Posting of Circular and a Notice Convening the General Meeting
JD GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1981/009108/06)
JSE share code: JDG ISIN: ZAE000030771
POSTING OF CIRCULAR AND A NOTICE CONVENING THE GENERAL MEETING
JD Group shareholders (“JD Group Shareholders”) are referred to the joint firm intention announcement
released by Steinhoff International Holdings Limited (“Steinhoff”) and JD Group on the stock exchange
news service (“SENS”) operated by the JSE Limited (“JSE”) on 21 April 2015 in which Steinhoff announced
its firm intention to acquire the remaining issued share capital of JD Group that it does not already own
(“Remaining Shares”) by way of a scheme of arrangement (“Scheme”) or a substitute offer to the holders
of Remaining Shares (“Remaining Shareholders”) (“Substitute Offer”), accompanied by a de-listing of JD
Group (“Combined Scheme and Offer Proposal”).
JD Group Shareholders are hereby advised that a circular (“Circular”) containing, inter alia, details of the
Combined Scheme and Offer Proposal, a notice convening the general meeting (“General Meeting”), a form
of proxy, a form of surrender and transfer and a Substitute Offer form, has been posted to JD Group
Shareholders today, 14 May 2015.
2. NOTICE CONVENING THE GENERAL MEETING
The General Meeting of JD Group Shareholders will be held at 10h00 on Friday, 12 June 2015, in the ID
Sussman Auditorium on the Ground Floor at JD House, 27 Stiemens Street, Braamfontein, Johannesburg
to consider and, if deemed fit, pass, with or without modification, the special resolution to implement the
Scheme (“Special Resolution”) and the ordinary resolution to delist JD Group from the JSE.
The important dates and times in relation to the General Meeting are set out below:
Record date to determine which JD Group Shareholders are entitled to receive the Circular Friday, 8 May
Posting of the Circular to JD Group Shareholders and notice convening General Meeting Thursday, 14 May
released on SENS on
Notice convening General Meeting published in the South African press on Friday, 15 May
Voting last day to trade, being the last day to trade in JD Group ordinary shares in order to Friday, 29 May
be recorded in the JD Group share register (“Register”) to vote at the General Meeting
(see note 4 below) on
Voting record date, being the date on which a JD Group Shareholder must be recorded in Friday, 5 June
the Register in order to be eligible to attend and participate in the General Meeting and to
vote thereat on
Form of proxy in respect of the General Meeting to be lodged for administrative purposes, Wednesday, 10 June
by 10h00 on
Last date and time for JD Group Shareholders to give notice to JD Group objecting to the Friday, 12 June
General Meeting to be held at 10h00 on
General Meeting held at 10h00 on Friday, 12 June
Results of the General Meeting published on SENS on Friday, 12 June
Timetable if the Scheme is approved by the Remaining Shareholders
Last day for Remaining Shareholders who voted against the Scheme to require JD Group Monday, 22 June
to seek court approval for the Scheme in terms of section 115(3)(a) of the Companies Act
2008, (Act No. 71 of 2008) as amended (“Companies Act”) on
Last day to send the notice of adoption of the Special Resolution to dissenting Monday, 29 June
shareholders, in accordance with section 164 of the Companies Act on
Last day for a Remaining Shareholder who voted against the Scheme to apply to court for Monday, 29 June
leave to apply for a review of the Scheme in terms of section 115(3)(b) of the Companies
Last day for dissenting shareholders to demand that JD Group acquire their shares at fair Monday, 27 July
value, in accordance with section 164 of the Companies Act (assuming that the notice of
adoption of the Scheme Resolution is received by a dissenting shareholder on Monday 29
June 2015) on
The following dates assume that no court approval or review of the Scheme is required and will be confirmed in the
finalisation announcement if the Scheme becomes unconditional
Receive compliance certificate from the Take-over Regulation Panel (“TRP”) on Tuesday, 30 June
Finalisation announcement published on SENS on Tuesday, 30 June
Application for the delisting of JD Group ordinary shares lodged with the JSE on Thursday, 2 July
Expected last day to trade in JD Group ordinary shares in order to be recorded in the Friday, 10 July
Register on the record date (Scheme last day to trade) on
Expected date of the suspension of the listing of the JD Group ordinary shares on the JSE Monday, 13 July
Expected Scheme record date, being the date on which Remaining Shareholders must be Friday, 17 July
recorded in the Register to receive the consideration in terms of the Scheme on
