1st Oct 2007 13:19
Meikles Africa Ld01 October 2007 CAUTIONARY STATEMENT Following previous statements published on the proposed scheme of arrangement,shareholders are hereby updated on the current status of negotiations. TheBoards of Meikles Africa Limited (Meikles Africa), Kingdom Financial HoldingsLimited (Kingdom), Tanganda Tea Company Limited (Tanganda) and Cotton Printers(Private) Limited have agreed the share exchange ratios between Meikles Africaand Kingdom and between Meikles Africa and Tanganda and that the effective dateof the transaction is 30 July 2007.Shareholders are also advised that thesalient terms of Kingdom and Tanganda schemes of arrangement which containssuch ratios and the dates of the scheme meetings will shortly be published inthe press and scheme documents will also then be sent to shareholders ofTanganda and Kingdom. On the same day that the Tanganda and Kingdom schememeetings will be held, Meikles Africa will hold an extraordinary general meetingand the salient terms of such meeting will be notified to shareholders on thesame date and in the same manner as shareholders of Kingdom and Tanganda arenotified of their respective scheme meetings and schemes of arrangement. Additionally, shareholders are advised that shareholders representing 86% of theshares in Kingdom, 55% of the shares in Meikles Africa and 58% of the shares inTanganda have given irrevocable undertakings to support the proposedtransaction. Following the conclusion of the transaction, the new KingdomMeikles Africa Limited Group will be in compliance with the proposedIndigenisation legislation. BY ORDER OF THE BOARDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Meikles