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PSV
PSV
PSV - PSV Holdings Limited - Results of the General Meeting and changes to
the board of directors
PSV HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/004365/06)
JSE Share code: PSV ISIN: ZAE000078705
("PSV" or "the company")
RESULTS OF THE GENERAL MEETING AND CHANGES TO THE BOARD OF DIRECTORS
1 Introduction
Exchange Sponsors (Pty) Ltd is authorised to announce the results of the
general meeting of shareholders of PSV held today, Thursday, 2 August 2007
in terms of the notice of the general meeting contained in the PSV circular
to shareholders distributed on 9 July 2007. All of the resolutions were
passed by the requisite majority of shareholders, as detailed below.
2 The specific issue for cash to a Black Economic Empowerment Investor
The ordinary resolution authorizing and empowering the company by way of a
specific authority to allot and issue 25 000 000 ordinary shares in the
capital of the company to Vunani Capital (Pty) Limited, or nominee at an
issue price of 57 cents per share was approved.
3 The odd-lot offer
The special and ordinary resolutions authorizing the company to repurchase
the shares from those odd-lot holders who elect to sell their odd-lot
holdings to PSV or who do not make an election in terms of the odd-lot
offer at a price of 77 cents per share and to allot and issue no par value
shares to odd-lot offer holders at 77 cents per share from shareholders who
elect to increase their odd-lot holdings to 300 shares, was approved.
4 Timetable
Shareholders are reminded of the timetable for the odd-lot offer:
Last day to trade in order to participate in Friday, 24
the oddlot offer August
JSE lists the new shares issued in terms of Friday, 24
the specific issue of shares for cash on or August
about
Shares trade "ex" the odd-lot offer Monday, 27
August
Election period for the oddlot offer closes Friday, 31
at 12:00 on August
Form of election (pink) and surrender (blue) Friday, 31
for the oddlot offer to be received by the August
transfer secretaries before 12:00 on
Record date to determine those shareholders Friday, 31
entitled to participate in the oddlot offer August
at the close of business on
Implementation of the oddlot offer takes Monday, 3
effect after close of business on September
Results of the odd-lot offer released on SENS Monday, 3
on September
New share certificates (if applicable) posted Monday, 3
and cheques/electronic transfers in respect September
of shareholders who have surrendered their
existing documents of title by 12:00 on 31
August 2007.
Thereafter cheques will be posted within 5
business days of receipt by the transfer
secretaries.
CSDP/broker accounts debited/credited and Monday, 3
updated in respect of shareholders holding September
dematerialized shares on
5 Changes to the board of directors
The board of directors of PSV ("the board") wishes to announce the
following changes to its board with effect from Thursday 2 August 2007:
5.1 The chairperson of the board, Mr Honey Mateya has stepped down as
chairperson and resigned as independent non-executive director
5.2 Ms Evelyn Chimombe-Munyoro has been appointed as non-executive
director and chairperson of the board.
5.3 Mr Ethan Dube has been appointed as alternate non-executive director
to Ms Chimombe-Munyoro.
5.4 Mr Tony Dreisenstock, the financial director and company secretary of
the company, has resigned from his position as company secretary.
Premium Corporate Consulting services (Pty) Ltd have been appointed as
Company secretaries in his stead.
The board wishes to thank Mr Mateya for his contribution as chairman and
independent non-executive director to the company.
Designated Adviser
Exchange Sponsors (Pty) Limited
2 August 2007
Date: 02/08/2007 14:57:01 Produced by the JSE SENS Department.
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