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Wed 5 Mar 2008
Close: 1 740c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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TiAuto -- finalisation of scheme of arrangement
TiAuto shareholders are advised that the Competition Authorities have, on 13 February 2008, approved the acquisition of TiAuto in terms of the scheme of arrangement proposed by Tiger Automotive Investments (Pty) Ltd, a company controlled by Ethos Private Equity Fund V, between TiAuto and its shareholders. Accordingly, the scheme is now unconditional.
The salient dates regarding the implementation of the scheme are as follows:
- Last day to trade in order to participate in the scheme consideration - Friday, 22 February 2008
- Suspension of listing of TiAuto shares at commencement of trading on Monday, 25 February 2008
- 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 on Friday, 29 February 2008
- Operative date of the scheme at the commencement of trading on Monday, 3 March 2008
- Scheme consideration posted to certificated scheme participants (if documents of title are received on or prior to 12:00 on the scheme consideration record date) on or about Monday, 3 March 2008 *Dematerialised scheme participants` accounts (held at their CSDP or broker) updated on Monday, 3 March 2008
- Termination of listing of TiAuto shares at the commencement of trading on Tuesday, 4 March 2008
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TiAuto -- change to the board
Mr. Martin Barry Glatt has advised the board of his resignation from the position of non-executive director of TiAuto with immediate effective.
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TiAuto -- update on scheme of arrangement
TiAuto shareholders are advised that the High Court of South Africa (Witwatersrand Local Division) sanctioned the scheme of arrangement on 29 January 2008 in terms of section 311 of the Companies Act, 1973, proposed by Main Street 615 (Pty) Ltd, a company controlled by Ethos Private Equity Fund V, between TiAuto and its shareholders. TiAuto shareholders are advised that a notarially certified copy of the Order of Court sanctioning the scheme of arrangement was registered with the Companies and Intellectual Property Registration Office on 30 January 2008. The remaining condition outstanding for the scheme to become effective is the approval of the Competition Authorities, which approval is expected by 13 February 2008. A further announcement will be made once this approval has been received.
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