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Name | Symbol | Market | Type |
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Qnb Fin 26 | LSE:59CK | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
RNS No 2767u NEW CENTRAL WITWATERSRAND AREAS LIMITED 18th December 1998 New Central Witwatersrand Areas Limited (Incorporated in the Republic of South Africa) (Registration No. 05/04747/06) ("NCW") Anglo American Corporation of South Africa Limited (Incorporated in the Republic of South Africa) (Registration number 01/05309/06) ("AAC") Approval of the NCW scheme 1. Approval of the scheme Further to the announcement on Monday, 7 December 1998 that the requisite majority of the NCW scheme members had approved the scheme of arrangement in terms of Section 311 of the Companies Act, 1973 (Act 61 of 1973), as amended, proposed by AAC between NCW and its members, other than AAC and its subsidiaries ("the scheme"), it is today announced that the scheme was sanctioned by the High Court of South Africa (Witwatersrand Local Division) on Tuesday, 15 December 1998 and the Order of Court sanctioning the scheme was registered by the Registrar of Companies on Friday, 18 December 1998. Accordingly all of the conditions precedent to the scheme have been fulfilled and the scheme will become operative on Monday, 21 December 1998. In terms of the scheme, members of NCW, other than AAC and its subsidiaries, will receive a cash payment of R69,85 per NCW share ("the scheme consideration") held on the record date, being Friday, 18 December 1998. 2. Surrender of documents of title In order to receive the scheme consideration, NCW shareholders who have not already done so, are requested to surrender their documents of title. A further surrender form will be posted to shareholders today. Existing documents of title to NCW shares will not be good for delivery in respect of transactions entered into with effect from the commencement of business on Monday, 21 December 1998 and will have no value from this date other than for surrender in exchange for the scheme consideration. The scheme consideration will be posted or made available for collection on Wednesday, 23 December 1998 for those members who surrender their documents of title by 16:00 on Friday, 18 December 1998. For those members who surrender their documents of title after Friday, 18 December 1998, the scheme consideration will be posted or made available for collection five days after the surrender of their documents of title. 3. Stock Exchange Listings The listings of NCW shares on the Johannesburg Stock Exchange and the London Stock Exchange will be terminated with effect from the close of trading on Friday, 18 December 1998. Johannesburg 18 December 1998 END MSCXVFFFVLKZFKX
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