| Tue 28 Aug 2007, 11:57 | | VER - Vestor - Results of the general meeting dir |
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VER
VER
VER - Vestor - Results of the general meeting, director appointments and salient
dates announcement
VESTOR INVESTMENTS LIMITED
(formerly Vesta Technology Holdings)
(Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)
Share code: VER ISIN: ZAE000089595
("Vestor" or "the company")
RESULTS OF THE GENERAL MEETING, DIRECTOR APPOINTMENTS
AND SALIENT DATES ANNOUNCEMENT
Shareholders are advised that, at the general meeting of Vestor held on Monday,
27 August 2007 at 11:00, at Arcay House, Number 3 Anerley Road, Parktown, all
the ordinary and special resolutions presented in the notice of annual general
meeting were passed unanimously by the shareholders.
The special resolution will be lodged with CIPRO to change the name from "Vestor
Investments Limited" to "ConvergeNet Holdings Limited". For a period of not
less than one year, ConvergeNet will reflect the former name "Vestor Investments
Limited" on all documents of title in brackets beneath the new name of
"ConvergeNet Holdings Limited".
In terms of the Listings Requirements, approval was granted by the JSE for the
change of name and for the abbreviated name "Converge" to be used with the share
code "CVN" and the ISIN will be changed to ZAE000102067. Shareholders are
referred to the salient dates below.
APPOINTMENT OF DIRECTORS
The directors of Vestor are pleased to announce that the appointment of Mr David
Michael Braine, Mr Kgaume Benjamin James Kekana, Mr Hanno van Dyk and Mr Tim
Molefe Modise to the board with immediate effect. A short curriculum vitae for
each director is listed below.
Mr David Michael Braine
David is the founding member and CEO of Structured Connectivity Solutions (Pty)
Ltd ("SCS"), and will continue to hold 49% of the equity in SCS. David holds
various Diplomas in Management and various ICT Certifications. He has been
involved in the ICT Industry for the last 18 years and spent 10 years as Account
Director at Dimension Data. Over the years, David forged close working
relationships with many major blue chip clients and successfully managed the
implementation of various complex IT Infrastructure solutions. David will be an
Executive Director of Vestor.
Mr Kgaume Benjamin James Kekana ("Ben")
Ben originally started his career in the textile industry, where he remained for
a total of fifteen years. Then, after a brief sojourn in the advertising world,
Ben made a successful transition to the IT Sector, where he became a partner in
Comsel4. In 2002, Ben was involved in the establishment of Sizwe Africa IT
Group (Pty) Ltd ("Sizwe"), where he currently serves as Executive Chairman and
in which he retains a minority shareholding. Ben is a Director of various
Companies and will be an Executive Director of Vestor.
Mr Hanno van Dyk
Hanno qualified as an accountant through the University of Pretoria and UNISA in
1986. After practicing as an accountant in a Civil Engineering concern for a few
years, Hanno entered the IT industry as an entrepreneur where he successfully
ran his own business for a period of six years. In 2000, Hanno joined Comsel4
as a partner and in 2002 became involved in the establishment of the Sizwe
Group, where he serves as Financial Director. He retains a minority
shareholding in Sizwe and will be an Executive Director of Vestor.
Mr Tim Molefe Modise
Tim has been a well known broadcasting personality for the past 27 years. He
was political analyst for Credit Suisse First Boston until April 2002 and
Chairman of the Proudly South African Campaign until March 2005. He received
the Rotary Award for community service in 1999, Best Broadcaster Radio Award in
1991, the Reconciliation Award in 2001, TV and Radio presenter award in 2001,
the Presidents` Award in 2001, "Communicator of the Year" in 2001, the Paul
Harris Award in 2002, the "Best Man" Award in 2004 and the Old Mutual SA
Leadership Award - media category in 2004. The prestigious International Jaime
Brunet Award for the promotion of human rights, previously awarded to the Dalai
Lama, was bestowed on Tim in 2003. Tim currently serves on the board of Sizwe
as a Non-executive Director, has a minority shareholding in Sizwe and will act
as a Non-executive Director of Vestor
SALIENT DATES AND TIMES FOR CHANGE OF NAME OF COMPANY
Set out in the table below are the salient dates and times relating to the
change of name:
2007
Special resolution submitted to CIPRO on Tuesday, 28 August
Shares listed and issued in settlement of the
acquisitions in certificated or dematerialised Thursday, 30 August
form on
Special resolution and name change certificate
to be registered by CIPRO by no later than Thursday, 13 September
Last day to trade shares in the name of Vestor
Investments Limited in order to be recorded as a Thursday, 20 September
shareholder by the record date on
Trading in new shares under the JSE code CVN and
ISIN ZAE000102067 commences on Friday, 21 September
Record date for determining those shareholders
whose shares will be subject to the change of Friday, 28 September
name on
Date of issue of new replacement share Monday, 01 October
certificates on or about
Dematerialised shareholders will have their
accounts at their CSDP or broker updated on Monday, 01 October
Notes:
1. The abovementioned dates and times are South African dates and times and
are subject to amendment. Any such amendment will be announced on SENS.
2. Share certificates in the name of Vestor may not be dematerialised or
rematerialised after Thursday, 20 September 2007.
SALIENT DATES AND TIMES OF OFFER TO MINORITIES
Shareholders are advised that the unconditional offer to all minority
shareholders is for a purchase consideration of 16 cents per share.
2007
Minority offer opens at 09:00 on Friday, 31 August
Last day to trade Friday, 14 September
Minority offer closes at 12h00 on (Refer note 1 Friday, 21 September
below)
Record date Friday, 21 September
Consideration cheques posted to certificated
shareholders who have accepted the offer and
surrendered their documents of title within 7
days of such acceptance or if such acceptance is Tuesday, 25 September
by 12h00 on Friday, 21 September 2007 on or
about
Dematerialised shareholders will have their
accounts held with their CSDP or broker credited Tuesday, 25 September
and updated on
Results of offer announcement published on SENS Tuesday, 25 September
on or about
Results of offer announcement published in the Wednesday, 26 September
press on or about
Notes:
Dematerialised shareholders are required to notify their duly appointed CSDP or
broker of their acceptance of the offer in the manner and time stipulated in the
agreement governing the relationship between the shareholder and his/her CSDP or
broker.
With regard to certificated shareholders, cheques in respect of the offer
consideration will be dispatched by ordinary post at the risk of the minority
shareholders concerned on or about Tuesday, 25 September 2007, or within 7
(seven) days of acceptance of this offer, subject to all necessary documents of
title having been surrendered and the offer having been accepted by 12h00 on
Friday, 21 September 2007.
The dates and times provided for in this circular are subject to amendment. Any
such amendment will be published on SENS.
Share certificates in the name of Vestor may not be dematerialised or
rematerialised after Friday, 14 September 2007.
Johannesburg
28 August 2007
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
Date: 28/08/2007 11:57:01 Produced by the JSE SENS Department.
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