To view the PDF file, sign up for a MySharenet subscription.

NAMPAK - FINAL CAUTIONARY ANNOUNCEMENT

Release Date: 10/12/1999 10:02
Code(s): NPK NPKP NPP1
Wrap Text
NAMPAK LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
REGISTRATION NUMBER 68/08070/06
("NAMPAK")

ON 22 NOVEMBER 1999 IT WAS, INTER ALIA, ANNOUNCED THAT THE OFFER BY NAMPAK HOLDINGS (UK) PLC ("NAMPAK HOLDINGS"), A WHOLLY OWNED SUBSIDIARY OF NAMPAK, TO ACQUIRE THE ENTIRE ISSUED SHARE CAPITAL OF PLYSU PLC ("PLYSU") FOR A
CONSIDERATION OF APPROXIMATELY R970 MILLION HAD BEEN ACCEPTED BY 90,45% OF PLYSU'S SHAREHOLDERS, BUT THAT THE OFFER WAS CONDITIONAL ON THE UK OFFICE OF FAIR TRADING INDICATING THAT IT WAS NOT THE INTENTION OF THE SECRETARY OF STATE FOR TRADE & INDUSTRY TO REFER THE PROPOSED ACQUISITION TO THE COMPETITION COMMISSION IN THE UNITED KINGDOM. THIS CONDITION HAS BEEN FULFILLED.
ACCORDINGLY NAMPAK IS PLEASED TO ANNOUNCE THAT NAMPAK HOLDINGS' OFFER FOR PLYSU HAS BEEN DECLARED UNCONDITIONAL IN ALL RESPECTS, ALL CONDITIONS HAVING BEEN SATISFIED OR WAIVED.
BY 15:00 UK TIME ON 8 DECEMBER 1999 VALID ACCEPTANCES HAD BEEN RECEIVED IN RESPECT OF A TOTAL OF 46 002 993 PLYSU SHARES REPRESENTING APPROXIMATELY 95,33% OF PLYSU'S ISSUED SHARE CAPITAL.
AS NAMPAK HOLDINGS HAS RECEIVED VALID ACCEPTANCES IN RESPECT OF MORE THAN 90% OF PLYSU SHARES TO WHICH THE OFFER RELATES, IT WILL IMPLEMENT THE PROCEDURE SET OUT IN SECTIONS 428 TO 430F OF THE UK COMPANIES ACT TO ACQUIRE COMPULSORILY ALL THE OUTSTANDING PLYSU SHARES IN RESPECT OF WHICH IT HAS NOT RECEIVED ACCEPTANCE OF THE OFFER.
IN DUE COURSE NAMPAK HOLDINGS WILL PROCURE THE CANCELLATION OF THE LISTING OF PLYSU SHARES ON THE LONDON STOCK EXCHANGE. SANDTON 10 DECEMBER 1999 SPONSORING BROKER SG FRANKEL POLLAK SECURITIES (PTY) LTD

Share This Story