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NAIL -- results of offer to shareholders
NAIL ordinary shareholders and NAIL "N" ordinary shareholders (collectively, "NAIL shareholders") are referred to the announcement to NAIL shareholders released on SENS on 2 November 2012, pertaining to the offer made by Primedia to acquire all of the NAIL ordinary shares and all the NAIL "N" ordinary shares in issue ("NAIL shares"), not already held by it ("offer shares"), ("offer"). The attention of NAIL shareholders is also brought to the circular dated 29 November 2012 which relates to the offer.
Further attention of NAIL shareholders is brought to the announcement and accompanying circular both dated 7 December 2012, which relate to Primedia exercising its rights to compulsorily acquire the remaining offer shares in accordance with the terms of section 124 of the Companies Act 71 of 2008 ("the Companies Act"), as at that date the Offer had been accepted by NAIL shareholders holding at least 90% of the offer shares.
Update and delisting
Primedia is pleased to announce that as at close of business on Friday, 18 January 2013, the closing date of the offer, the offeror had received acceptances from NAIL shareholders in respect of 925 857 NAIL ordinary shares and 4 877 128 NAIL "N" ordinary shares. As a result, Primedia now holds 98.42% of the NAIL ordinary shares in issue, and 99.80% of the NAIL "N" Ordinary Shares in issue.
NAIL shareholders are advised that, as set out in the circular dated 7 December 2012, those NAIL shareholders who had not yet accepted the offer by Primedia to acquire all of their NAIL shares had until close of business on Friday, 18 January 2013 to make an application to the High Court of South Africa ("the Court"), in terms of Section 124(2) of the Companies Act. As at the close of business on 18 January 2013, neither Primedia nor NAIL had been informed of any application to the High Court brought by any NAIL shareholder in terms of Section 124(2) of the Companies Act.
The compulsory acquisition of the remaining shares held by the NAIL shareholders, will take place on Monday, 21 January 2013. The listing of NAIL's shares on the JSE Limited will be terminated with effect from the commencement of trade on Wednesday, 30 January 2013.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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