RESULTS OF GENERAL MEETING AND FINALISATION ANNOUNCEMENT
HCI shareholders are referred to the announcement dated 30 July 2012 in connection with the listing of Niveus Investments Limited (“Niveus Investments”) and the pro rata offer, by HCI, to holders of ordinary shares in HCI to receive their pro rata portion of 45% of the shares in Niveus Investments by tendering one HCI ordinary share (“HCI Share”) for repurchase by HCI in exchange for the distribution in specie by HCI of 11.95191 Niveus Investments ordinary shares (“Niveus Investments Shares”) per HCI Share repurchased (collectively the “Pro-rata Repurchase and Distribution”).
HCI shareholders are advised that at HCI?s general meeting held today, 30 August 2012, the special resolution and the ordinary resolution proposed were unanimously approved. Accordingly all conditions have been fulfilled.
HCI shareholders may elect to tender one HCI Share for every 11.95191 Niveus Investments Shares received,
up to 3.07% of their HCI shareholding. In addition HCI shareholders may elect to tender such additional HCI Shares in terms of excess applications provided that HCI shall not repurchase more than 3.07% of its entire issued share capital, net of treasury shares. In aggregate, a total of 48 203 589 Niveus Investments Shares are available for distribution.
The important dates and times are set out below:
Last date to trade HCI shares in order to be recorded in the HCI share register on the record date in order to elect to participate in the Pro-rata Repurchase and Distribution on Friday, 7 September
Listing of Niveus Investments Shares on the JSE with effect from the commencement of business under the abbreviated name: Niveus, JSE code: NIV, and ISIN ZAE000169553 on Monday, 10 September
Commencement of trade in Niveus Investments Shares on Monday, 10 September
HCI Shares trade excluding the entitlement to the Pro-rata Repurchase and Distribution on Monday, 10 September
Record date to participate in the Pro-rata Repurchase and Distribution being the date on which HCI shareholders must be recorded in the HCI share register in order to elect to participate in the Pro-rata Repurchase and Distribution on Friday, 14 September
Last date on which the HCI shareholders can make an election to participate in the Pro-rata Repurchase and Distribution by 12h00 on Friday, 14 September
Effective date of the Pro-rata Repurchase and Distribution Monday, 17 September
Niveus Investments share certificates posted to certificated HCI shareholders who elected to participate in the Pro-rata Repurchase and Distribution (provided their Form of Election, Surrender and Transfer and documents of title are received on or prior to 12h00 on the record date) on or about Wednesday, 19 September
Niveus Investments Shares credited to the accounts (held at the relevant CSDP or broker) of those dematerialised HCI shareholders who elected to participate in the Pro-rata Repurchase and Distribution (and the relevant number of HCI
Shares debited from their accounts) on or about Wednesday, 19 September
1. All dates and times indicated above are South African Standard Times.
2. HCI Shareholders are advised that no dematerialisation or rematerialisation of HCI Shares may take place between Friday, 7 September 2012 and Monday, 17 September 2012.
30 August 2012