Expected implementation date of the Scheme - payment of the consideration in terms of Monday, 20 July
the Scheme and transfer of the Shares held by Remaining Shareholders on
Expected termination of the listing of JD Group ordinary shares at commencement of trade Tuesday, 21 July
on the JSE on
Timetable if the Scheme is not approved by the Remaining Shareholders
If the Scheme Resolution is not passed by the requisite majority of the Remaining Shareholders and the
Scheme does not become operative, but the resolution to delist JD Group is passed by the requisite
majority of the Remaining Shareholders, then the Substitute Offer will, subject to the fulfilment or waiver,
as the case may be, of the other conditions precedent to which it is subject, become effective immediately
thereafter. The following dates in respect of the Substitute Offer will be confirmed in an announcement
after the General Meeting:
Results of General Meeting released on SENS on Friday, 12 June
Expected date of opening of Substitute Offer (opening date) on Friday, 12 June
Finalisation announcement published on SENS on Tuesday, 30 June
Expected last day to trade to take up the Substitute Offer on Friday, 10 July
Expected date of the suspension of the listing of JD Group ordinary shares on the JSE on Monday, 13 July
Expected substitute offer record date on Friday, 17 July
Expected Substitute Offer closing date at 12h00 on Friday, 17 July
Expected offer payment date on Monday, 20 July
Expected termination of the listing of the JD Group ordinary shares at commencement of Tuesday, 21 July
trade on the JSE on
1. All dates and times are subject to change by agreement between JD Group and Steinhoff and the approval(s) of the JSE
and TRP, as the case may be, and may be subject to certain regulatory approvals being granted. Any change will be
released on SENS.
2. Although the salient dates and times are subject to change, such statement may not be regarded as consent or
dispensation for any change to the time period which may be required in terms of the Takeover Regulations issued in
terms of section 120 of the Companies Act, where applicable, and any such consent or dispensation must be specifically
applied for and approved by the TRP.
3. The Remaining Shareholders are referred to the Circular (which contains a summary of dissenting shareholders’ appraisal
rights in respect of the Scheme).
4. The Remaining Shareholders should note that as transactions in shares are settled in the electronic settlement system
used by Strate Proprietary Limited, settlement of trades takes place 5 (five) business days after such trade. Therefore
persons who acquire JD Group ordinary shares after the voting last day to trade (i.e. Friday, 29 May 2015) will not be
eligible to vote at the General Meeting, but will, provided the Scheme is approved and they acquire the JD Group ordinary
shares on or prior to the Scheme last day to trade (expected to be Friday, 10 July 2015), participate in the Scheme (i.e.
sell their Remaining Shares to Steinhoff in accordance with the Scheme).
5. A Remaining Shareholder may submit a form of proxy at any time to Computershare Investor Services Proprietary Limited
(“Transfer Secretaries”), however, if the form of proxy is lodged with the Transfer Secretaries less than 48 hours before
the commencement of the General Meeting, such Remaining Shareholder will also be required to furnish a copy of such
form of proxy to the chairman of the General Meeting before the appointed proxy exercises any of the relevant Remaining
Shareholder’s rights at the General Meeting (or any adjournment of the General Meeting). Notwithstanding the aforesaid,
a Remaining Shareholder may hand a form of proxy at any time before the commencement of the General meeting (or at
any adjournment of the General Meeting) to the chairman of the General Meeting before the appointed proxy exercises
any of the relevant Remaining Shareholders’ rights at the General Meeting (or at any adjournment of the General Meeting).
6. If the General Meeting is adjourned or postponed, forms of proxy submitted for the General Meeting will remain valid in
respect of any adjournment or postponement of the General Meeting.
7. All times given in this announcement are local times in South Africa.
8. If the Scheme is approved by the Remaining Shareholders the share certificates in respect of Remaining Shares may not
be dematerialised or rematerialised after the Scheme last day to trade.
9. JD Group will continue operations as an unlisted entity if either the Scheme is implemented or the delisting is approved
by the requisite majority of the Remaining Shareholders.
14 May 2015
Investec Bank Limited
PSG Capital Proprietary Limited
Date: 14/05/2015 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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