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IFA finalisation announcement
IFA shareholders were referred to the announcement published on SENS on 26 July 2013, regarding the approval at the IFA shareholders' meeting, by the requisite majority of IFA shareholders present and voting in person or by proxy, of the scheme of arrangement proposed by the board of IFA between IFA and its shareholders ("the Scheme").
Shareholders were hereby advised that all the conditions have been fulfilled or waived, and therefore all conditions precedent to the Scheme, as detailed in the circular issued to IFA shareholders on 27 June 2013 ("the Circular") have been fulfilled and accordingly the Scheme is now unconditional.
In terms of the Scheme, each IFA shareholder other than IFA KSCC, will receive 20 cents in cash for every IFA share held (the "Scheme Consideration"):
Important dates and times
- Last day to trade IFA shares on the JSE in order to be recorded in the register to receive the scheme consideration on Friday, 30 August 2013
- Suspension of listing from the Main Board of the securities exchange owned and operated by the JSE of IFA shares at commencement of trading on Monday, 2 September 2013
- Scheme record date, being the time and date on which scheme participants must be recorded in the register to receive the scheme consideration, which is expected to be by 17:00 on Friday, 6 September 2013
- Expected operative date of the scheme on Monday, 9 September 2013
- Scheme consideration expected to be paid/posted to certificated scheme participants (if documents of title are received on or prior to 12:00 on the scheme record date) on or about Monday, 9 September 2013
- Dematerialised scheme participants expected to have their accounts (held at their CSDP or broker) updated on Monday, 9 September 2013
- Termination of listing of IFA shares from the Main Board of the securities exchange owned and operated by the JSE at the commencement of trading on or about Tuesday, 10 September 2013
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