FCPD - Compass - Results Of Special Resolution And
JSE FCPD
FCPD
FCPD - Compass - Results Of Special Resolution And Update
FOORD COMPASS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003591/06)
JSE code: FCPD & ISIN: ZAE000054466
("Compass" or "the company")
RESULTS OF SPECIAL RESOLUTION AND UPDATE
The Foord Compass Limited board of directors is pleased to announce that at
the Annual General Meeting of Debenture Holders held on Friday, 20 April 2007,
debenture holders unanimously passed a Special Resolution giving general
authority to the company to acquire its own securities.
The board of directors gave the Meeting an update on some of the portfolio
developments since the year-end at 31 December 2006. As reported in the SENS
announcement dated 5 April 2007, the net attributable asset value ("NAAV") per
debenture had grown from 774 cents at the year-end to 841 cents as at 31 March
2007 -an increase of 9% for the period.
It was reported that income receipts and portfolio realisations for the first
quarter of 2007 were greater than for the same period last year.
As indicated in the company`s annual report, an investment in offshore assets
had been established by year-end as part of the company`s risk management
strategy. This position was increased during the first quarter of 2007 at the
expense of domestic equities.
The preservation of investment capital remains a key objective of the company.
Cape Town
24 April 2007
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 24/04/2007 12:30:02 Produced by the JSE SENS Department.
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