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DAWN - conditions precedent and finalisation
Shareholders are referred to the circular in terms of which shareholders were advised of the terms and conditions of the Offer by the Offeror to acquire all of the issued ordinary shares in DAWN, excluding the excluded shares for an Offer Price of R0.01 per DAWN share, via a scheme of arrangement in terms of sections 114 and 115 of the Companies Act. In addition, shareholders were advised of the proposed delisting of DAWN from the Main Board of the securities exchange operated by the JSE on the occurrence of the Scheme becoming operative.
DAWN shareholders are advised that the Takeover Regulation Panel has issued a Compliance certificate in terms of section 121(b)(i) of the Companies Act, 2008 (Act No. 71 of 2008). No shareholders have exercised their Appraisal Rights in terms of section 164 of the Companies Act. All conditions precedent to the Proposed Transaction have been fulfilled and the Scheme is now unconditional.
The important final dates and times are as follows:
- Finalisation date announcement released on SENS on: Thursday, 7 February 2019
- Finalisation date announcement to be published in the press on: Friday, 8 February 2019
- Expected Scheme LDT, being the last day to trade DAWN shares on the JSE in order to be recorded in the Register to receive the Scheme Consideration, on: Tuesday, 19 February 2019
- Suspension of listing of DAWN shares on the JSE expected to take place at the commencement of trade on: Wednesday, 20 February 2019
- 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 2019
- Implementation date of the Scheme: Monday, 25 February 2019
- Payment and delivery of Scheme Consideration: Monday, 25 February 2019
- Termination of listing of DAWN shares at commencement of trade on the JSE: Tuesday, 26 February 2019
The board and the independent board (to the extent the information relates to DAWN) collectively and individually, accept responsibility for the information contained in this announcement and confirm that, to the best of each member's respective knowledge and belief, the information contained in this announcement is true and does not omit anything likely to affect the importance of such information.
The Offeror (to the extent the information relates to Offeror) accepts responsibility for the information contained in this announcement and confirms that, to the best of its knowledge and belief, the information contained in this announcement is true and does not omit anything likely to affect the importance of such information.
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