Taurus today announces that all of the conditions to the Offer have been satisfied or waived and, accordingly, the Offer is declared wholly unconditional.
The Offer will remain open until further notice and at least 14 days' notice will be given of the closing of the Offer. Kalahari Shareholders who have not yet accepted the Offer are urged to do so without delay.
Level of Offer acceptances
As at 1:00 p.m. (London time) on 2 February 2012, Taurus had received valid acceptances from Kalahari Shareholders in respect of 227,973,198 Kalahari Shares representing approximately 89.5 per cent. of the existing issued share capital of Kalahari. These acceptances include acceptances received in respect of 9,518,813 Kalahari Shares, representing approximately 3.7 per cent. of the existing issued share capital of Kalahari, which were subject to irrevocable undertakings procured by Taurus from the Kalahari Directors.
The terms of the Kalahari Directors' irrevocable undertakings are set out in paragraph 3 of Appendix 5 to the Offer Document.
Accordingly, as at 1:00 p.m. (London time) on 2 February 2012, Taurus may count 227,973,198 Kalahari Shares, representing approximately 85.3 per cent. of the fully diluted share capital of Kalahari, towards the satisfaction of the acceptance condition, as set out in paragraph 1.1(a) of Part A of Appendix 1 to the Offer Document. Consequently, the acceptance condition has been satisfied.
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