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Morvest - finalisation announcement
Shareholders are referred to the joint circular by Morvest and Varachia Investment Group (Pty) Ltd. (“VIG”) to Morvest shareholders, dated 9 June 2015,(“Circular”) regarding VIG’s offer to acquire the entire issued ordinary share capital of Morvest, not already owned by VIG or any party acting in concert with VIG, by way of a scheme of arrangement (“Scheme”). The Scheme was approved by Morvest shareholders on 8 July 2015.
Shareholders are further referred to the conditions precedent to the Scheme (“Scheme Conditions”), as detailed in the Circular, and are hereby advised that all Scheme Conditions have been fulfilled.
As a result of the Scheme becoming unconditional, the company wishes to draw shareholders attention to the following important dates in relation to the implementation of the Scheme. Terms appearing in title case below that are not otherwise defined, bear the meanings assigned to them in the Circular.
- Last day to trade in order to be recorded in the Register on the Scheme Consideration Date -- Friday, 31 July 2015
- Listing of Morvest Shares suspended on the JSE from commencement of trade on Monday, 3 August 2015
- Scheme Consideration Record Date, being the date on which the Scheme Participants must be recorded in the Register in order to receive the Scheme Consideration, to be on Friday, 7 August 2015
- Operative Date of the Scheme on Tuesday, 11 August 2015
- Scheme Consideration to be paid/posted to Certificated Scheme Participants on Tuesday, 11 August 2015
- Dematerialised Scheme Participants to have their accounts (held at their CSDP or Broker) credited with the Scheme Consideration on Tuesday, 11 August 2015
- Termination of listing of Morvest Shares on the JSE at the commencement of trade on the JSE on Wednesday, 12 August 2015
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