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African Oxygen Limited - Sanctioning Of The Scheme Of Arrangement And

Release Date: 21/06/2005 14:55:14      Code(s): AFX
African Oxygen Limited - Sanctioning Of The Scheme Of Arrangement And           
Finalisation Announcement                                                       
African Oxygen Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1927/000089/06)                                            
JSE share code: AFX  NSX share code: AOX                                        
ISIN: ZAE000030920                                                              
("Afrox" or "the company")                                                      
SANCTIONING OF THE SCHEME OF ARRANGEMENT AND FINALISATION ANNOUNCEMENT          
1. SANCTIONING OF THE SCHEME OF ARRANGEMENT BY THE HIGH COURT OF SOUTH AFRICA   
Further to the announcement published on the Securities Exchange News Service of
the JSE Securities Exchange South Africa on Monday, 6 June 2005 and in the press
on Tuesday, 7 June 2005, Afrox shareholders are advised that the scheme of      
arrangement in terms of section 311 of the Companies Act, 1973 (Act 61 of 1973),
as amended, proposed by Afrox African Investments (Proprietary) Limited, a      
wholly-owned subsidiary of Afrox, between Afrox and its shareholders ("the      
scheme"), was sanctioned by the High Court of South Africa (Witwatersrand Local 
Division) on Tuesday, 21 June 2005. The Order of Court sanctioning the scheme   
will be lodged with the Registrar of Companies for registration. Once such      
registration has been completed, all conditions precedent of the scheme will    
have been met and the scheme will become unconditional.                         
2. SALIENT DATES AND TIMES                                                      
                                                    2005                        
Last day to trade to participate in the        Friday, 24 June             
     scheme                                                                     
     First day to trade in Afrox shares ex-         Monday, 27 June             
     entitlement to the scheme consideration under                              
Afrox"s new ISIN number ZAE000067120                                       
     Record date on which shareholders must be      Friday, 1 July              
     recorded as such in the register of                                        
     shareholders to be scheme participants and so                              
become entitled to receive the scheme                                      
     consideration, at the close of trading on                                  
     Operative date of the scheme                   Monday, 4 July              
     The scheme consideration and new share                                     
certificates expected to be posted to scheme                               
     participants holding certificated shares (if                               
     documents of title are received on or prior    Monday, 4 July              
     to the record date of the scheme) or, failing                              
that, within five business days of the                                     
     receipt of the relevant documents of title by                              
     the transfer secretaries from                                              
     Safe custody accounts to be updated at the     Monday, 4 July              
CSDP or broker in the case of scheme                                       
     participants who have dematerialised their                                 
     Afrox shares                                                               
Note:                                                                           
Shareholders may not dematerialise or rematerialise their existing Afrox shares 
from Friday, 24 June 2005. Dematerialisation and rematerialisation of Afrox     
shares will recommence from Monday, 4 July 2005.                                
Johannesburg                                                                    
21 June 2005                                                                    
Investment bank and transaction sponsor                                         
Standard Bank                                                                   
Attorneys                                                                       
Bowman Gilfillan Inc.                                                           
Reporting accountants and auditors                                              
PricewaterhouseCoopers Inc.                                                     
Sponsor                                                                         
Barnard Jacobs Mellet Corporate Finance                                         
Date: 21/06/2005 02:55:16 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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