| Fri 21 Sep 2007, 12:06 | | RBX - Raubex Group Limited - Results of Annual Gen |
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RBX
RBX
RBX - Raubex Group Limited - Results of Annual General Meeting
RAUBEX GROUP LIMITED
(Previously Lexpub 49 Investments Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/023666/06)
JSE Share code: RBX
ISIN: ZAE000093183
Results of Annual General Meeting
Raubex shareholders are advised that at the Annual General Meeting of members
held on Friday, 21 September 2007, all resolutions as proposed in the Notice of
the Annual General Meeting were approved by the requisite majority of members.
The special resolution will be lodged with the registrar for registration in due
course.
At the Annual General Meeting, the chairman, Collin Matjila, made the following
address:
"It is with great pleasure that I stand before you to mark yet another
significant event in the thirty year history of the company. Our successful
listing on the main board of the JSE Limited on 20 March 2007 marked the
effective transformation into a public entity and we firmly believe that with
your support, we are now better positioned to attain our intended vision and
mission and continue to grow from strength to strength in this buoyant
environment.
South Africa is currently experiencing a capacity constraint in the civil
engineering sector and whilst this means that the Government may experience
difficulties in meeting original timeframes relating to infrastructure
development, we believe that this allows highly specialised and empowered
companies such as Raubex to select higher quality projects with better margin
levels.
This skills situation is very relevant to Raubex and we are very much aware that
the key driver of our business is our people. This is why we`ve asked you today
to agree the implementation of a Share Incentive Scheme aimed to attract, retain
and reward the best talent in the industry at middle management level. This is
an important strategic step and we thank you for your support.
You will have seen our trading statement published on 7 September 2007 which
reinforced our commitment to realise solid growth and build shareholder value.
Business prospects continue to be strong and our order book is growing daily
supported by the government`s budget commitment on roads alone of R60 billion
over the next three years.
During the year under review, Raubex proceeded with its stated strategy of
growing both organically and acquisitively. This is reflected by last year`s
solid performance, the guidance provided through our trading statement but also
through the strategic acquisitions of Milling Techniks, SPH Kundalila and
National Asphalt.
As mentioned before, the directors will proactively continue to identify value
enhancing opportunities for the various divisions of the Group but we will not
proceed with a deal that does not meet the strict criteria agreed by the board.
It is worth noting that in southern Africa, acquisitions in geographies well
known to the company may also be considered.
To conclude, we are pleased with our performance since listing and look forward
to building on our experience, leveraging on the positive market dynamics and we
anticipate another successful year ahead."
ENQUIRIES
Raubex Group Limited +27 12 665 3226
Francois Diedrechsen, Commercial and Financial Director
College Hill +27 11 447 3030
Fred Cornet +27 83 307 8286
Jacques de Bie +27 82 691 5384
www.raubex.co.za
Johannesburg
21 September 2007
Investment Bank and Sponsor
Investec Bank Limited
Date: 21/09/2007 12:06:10 Produced by the JSE SENS Department.
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