Sah - South African Coal Mining Holdings - Salient Dates And Times Of Release Date: 26/11/2010 13:01:01 Code(s): SAH
SAH - South African Coal Mining Holdings - Salient dates and times of
mandatory offer; and withdrawal of cautionary announcement
South African Coal Mining Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1994/009012/06
Share code : SAH ISIN : ZAE000102034
("SACMH" or "the company")
* SALIENT DATES AND TIMES OF MANDATORY OFFER; AND
* WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
A Circular with mandatory offer posted and salient dates of offer
Shareholders are referred to the announcement released on SENS on 20 May
2010 that JSW Energy Limited had entered into certain agreements which,
for purposes of the Securities Regulation Code on Take-overs and
Mergers, had triggered a change in control of SACMH. Consequently, JSW
Energy Natural Resources South Africa (Pty) Limited ("JSW SA") was
obliged to make a mandatory offer to all the remaining shareholders of
SACMH at 30 cents per share, plus a possible additional amount per share
to shareholders who accept the offer, under circumstances set out in
paragraph 3.2.3 of the offer document.
Shareholders are advised that the requisite circular containing the
offer document as well as the response by the board of SACMH was posted
to shareholders on Friday, 26 November 2010.
The salient dates of the offer are set out below:
Offer opens at 09:00 on Monday, 29 November
As the listing of the shares is suspended, there
is no last day to trade for shareholders wishing
to accept the offer consideration. However, in
the unlikely event of the suspension of SACMH`s Friday, 17 December
shares on the JSE being lifted prior to the
closing date of the offer, the last day to trade
will be on
Offer closes at 12:00 (assuming no extension of Friday , 24 December
the offer) on
Record date Friday, 24 December
Results of the offer released on SENS on Tuesday, 28 December
Results of the offer published in the press on Wednesday, 29
Payment date See note 8 below
1. Certificated shareholders are required to complete the forms of
acceptance, transfer and surrender in the circular and return them to
the transfer secretaries by no later than 12:00 on the closing date of
2. Any change to the above dates and times will be agreed upon by JSW
SA and SACMH and advised to SACMH shareholders by notification on SENS
and in the South African press.
3. No dematerialisation or re-materialisation of SACMH shares will
take place between Friday, 17 December 2010 and Friday, 24 December
4. All times indicated above are South African times.
5. Offerees should note that acceptance of the offer will be
6. The offer consideration due to dematerialised shareholders will not
be posted to such shareholders but will be transferred, at their risk,
to their accounts with their CSDP or broker where the consideration will
be dealt with in terms of the custody agreements entered into between
such dematerialised shareholders and their CSDP`s or brokers.
7. Cheques in respect of the offer consideration due to certificated
shareholders will be posted, by registered mail, to such shareholders,
at such shareholders` risk, to their addresses reflected in the form of
acceptance, transfer and surrender, or if there is no address on the
said form, to the addresses reflected on the shareholder register.
Alternatively, the offer consideration will be electronically
transferred into a certificated shareholder`s bank account if details of
such account are available to the transfer secretaries and the
certificated shareholder concerned has entered into a mandate with the
8. Acceptances received by the transfer secretaries before 12:00 on
each Friday between the opening date and the closing date, will be
settled, transferred or posted (as the case may be) on the following
Monday. The first settlement, transfer or posting will be on Monday, 6
December 2010 for the period ended at 12:00 on Friday, 3 December 2010.
The final settlement, transfer or posting will be on Tuesday, 28
December 2010 for the period ending at 12:00 on the closing date,
Friday, 24 December 2010. 30 cents per share of the offer consideration
will be paid as set out above. If an additional payment becomes payable
to shareholders who accepted the offer in terms of paragraph 3.2.3 of
the offer, it will be paid not more than 6 business days after both
conditions in paragraph 3.2.3 have been fulfilled.
9. Application will be made to the JSE, as soon as practicably
possible after the conclusion of the offer, to lift the suspension of
SACMH`s shares on the JSE. It should be noted that in terms of the
Listings Requirements a company listed on the main board of the JSE must
use its best endeavours to ensure that it has at least 300 shareholders.
Should SACMH not comply at the conclusion of the offer, the JSE will
probably not lift the suspension of its shares.
B Withdrawal of cautionary announcement
Shareholders are referred to all recent cautionary announcements in
respect of proposals and offers received by the board and are advised
that caution is no longer required to be exercised by shareholders when
dealing in their SACMH securities.
Friday, 26 November 2010
Date: 26/11/2010 13:01:01 Supplied by www.sharenet.co.za
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