Business Connexion/Telkom SA-Joint update announcement:Acq by Telkom of the entire issued share capital of BCX BUSINESS CONNEXION GROUP LIMITED TELKOM SA SOC LIMITED (Incorporated in the Republic of South Africa) (Incorporated in the Republic South Africa) (Registration number 1988/005282/06) (Registration number 1991/005476/30) JSE code: BCX JSE code: TKG ISIN: ZAE0000154631 ISIN: ZAE000044897 ("BCX" or the "Company") ("Telkom") JOINT UPDATE ANNOUNCEMENT: ACQUISITION BY TELKOM OF THE ENTIRE ISSUED SHARE CAPITAL OF BCX 1. INTRODUCTION Unless defined, terms used in this announcement shall bear the meaning ascribed to them in the circular published by BCX on 11 July 2014 (“Circular”). Shareholders of BCX and Telkom (“Shareholders”) are referred to the various announcements released on the Stock Exchange News Service of the JSE Limited ("JSE") regarding the Proposed Transaction. 2. UPDATE ON REGULATORY APPROVALS The following regulatory approvals remain outstanding: - The Competition Tribunal of South Africa; and - to the extent required, the Independent Communications Authority of South Africa (ICASA). Upon receipt of the above approvals, final approval of the Proposed Transaction will be sought from the Takeover Regulation Panel. 3. AMENDMENT TO THE IMPLEMENTATION AGREEMENT Shareholders are further advised that the Implementation Agreement, as amended by addenda; has been further amended to extend the Long Stop Date from 31 May 2015 to 30 June 2015. Midrand 29 May 2015 Investment bank and corporate advisor to BCX: Investec Bank Limited Transaction sponsor to BCX: Investec Bank Limited Investment bank and corporate advisor to Telkom: Absa Bank Limited Transaction sponsor to Telkom: Absa Bank Limited Legal advisor to BCX and Telkom: Edward Nathan Sonnenbergs Incorporated Sponsor to BCX: One Capital Sponsor Services (Proprietary) Limited Sponsor to Telkom: The Standard Bank of South Africa Limited Date: 29/05/2015 03:45:00 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.
Email this JSE Sens Item to a Friend.