| Fri 22 Jun 2007, 12:13 | | QUY - Quyn - Change Of Name Of The Company Change |
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QUY
QUY
QUY - Quyn - Change Of Name Of The Company, Change Of Sector And Specific
Repurchase Of Shares
QUYN HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/012245/06)
Share code: QUY & ISIN: ZAE000017257
("Quyn" or "the company")
CHANGE OF NAME OF THE COMPANY, CHANGE OF SECTOR AND SPECIFIC REPURCHASE OF
SHARES
The directors of Quyn wish to advise shareholders of the following:
1) Change of Name of the Company and Sector
The focus of the operations of Quyn has, over the past few years,
gravitated towards the property operations within the Colliers division
with by far the larger percentage of assets and earnings emanating from
property. Colliers is a strong international brand in its own right and is
not always associated with Quyn. It is proposed that the name of Quyn
Holdings Limited be changed to more correctly reflect the largest source of
the group`s income, therefore it has been agreed to change the company name
to Colliers South Africa Holdings Limited.
With the company moving steadily towards the property sector the company
would need to change its current sector from industrial goods and services
- support services to real estate holdings and development.
Subject to special resolution being approved, the change of name will be
effective from commencement of business on Monday, 13 August 2007 and the
sector will be changed on or about 25 September 2007, subject to FTSE
approval.
2) Salient Dates 2007
Circular and notice of general meeting
to be posted to Shareholders Wednesday, 20 June
Last day for lodging forms of proxy at 10h00. Monday, 16 July,
GENERAL MEETING at 10h00 Wednesday, 18 July
Announcement on SENS Wednesday, 18 July
Announcement in the press Thursday, 19 July
Special Resolution submitted to Registrar of
Companies Thursday, 19 July
Repurchased shares to be de-listed on
a date to be announced
Resolutions and name change certificate
to be registered
by Registrar of Companies by no later than Tuesday, 31 July
Last day to trade shares in the name of Quyn Ltd
in order to be recorded as a shareholder by the
record date Friday, 10 August
Trading in new shares under the
JSE code COL and ISIN ZAE000099461 commences on Monday, 13 August
Record date for determining those
shareholders whose shares will be subject
to the change of name Friday,17 August
Date of issue of new replacement
share certificates (see note 3) or about Monday, 20 August
Dematerialised shareholders will
have their accounts
At their CSDP or broker updated on Monday, 20 August
Date of transfer of sector on or about Tuesday, 25 September
Note:
1. The above dates and times are subject to amendments. Details of any such
amendment will be released on SENS and published in the press.
3) Specific Repurchase of Shares
3.1 Terms of the specific repurchase
During the 2002 financial year, the company, through a subsidiary,
acquired a total of 6 992 314 shares which have since been held as
"treasury shares". The directors of Quyn have resolved that, as it is
highly unlikely that these shares would be re-issued together with the
fact that in the event of a re-issue of these shares the company would
need to comply with the JSE Limited`s requirements covering a new
issue of shares, these shares needed to be cancelled and de-listed.
As the share are not regarded as being in issue for the purposes of
computing earnings per share and net asset values there will be no
effects resulting from their cancellation. The shares are to be
repurchased at 15 cents per share being the original cost to the
subsidiary.
3.2 Financial effects
As set out above the specific repurchase and cancellation will not
have any financial effects on earnings and/or net asset value.
A circular is being finalised detailing the above and will be posted to
shareholders on or around 25 June 2007 and general meeting will be held on or
around 18 July 2007 to consider the above.
Johannesburg
22 June 2007
Sponsor
Arcay Moela Sponsors (Pty) Ltd
Date: 22/06/2007 12:13:01 Produced by the JSE SENS Department.
