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THE BIDVEST GROUP LIMITED - OFFER TO BIDVEST PLC ("Bidplc") MINORITIES

Release Date: 06/08/2004 09:59
Code(s): BDEO BVT
Wrap Text

THE BIDVEST GROUP LIMITED - OFFER TO BIDVEST PLC ("Bidplc") MINORITIES The Bidvest Group Limited Incorporated in the Republic of South Africa Registration number 1946/021180/06 Share code: BVT ISIN: ZAE000050449 ("Bidvest" or "the Company") OFFER TO BIDVEST PLC ("Bidplc") MINORITIES Shareholders" attention is drawn to the announcement issued today on the recommended cash offer made by Bid Foodservice Products Division (IOM) Limited ("BFPD") for the entire issued and to be issued share capital of Bidplc ("the offer") set out below. "6 August 2004 Bid Foodservice Products Division (IOM) Limited ("BFPD") Recommended Cash Offer for Bidvest plc ("Bidplc") POSTING OF COMPULSORY ACQUISITION NOTICE AND DELISTING Following the announcement and the receipt of valid acceptances in respect of more than nine-tenths in value of Bidplc Shares affected by the Offer on 5 April 2004, BFPD declared its offer for the entire issued and to be issued share capital of Bidplc (the "Offer") unconditional in all respects. Since four months have elapsed, Bidplc has today sent to non-assenting Bidplc Shareholders notices implementing the procedures set out in section 154 of the Isle of Man Companies Act 1931 to acquire compulsorily those Bidplc Shares which have not been assented to the Offer. As at 3.00 p.m. (London time) on 5 August 2004, valid acceptances of the Offer had been received in respect of a total of 199,617,582 Bidplc Shares representing, in aggregate, approximately 99.58 per cent. of the current issued share capital of Bidplc. The Offer will remain open for acceptance until further notice and remains subject to the terms set out in the Offer Document. Applications will be made today to the ASX and Luxembourg Stock Exchange for the cancellation of the listing of the Bidplc Shares on the ASX and the Luxembourg Stock Exchange, respectively. The ASX and Luxembourg Stock Exchange will suspend trading 5 business days after receiving the relevant application and will cancel the listing of the Bidplc Shares after a further 3 business days. It is expected that trading will be suspended at close of trading on 13 August 2004 and that the cancellations will take effect at close of trading on 18 August 2004." Sandton 6 August 2004 ENQUIRIES: Bidvest Brian Joffe (Chief Executive) Tel: + 27 (0) 11 772 8704 David Cleasby (Investor Relations) Tel: +27 (0) 11 772 8706 Investec Bank Limited HSBC Bank plc Edward Nathan & Friedland (Pty) Ltd Deutsche Securities SA (Pty) Ltd HSBC Bank plc, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Bidvest and BFPD and no one else in connection with the Offer and will not be responsible to anyone other than Bidvest and BFPD for providing the protections afforded to customers of HSBC Bank plc or for providing advice in relation to the Offer or any other matter referred to in this announcement. Date: 06/08/2004 09:59:06 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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