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BEG/BEGP2 - Beige Holdings Limited - Hearing before the takeover Special

Release Date: 11/04/2012 17:41
Code(s): BEG BEGP2
Wrap Text

BEG/BEGP2 - Beige Holdings Limited - Hearing before the takeover Special Committee BEIGE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1997/006871/06) ("Beige" or "the Company") ISIN Code: ZAE000034161 Share code: BEG ISIN Code: ZAE000154787 Share code: BEGP2 HEARING BEFORE THE TAKEOVER SPECIAL COMMITTEE Shareholders are referred to the SENS announcement, dated 23 March 2012, advising that The Lion Match Company (Pty) Ltd ("Lion Match") has exercised its right to apply to the Takeover Special Committee ("TSC") for a hearing regarding the ruling by the Executive Director of the Takeover Regulation Panel ("TRP") to the effect that the offer made by Lion Match to the preference shareholders of Beige ("the preference share offer") is not a "comparable offer" as contemplated in terms of the Companies Act, No. 71 of 2008 (as amended) and that in order to be comparable, the offer price for the preference shares must be no less than the see through value of the ordinary shares. The TRP has confirmed that the TSC hearing has been arranged for Thursday, 25 April 2012, commencing at 10:00 at the offices of the TRP, Sunnyside Office Park, 1st Floor Building B, 32 Princess of Wales Terrace, Parktown, Johannesburg. Shareholders are advised that Lion Match has requested a postponement of the date of the hearing due to the number of public holidays during April. Shareholders will be advised of any date changes by way of a further SENS announcement. Shareholders are advised that that they are entitled to attend the hearing and to make representations to the TSC in respect of the preference share offer. Any shareholder wishing to make such representation should note the following process: * 4 (four) paginated copies of the shareholder`s submission are to be delivered to the offices of the TRP (Sunnyside Office Park, 1st Floor Building B, 32 Princess of Wales Terrace, Parktown, Johannesburg), marked for the attention of the chairman of the hearing, Mr N Matlala, by 13 April 2012; * Any shareholder making a submission is to ensure that a copy of the submission is simultaneously delivered to Lion Match and Beige at the addresses set out below: The Lion Match Company (Pty) Beige Holdings Limited Ltd c/o Arcay Moela Sponsors c/o Webber Wentzel Attorneys Arcay House II 10 Fricker Road Number 3 Anerley Road Illovo Boulevard Parktown Johannesburg Johannesburg Johannesburg 11 April 2012 Designated Advisor Arcay Moela Sponsors (Pty) Ltd Date: 11/04/2012 17:41:01 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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