Wrap Text
BVT - The Bidvest Group Limited - Repurchase of shares from Dinatla
Investment Holdings (Proprietary) Limited
The Bidvest Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
Share code: BVT ISIN ZAE000117321
("Bidvest" or "the Company")
REPURCHASE OF SHARES FROM DINATLA INVESTMENT HOLDINGS (PROPRIETARY) LIMITED
Bidvest shareholders are referred to the announcement dated April 7 2011, in
which they were advised that Bidvest had entered into an agreement ("Share
Buy-Back Agreement") with Dinatla Investment Holdings (Proprietary) Limited
("Dinatla") in terms of which a wholly owned subsidiary of Bidvest, BB
Investment Company (Proprietary) Limited, will acquire ordinary shares in the
issued share capital of Bidvest from Dinatla in terms of the Companies Act,
61 of 1973, as amended, until the general effective date of the Companies
Act, No. 71 of 2008, whereafter in terms of the Companies Act, 71 of 2008, as
amended.
In terms of the Share Buy-Back Agreement, Bidvest will acquire 12 000 000
shares from Dinatla, and in accordance with the pre-emptive provisions of the
Share Buy-Back Agreement Bidvest may acquire a further 14 510 312 shares from
Dinatla; subject to the fulfilment of the remaining outstanding suspensive
condition, namely shareholder approval.
A circular containing details of the repurchases, including, inter alia, a
notice convening a general meeting, was posted to shareholders on April 30
2011. The general meeting is to be held at the registered office of the
Company; Bidvest House, 18 Crescent Drive, Melrose Arch, Melrose,
Johannesburg at 10:00 on Monday, May 23 2011, to consider and, if deemed fit,
to pass, with or without modification, the special and ordinary resolutions
authorising the repurchase of shares from Dinatla.
The salient dates and times in relation to the general meeting are as
follows:
Last day to lodge forms of proxy by 10:00 on Friday, May 20 2011
General meeting to be held at 10:00 on Monday, May 23 2011
Results of the general meeting released on SENS Monday, May 23 2011
Results of the general meeting published in the press Tuesday, May 24 2011
All times indicated above are South African times. Shareholders will be
notified of any amendments to the above dates or times on SENS and in the
press.
Johannesburg
May 3 2011
Corporate Advisor:
Investec Bank Limited
Sponsor:
Investec Bank Limited
Attorneys:
Werksmans
Reporting accountants and auditors:
Deloitte & Touche
Date: 03/05/2011 11:29:01 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.
Sharenet Sites 
