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McCarthy/ Bidvest - Fulfilment Of Condition Precedent

Release Date: 04/02/2004 15:32
Code(s): BDEO MCC BVT
Wrap Text

McCarthy/ Bidvest - Fulfilment Of Condition Precedent McCarthy Limited (Incorporated in the Republic of South Africa) (Registration number 1991/003245/06) Share code: MCC ISIN: ZAE000034823 ("McCarthy" or "the company") The Bidvest Group Limited (Incorporated in the Republic of South Africa) (Registration number 1946/021180/06) Share code: BVT ISIN: ZAE000050449 ("Bidvest") FULFILMENT OF CONDITION PRECEDENT Further to the announcement dated January 26 2004, McCarthy shareholders are advised that Bidvest has obtained the unconditional approval of the Competition Authorities for the acquisition by Bidvest of all the McCarthy ordinary shares for a cash consideration of 36 cents per McCarthy ordinary share ("the offer consideration") from McCarthy shareholders, other than Bidvest, on terms as detailed in the circular to McCarthy shareholders dated January 26 2004 ("the offer"). Accordingly, as the condition precedent to the offer has been fulfilled, the offer is now unconditional. McCarthy shareholders, other than the consortium of banks, are reminded that the offer consideration will be posted or transferred within five business days of receipt of the documents of title and the form of acceptance and surrender; or advice of acceptance of the offer being received from the Central Securities Depository Participant or broker, as the case may be. Sandton February 4 2004 Corporate adviser and lead sponsor to Bidvest Investec Bank Limited (Registration number 1969/004763/06) Lead sponsor to McCarthy Rand Merchant Bank Corporate Finance A Division of FirstRand Bank Limited Corporate law advisers to McCarthy COX YEATS ATTORNEYS Joint sponsor to Bidvest Deutsche Securities Member of the Deutsche Bank Group Independent reporting accountants and auditors to McCarthy DELOITTE Corporate law advisers to Bidvest Edward Nathan & Friedland (Pty) Ltd Corporate Law advisers & Consultants (Registration number 1999/026464/07) Transfer secretaries Ultra Registrars (PTY) Limited Independent financial adviser and transaction sponsor to McCarthy NEDBANK CORPORATE Adviser to the lead bank Rand Merchant Bank Corporate Finance A Division of FirstRand Bank Limited Date: 04/02/2004 03:32:03 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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