| Mon 25 Feb 2008, 14:20 | | SAL - Sallies - Amendment Pertaining To The Notice Of Annual General Meeting |
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SAL
SAL
SAL - Sallies - Amendment Pertaining To The Notice Of Annual General Meeting
Of The Company To Be Held At 12:00 On Wednesday, 27 February 2008 At The
Glenhove Conference Centre, 52 Glenhove Road, Melrose Estate, Johannesburg
Sallies Limited
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
Share code: SAL ISIN: ZAE000022588
("Sallies" or "the Company")
AMENDMENT PERTAINING TO THE NOTICE OF ANNUAL GENERAL MEETING OF THE COMPANY TO
BE HELD AT 12:00 ON WEDNESDAY, 27 FEBRUARY 2008 AT THE GLENHOVE CONFERENCE
CENTRE, 52 GLENHOVE ROAD, MELROSE ESTATE, JOHANNESBURG
Shareholders are referred to the Notice of Annual General Meeting of 30 January
2008 in respect of the Annual General Meeting of the company to be held on
Wednesday, 27 February 2008.
In respect of Special Resolution number 1 pertaining to the Directors` Options,
the date of exercise of the irrevocable right and option to purchase 12 512 516
ordinary shares of 0.1 cent each (two thirds of all the Shares forming the
subject matter of the options) by TG Dale ("Dale") and J Blersch ("Blersch") has
been amended from 31 December 2007 to 31 August 2008. Furthermore, as a result
of this amendment, dates pertaining to exercisable dates in the event of
termination of consultancy or employment of Dale or Blersch have been amended.
Accordingly the company hereby notifies the shareholders that special resolution
1 of the aforesaid notice of the annual general meeting is hereby amended to
read as follows:
DIRECTORS` OPTIONS
Special Resolution number 1
"RESOLVED THAT the company authorise, subject to the Listings Requirements of
the JSE Limited and pursuant to section 223 of the Companies Act, 1973, that the
following options be granted to Dale and Blersch upon and subject to the
following terms and conditions:
Each of Dale and Blersch shall have the irrevocable right and option to purchase
18 768 774 ordinary par value shares of 0.1 cent each in the issued share
capital of the company ("Shares") at a strike price of 60 cents per Share,
exercisable, cumulatively, as to 12 512 516 Shares on or after 31 August 2008
(as to two thirds) and, subject to Dale or Blersch, as the case may be, still
remaining a consultant or in the employ of Sallies at the following exercise
dates, on or after 31 December 2008 (as to five sixths) and on or after 31
December 2009 (as to all the Shares forming the subject matter of the options),
* If either Dale or Blersch ceases to be a consultant or to remain in the
employ of Sallies, any of the options that may become exercisable on 31
August 2008 or subsequently become exercisable by the affected director, as
the case may be, will continue to be exercisable as follows after date of
termination of his consultancy or employment:
- if termination occurs on or before 31 July 2008: on 31 August 2008
- if termination occurs between 1 August 2008 and 30 June 2009: 1 year
thereafter
- if termination occurs after 30 June 2009: 2 years thereafter.
* All or any of the options may be exercised immediately by Dale and/or
Blersch if at any time whilst any option remains unexercised there is a
change in control in Sallies (within the meaning of the Securities
Regulation Code on take-over and Mergers of the Securities Regulation
Panel)."
Shareholders who have already lodged their forms of proxy will have the
opportunity of re-submitting their proxy forms if they so wish or vote in person
at the annual general meeting. A form of proxy will be e-mailed to shareholders
on request.
For any queries please contact Richard O`Callaghan (Company Secretary):
E-mail: richardo@proactive-integ.co.za)
Tel: +27 11 442 9592
Johannesburg
25 February 2008
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 25/02/2008 14:20:23 Produced by the JSE SENS Department.
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