BID Bidcorp

RNS Number:3955B
Bidcorp PLC
29 July 2004


29 July 2004

                    BIDCORP PLC ("Bidcorp" or "the Company")

                            COURT SANCTION OF SCHEME

Bidcorp and The Bidvest Group Limited are pleased to announce that, at a hearing
earlier today, the High Court sanctioned the Scheme of Arrangement pursuant to
which Bid Services Division (UK) Limited is to acquire full control of Bidcorp
and confirmed the reduction of capital involved therein. Accordingly, all the
conditions of the Scheme have been satisfied or waived other than the condition
relating to the delivery and registration of an office copy of the Court Order
by the Registrar of Companies.

The Scheme is expected to become effective on 2 August 2004 (in which case, the
last day for dealings in Bidcorp Shares is expected to be 30 July 2004) and,
providing that this is the case, the consideration due under the Scheme will be
paid to those Public Bidcorp Shareholders on the register of members as at 6.00
p.m. on 30 July 2004 by no later than 16 August 2004.

Terms used in this announcement have the same meanings given to them in the
Scheme Document, which was posted to Bidcorp Shareholders on 16 June 2004.

ENQUIRIES:

Bidcorp                              Bidvest

Anthony Cooke (Independent Director) Brian Joffe (Chief Executive)
Tel: +44 (0) 20 7408 0123            David Cleasby (Investor Relations)
                                     Tel: +27 (0) 11 772 8700

Investec Bank (UK) Limited (Adviser  HSBC Bank plc (Adviser to BSD
to
Bidcorp)                             and Bidvest)

James Grace                          Jan Sanders
Gary Clarence                        Marcus Ayre
Tel: +44 (0) 20 7597 5970            Tel: +44 (0) 20 7991 8888

Investec Investment Banking, a division of Investec Bank (UK) Limited, which is
regulated in the United Kingdom by the Financial Services Authority, is acting
exclusively for Bidcorp and no one else in connection with the Proposal and will
not be responsible to anyone other than Bidcorp for providing the protections
afforded to customers of Investec Investment Banking or for providing advice in
relation to the Proposal or any other matter referred to in this announcement.

HSBC Bank plc, which is regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for BSD and Bidvest and no one else in
connection with the Proposal and will not be responsible to anyone other than
BSD and Bidvest for providing the protections afforded to customers of HSBC Bank
plc or for providing advice in relation to the Proposal or any other matter
referred to in this announcement.

Copies of this announcement are not being, and must not be, mailed or otherwise
distributed or sent in or into the United States or Canada and persons receiving
this announcement (including custodians, nominees and trustees) must not
distribute or send it into or from the United States or Canada.

This announcement does not constitute an offer to sell or the solicitation of an
offer to subscribe for or buy any securities, nor the solicitation of any vote
or approval in any jurisdiction, nor shall there be any sale, issue or transfer
of the securities referred to in this announcement in any jurisdiction in
contravention of applicable law.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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