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TAL
TAL
TAL - Tiger Automotive Limited - Finalisation of the scheme of arrangement
TIGER AUTOMOTIVE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/042651/06)
Share code: TAL ISIN: ZAE000087482
("TiAuto" or "the company")
FINALISATION OF THE 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 ("the scheme") proposed by Tiger Automotive Investments
(Proprietary) Limited (formerly known as Main Street 615 (Proprietary) Limited)
("the proposer"), 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
Notes:
1 All times given in this announcement are local times in South Africa.
2 TiAuto share certificates may not be dematerialised after Friday, 22 February
2008.
Shareholders are advised that in terms of the interest provisions of the scheme,
they will receive a cash consideration of R17,52103 per TiAuto share on 3 March
2008.
Midrand
14 February 2008
Corporate advisor and Sponsor to TiAuto:
Sasfin Capital
(a division of Sasfin Bank Limited)
Attorneys to TiAuto and attorneys to the scheme
Fluxmans Incorporated
Corporate advisor to the proposer
Hyde Park Capital
Attorneys and tax advisor to the proposer and Ethos Private Equity Fund V
Webber Wentzel Bowens
Sole Mandated Lead Arranger and Underwriter to the transaction
ABSA Capital
Attorneys to ABSA Capital
Edward Nathan Sonnenbergs Inc
Date: 14/02/2008 07:10:01 Produced by the JSE SENS Department.
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