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TRANS HEX / BENCO - RESULTS OF SCHEME MEETING

Release Date: 11/04/2000 14:25
Code(s): TSX BNC
Wrap Text
TRANS HEX GROUP LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1963/007579/06)
("TRANS HEX")
BENGUELA CONCESSIONS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1988/003608/06)
("BENCO")
RESULTS OF SCHEME MEETING

FURTHER TO THE ANNOUNCEMENT DATED TUESDAY, 1 FEBRUARY 2000, SHAREHOLDERS OF BENCO ("BENCO SHAREHOLDERS") ARE ADVISED THAT AT THE SCHEME MEETING HELD ON MONDAY, 10 APRIL 2000, THE SCHEME OF ARRANGEMENT PROPOSED BY TRANS HEX IN TERMS OF SECTION 311 OF THE COMPANIES ACT, 1973 (ACT 61 OF 1973), AS AMENDED, BETWEEN BENCO AND ITS ORDINARY SHAREHOLDERS ("THE SCHEME"), WAS APPROVED BY THE REQUIRED MAJORITY OF BENCO SHAREHOLDERS PRESENT AND VOTING AT THE SCHEME MEETING IN PERSON OR BY PROXY.
THE SCHEME IS SUBJECT TO THE SANCTION OF THE HIGH COURT OF SOUTH AFRICA (CAPE OF GOOD HOPE PROVINCIAL DIVISION) ("THE COURT") AND TO THE ORDER OF COURT BEING LODGED WITH AND REGISTERED BY THE REGISTRAR OF COMPANIES. THE COURT HEARING TO SANCTION THE SCHEME WILL BE HELD AT 10:00 OR AS SOON THEREAFTER AS COUNSEL MAY BE HEARD ON TUESDAY, 18 APRIL 2000 AT THE HIGH COURT BUILDING, KEEROM STREET, CAPE TOWN.
THE SCHEME IS EXPECTED TO BECOME OPERATIVE ON TUESDAY, 25 APRIL 2000. BENCO SHAREHOLDERS ARE REMINDED TO SURRENDER THEIR DOCUMENTS OF TITLE IN TERMS OF THE SCHEME. IF THE SCHEME BECOMES OPERATIVE ON TUESDAY, 25 APRIL 2000, THE SCHEME CONSIDERATION WILL BE POSTED OR MADE AVAILABLE FOR COLLECTION FROM THAT DATE FOR THOSE BENCO SHAREHOLDERS WHO HAVE SURRENDERED THEIR DOCUMENTS OF TITLE ON OR PRIOR TO THAT DATE. FOR THOSE BENCO SHAREHOLDERS WHO SURRENDER THEIR DOCUMENTS OF TITLE AFTER TUESDAY, 25 APRIL 2000, THE SCHEME CONSIDERATION WILL BE POSTED OR MADE AVAILABLE FOR COLLECTION, FIVE BUSINESS DAYS AFTER THE SURRENDER OF THEIR DOCUMENTS OF TITLE IN TERMS OF THE SCHEME. CAPE TOWN 12 APRIL 2000 FINANCIAL ADVISER TO TRANS HEX DEUTSCHE BANK SECURITIES (SA) (PTY) LIMITED (REGISTRATION NUMBER 1995/011798/07) SPONSORING BROKERS TO TRANS HEX IN SOUTH AFRICA DEUTSCHE BANK SECURITIES (PTY) LTD (REGISTRATION NUMBER 1973/006709/07) MEMBER OF THE JOHANNESBURG STOCK EXCHANGE IN NAMIBIA JOLYON IRWIN MEMBER OF THE NSX IJG PTY LTD ATTORNEYS TO TRANS HEX BRINK COHEN LE ROUX & ROODT INC ATTORNEYS (REGISTRATION NUMBER 93/04501/21) INDEPENDENT FINANCIAL ADVISER TO BENCO FLEMINGS ROBERT FLEMING SOUTH AFRICA LIMITED REGISTRATION NUMBER 1995/011812/06 JOINT SPONSORING BROKERS TO BENCO FLEMING MARTIN SECURITIES LTD REGISTRATION NUMBER 1995/011815/06 MEMBER OF THE JOHANNESBURG STOCK EXCHANGE INCENTIVE LOWENTHAL (PTY) LTD (REGISTRATION NUMBER 98/21556/07) ATTORNEYS TO BENCO CLIFFE DEKKER FULLER MOORE INC (REGISTRATION NUMBER 1998/018173/21)

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