Wrap Text
SAH - South African Coal Mining Holdings Limited - Further extension of
mandatory offer
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")
FURTHER EXTENSION OF MANDATORY OFFER
Shareholders are referred to the announcement released on SENS on 20 December
2010 setting out the revised salient dates of the extended mandatory offer by
JSW Energy Natural Resources South Africa (Pty) Limited ("JSW SA") 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 JSW SA has decided, by agreement with the board of
SACMH and with the consent of the Securities Regulation Panel, in the light of
the fact that many offerees and brokers are still on leave, to extend the
closing date of the offer further until 12:00 on Friday 21 January 2011. All
other terms and conditions of the offer remain unaffected.
The revised salient dates of the offer will therefore be as set out below:
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 Friday, 14 January 2011
event of the suspension of SACMH`s 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 on Friday , 21 January 2011
Record date Friday, 21 January 2011
Results of the offer released on SENS on Monday, 24 January 2011
Results of the offer published in the Tuesday, 25 January 2011
press on
Payment date See note 8 below
Notes:
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 the offer.
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, 14 January 2011 and Friday, 21 January 2011.
4 All times indicated above are South African times.
5 Offerees should note that acceptance of the offer will be irrevocable.
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 transfer secretaries.
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
final settlement, transfer or posting will be on Monday, 24 January 2011
for the period ending at 12:00 on the closing date, Friday, 21 January
2011. 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.
6 January 2011
Johannesburg
Sponsor
Exchange Sponsors
Date: 06/01/2011 12:00:02 Supplied by www.sharenet.co.za
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