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GMB - Glenrand M I B Limited - Results of court hearing to sanction the scheme

Release Date: 15/03/2011 12:00
Code(s): GMB
Wrap Text

GMB - Glenrand M I B Limited - Results of court hearing to sanction the scheme of arrangement GLENRAND M I B LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/008001/06) Share code GMB ISIN: ZAE000078010 ("Glenrand" or "the company") AON SOUTH AFRICA (PROPRIETARY) LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/004501/07) ("Aon") RESULTS OF COURT HEARING TO SANCTION THE SCHEME OF ARRANGEMENT IN TERMS OF SECTION 311 OF THE COMPANIES ACT, 61 OF 1973, AS AMENDED, AS PROPOSED BY AON BETWEEN GLENRAND AND ITS ORDINARY SHAREHOLDERS ("THE SCHEME") Further to the announcement released by Glenrand on SENS on 1 March 2011 and published in the press on 2 March 2011, shareholders of Glenrand are hereby advised that the scheme was sanctioned by the South Gauteng High Court, Johannesburg on Tuesday, 15 March 2011. It is expected that a certified copy of the Court Order sanctioning the scheme will be registered with the Companies and Intellectual Property Registration Office, Pretoria, on or about Tuesday, 22 March 2011. A further announcement or announcements relating to the fulfilment, or if appropriate, waiver, of the remaining conditions pertaining to the implementation of the scheme and, if applicable, updated important dates and times for implementation of the scheme will be released on SENS and published in the press in due course. Randburg 15 March 2011 Corporate Advisor and Transactional Sponsor to Glenrand Sasfin Capital A division of Sasfin Bank Limited Legal Advisor to Glenrand Deneys Reitz Inc. Independent Financial Advisor to the Glenrand Board PricewaterhouseCoopers Corporate Finance (Proprietary) Limited Sponsor to Glenrand Nedbank Capital Corporate Advisor to Aon Grindrod Bank Limited Legal Advisor to Aon Edward Nathan Sonnenbergs Inc. Financial and Tax Due Diligence Advisor to Aon Deloitte Advisor to the Black Business Partner Shareholders of Glenrand Standard Bank Group Limited
Date: 15/03/2011 12:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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