AMALGAMATED APPLIANCE HOLDINGS LD - Joint Announcement - Fulfilment of the Outstanding Condition Precedent and Finalisation Announcement

Joint Announcement - Fulfilment of the Outstanding Condition Precedent and Finalisation Announcement

Amalgamated Appliance Holdings Limited                  The Bidvest Group Limited
Incorporated in the Republic of South Africa            Incorporated in the Republic of South Africa
(Registration number 1997/004130/06)                    (Registration number 1946/021180/06
Share Code: AMA ISIN: ZAE000012647                      Share Code: BVT ISIN: ZAE000117321
(“AMAP” or “the Company”)                               (“Bidvest”)



JOINT ANNOUNCEMENT - FULFILMENT OF THE OUTSTANDING CONDITION PRECEDENT AND
FINALISATION ANNOUNCEMENT

AMAP and Bidvest shareholders are referred to the announcement published on SENS on 12 April 2013
and in the press on 15 April 2013, regarding the approval at the AMAP shareholders’ meeting, by the
requisite majority of AMAP shareholders present and voting in person or by proxy, of the scheme of
arrangement proposed by the board of AMAP between AMAP and its shareholders (“the Scheme”).

Shareholders are hereby advised that the final condition has been met, namely, approval has been
received from the Competition Commission, and therefore all conditions precedent to the Scheme, as
detailed in the circular issued to AMAP shareholders on 11 March 2013 (“the Circular”) have been
fulfilled and accordingly the Scheme is now unconditional.

In terms of the Scheme, each AMAP shareholder will receive R3.50 in cash for every AMAP share held
(the “Scheme Consideration”).

The salient dates and times relating to the implementation of the Scheme are as follows (note that 
these have changed from those set out in the Circular):


Last day to trade to participate in the Scheme Consideration                      Friday, 21 June 2013

Suspension of listing of AMAP shares on JSE trading system at
commencement of trading                                                           Monday, 24 June 2013

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                                                Friday, 28 June 2013

Scheme implementation date (payment date)                                          Monday, 1 July 2013

Dematerialised scheme participants expected to have their accounts
(held at their CSDP or broker) updated or the Consideration Shares
posted to them on or about                                                         Monday, 1 July 2013

Termination of listing of AMAP shares at the commencement of trading              Tuesday, 2 July 2013


Notes:
a)    All times given in this document are local times in South Africa.
b)    No dematerialisation or re-materialisation of shares may take place from the business day 
      following the Scheme`s last day to trade.

Johannesburg
12 June 2013

Corporate advisor and Sponsor to AMAP: Bridge Capital Advisors (Proprietary) Limited

Legal advisor: Routledge Modise

Independent Expert to AMAP: Mazars Corporate Finance (Proprietary) Limited

Investment Bank, Sponsor and Transaction Advisor to Bidvest: Investec Bank Limited

Legal Advisor to Bidvest: ENS

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