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AMAPS -- finalisation announcement
AMAP and Bidvest shareholders are referred to the announcement published on SENS on 12 April 2013 and in the press on 15 April 2013, regarding the approval at the AMAP shareholders' meeting, by the requisite majority of AMAP shareholders present and voting in person or by proxy, of the scheme of arrangement proposed by the board of AMAP between AMAP and its shareholders (the Scheme). Shareholders are hereby advised that the final condition has been met, namely, approval has been received from the Competition Commission, and therefore all conditions precedent to the Scheme, as detailed in the circular issued to AMAP shareholders on 11 March 2013 (the Circular) have been fulfilled and accordingly the Scheme is now unconditional.
In terms of the Scheme, each AMAP shareholder will receive R3.50 in cash for every AMAP share held (the Scheme Consideration). The salient dates and times relating to the implementation of the Scheme are as follows (note that these have changed from those set out in the Circular):
- Last day to trade to participate in the Scheme Consideration Friday, 21 June 2013
- Suspension of listing of AMAP shares on JSE trading system at commencement of trading Monday, 24 June 2013
- 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 Friday, 28 June 2013
- Scheme implementation date (payment date) Monday, 1 July 2013
- Dematerialised scheme participants expected to have their accounts (held at their CSDP or broker) updated or the Consideration Shares posted to them on or about Monday, 1 July 2013
- Termination of listing of AMAP shares at the commencement of trading Tuesday, 2 July 2013
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