Wrap Text
CAE/DYM - Cape Empowerment Trust Limited/Dynamic Cables RSA Limited - Court
Sanction of Scheme of Arrangement
Cape Empowerment Trust Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/014606/06)
("CET")
Share Code: CAE
ISIN: ZAE000016952
Dynamic Cables RSA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/001807/06)
("Dynamic")
Share Code: DYM
ISIN: ZAE000028270
COURT SANCTIONING OF THE SCHEME
REGISTRATION OF SPECIAL RESOLUTIONS
SALIENT DATES IN RESPECT OF IMPLEMENTATION OF SCHEME
Further to the announcement of 26 April 2010 shareholders of CET and Dynamic are
hereby advised that:
- the scheme of arrangement in terms of section 311 of the Companies Act (Act
61 of 1973) as amended ("the scheme") proposed by Dynamic, in terms of
which Dynamic will acquire all the shares in the issued share capital of
CET was sanctioned by the High Court of South Africa (Western Cape High
Court) ("Court") on Friday, 14 May 2010; and
- the special resolutions passed at Dynamic`s general meeting on 26 April
2010 for the increase of Dynamic`s authorised share capital, a specific
repurchase of its shares and the change of its name to Cape Empowerment
Limited has been registered by the Companies and Intellectual Property
Registration Office ("CIPRO").
The sole unfulfilled condition precedent to the scheme is the registration by
CIPRO of the Order of Court sanctioning the scheme, which is expected to be
effected on Monday, 17 May 2010.
IMPORTANT DATES AND TIMES
2010
Registration of Order of Court sanctioning the
scheme by CIPRO Monday,17 May
Last day to trade in the shares under the old
name of "Dynamic Cables RSA Limited"
Friday, 21 May
Last day to trade in order to participate in the
scheme consideration (see note 2 below) Friday, 21 May
Suspension of listing of CET shares at
commencement of trading on Monday, 24 May
List shares under the new name of "Cape
Empowerment Limited" on the JSE under the JSE
Code CAP and ISIN ZAE000145066 and trading
commences on Monday, 24 May
List maximum number of scheme consideration
shares on JSE Monday, 24 May
Last day for CSDPs and brokers to elect to
receive the share consideration on behalf of
dematerialised shareholders Friday, 28 May
(see note 5 below)
Last day for receipt of forms of election and Friday, 28 May
surrender from certificated shareholders in
order to participate in the scheme consideration
Record date for the name change Friday, 28 May
Scheme consideration record date, being the date
on which scheme participants must be recorded in
the CET register to receive the scheme
consideration, by close of trading on
Friday, 28 May
Operative date of the scheme at the commencement
of trading on Monday, 31 May
Scheme consideration paid/new share certificates
reflecting the new name of Cape Empowerment
Limited posted to certificated scheme
participants (if documents of title are received
on the scheme consideration record date)on or Monday, 31 May
about
Dematerialised scheme participants` accounts
(held at their CSDP or broker) updated with the
name change and scheme consideration shares.
Where applicable, on or about Monday, 31 May
New share certificates reflecting the new name
of Cape Empowerment Limited posted to Dynamic
shareholders if existing share certificates
received on or before 12:00 on Friday, 28 May Monday, 31 May
2010 on
(or if received thereafter within 5 business
days of receipt by the transfer secretaries of
existing share certificates)
Termination of listing of CET shares at the
commencement of trading on or about Tuesday, 1 June
Notes:
1. All dates and times may be changed by mutual agreement between CET and
Dynamic and/or may be subject to certain regulatory approvals. Any
change will be published in the press and on SENS.
2. CET shareholders should note that as transactions in ordinary shares
are settled in the electronic settlement system used by Strate,
settlement of trades takes place five business days after such trade.
therefore shareholders who acquire CET shares after Friday, 21 May
2010 will not be eligible for the scheme consideration.
3. CET share certificates may not be dematerialised after Friday, 21 May
2010.
4. Dynamic share certificates reflecting the existing name of the company
may not be dematerialised or rematerialised after Friday, 21 May 2010.
5. Dematerialised CET shareholders should timeously instruct their CSDPs
or brokers if they wish to elect to receive the cash consideration or
the share consideration in accordance with the custody agreements
between them. The last day for CSDPs and brokers to exercise an
election on behalf of dematerialised shareholders is Friday, 28 May
2010. Should a dematerialised shareholder`s CSDP or broker not
timeously exercise an election on behalf of the dematerialised
shareholder, the dematerialised shareholder shall be deemed to have
elected the cash consideration.
Cape Town
14 May 2010
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
Attorneys to Dynamic and attorneys to the scheme
Cliffe Dekker Hofmeyr Inc.
Date: 14/05/2010 11:33:02 Supplied by www.sharenet.co.za
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