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Thu 11 Dec 2008
Close: 84c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Credit U -- sanctioning of scheme of arrangement
Shareholders are referred to the announcement released by Credit U on SENS and the press relating to the scheme of arrangement proposed by Blue Financial Services Ltd between Credit U and its shareholders and which scheme was approved by shareholders in a scheme meeting held on 12 November 2008.
The remaining salient dates applicable to the implementation of the scheme, remain as originally set out in the circular sent to Credit U shareholders on 17 October 2008.
Certificated scheme members who wish to elect to receive cash of 540c per Blue ordinary share in respect of 15.575 of their remaining 22.25 Blue ordinary shares receivable for every 100 Credit U ordinary shares held, should complete Parts A and E of the white form of Election, Surrender and Substitute Offer Acceptance attached to the circular and return it to the transfer secretaries together with their documents of title by no later than 12:00 on Friday, 12 December 2008. Dematerialised scheme members and own name dematerialised scheme members should notify (or should have notified) their CSDP of their election in the manner and by the deadline as stipulated in the custody agreement concluded between them and their CSDP.
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Credit U -- results of the scheme meeting
Shareholders are referred to the announcement released by Credit U on SENS of the JSE Ltd and the press on 17 October 2008 regarding the convening of a scheme meeting, to consider and, if deemed fit, to agree to (with or without modification) a scheme of arrangement. Shareholders are advised that the scheme has been approved by 100% of the votes exercised by scheme members present in person, by proxy or represented at the scheme meeting held on Wednesday, 12 November 2008. Copies of the scheme chairman's report on the scheme meeting will be available on request from the offices of Credit U at Eco Fusion 4, Block B, Witch Hazel Street, Highveld, Centurion; and at the offices of Exchange Sponsors (Pty) Ltd at 44A Boundary Road, Inanda, 2196 during normal business hours from Tuesday, 18 November 2008. The remaining salient dates applicable to the implementation of the scheme, remain as originally set out in the circular sent to Credit U shareholders on 17 October 2008.
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Credit U -- update on scheme of arrangement
Shareholders are referred to the announcements released by Credit U on the SENS of the JSE Limited on 17 September 2008 and 15 October 2008 relating to the scheme of arrangement proposed by Blue Financial Services Ltd ("Blue") between Credit U and its shareholders. Shareholders are advised that the Competition Commission has unconditionally approved the transaction.
The scheme meeting will be held on Wednesday, 12 November 2008, in the boardroom of Credit U at Eco Fusion 4, Block B, Witch Hazel Street, Highveld, Centurion, at 09:30. Shareholders recorded in the share register of Credit U by close of business on Friday, 7 November 2008, will be eligible to vote at the scheme meeting. Certificated shareholders must complete and lodge their forms of proxy with the transfer secretaries by 09:30 on Tuesday, 11 November 2008 or with the chairman of the scheme meeting up to ten minutes before the commencement of the scheme meeting. Dematerialised shareholders must obtain the necessary letters of representation from their CSDP or broker and submit same to the transfer secretaries by 09:30 on Tuesday, 11 November 2008. A circular, containing full details of the scheme, was posted to Credit U shareholders on Friday, 17 October 2008.
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