| 24-01--06 | |
| CONCOR/MURRAY & ROBERTS - SANCTIONING BY THE HIGH COURT OF THE SCHEME OF ARRANGEMENT | |
| Concor Limited (Incorporated in the Republic of South Africa) Registration number: 1969/003076/06 Share code: CNC & ISIN: ZAE000001616 ("Concor") |
Murray & Roberts Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1948/029826/06 Share code: MUR & ISIN: ZAE000073441 |
Concor shareholders are advised that the High Court of South Africa (Witwatersrand Local Division) ("Court") has today conditionally sanctioned the scheme of arrangement in terms of Section 311 of the Companies Act No. 61 of 1973, as amended, proposed by Murray & Roberts Limited ("Murray & Roberts"), a wholly-owned subsidiary of Murray & Roberts Holdings Limited, between Concor and its shareholders, other than Mexican Wave Investments (Pty) Limited ("Mexican Wave"), in terms of which Murray & Roberts will acquire all the shares in the issued share capital of Concor, other than those already held by Mexican Wave ("scheme"). The sanctioning of the scheme by the Court is conditional upon the Competition Authorities approving the acquisition of the entire issued share capital of Concor by Murray & Roberts. The remaining conditions precedent to be fulfilled are the approval of the transaction by the Competition Authorities and the registration of the Order of Court sanctioning the scheme with the Registrar of Companies. Upon fulfilment of these conditions precedent further announcements regarding the salient dates and times pertaining to the implementation of the scheme will be published. Johannesburg |
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