheme. The salient dates and times applicable to the scheme are as follows:
- Finalisation date and announcement pertinent to the scheme published in the press on Friday, 14 October 2011
- Last day to trade in Universal shares in order to participate in the scheme consideration on Friday, 21 October 2011
- Suspension of listing of Universal shares at commencement of trading on Monday, 24 October 2011
- Scheme consideration record date, being the date on which Universal shareholders must be recorded in the register to receive the scheme consideration, by close of trading on Friday, 28 October 2011
- Implementation date of the scheme on Monday, 31 October 2011
- Scheme consideration 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, 31 October 2011
- Dematerialised scheme participants accounts (held at their CSDP or broker) credited with the scheme consideration on Monday, 31 October 2011
- Expected termination of listing of Universal shares on the JSE at the commencement of trading on or about Tuesday, 1 November 2011.
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