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BIDVEST AUSTRALIA LIMITED (BVT)

Delisted from ASX 23/12/1998

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BIDVEST AUSTRALIA LIMITED22/12/1997
MANETTAS LIMITED22/12/1997

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delisted pursuant to Listing Rule 17.1123/12/1998
we understand that a reorganisation was approved by shareholders and the court and each "Participating Shareholder" received 45 cents cash in respect of each share held by them and were given the opportunity to apply that cash (in whole or in part) to become a shareholder of Bidvest PLC (on the basis of one Bidvest PLC share for every one Bidvest Australia Limited share held) - "Participating Shareholders" could also subscribe for shares (not otherwise subscribed for) at 45 cents per share compared to third parties who had to subscribe at the US dollar equivalent of 47 cents per share - in addition Employee optionholders were to receive shares in Bidvest PLC in place of the shares held, upon exercise of their options at a uniform subscription price of 47 cents per option23/12/1998
name changed from Manettas Limited22/12/1997

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