| Thu 12 Jun 2008, 16:11 | | JNC - Johnnic Holdings - Results Of The General Meeting Regarding The |
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JNC
JNC
JNC - Johnnic Holdings - Results Of The General Meeting Regarding The
Odd Lot Offer
Johnnic Holdings Limited
(Registration number 1889/000429/06)
Share code: JNC
ISIN: ZAE000024352
("Johnnic" or "the company")
RESULTS OF THE GENERAL MEETING REGARDING THE ODD LOT OFFER
1. Introduction
At the general meeting of shareholders held today, in terms of the notice
of general meeting of Johnnic shareholders contained in the circular to
shareholders posted on 14 May 2008, all the special and ordinary
resolutions referred to below were passed by the requisite majority of
shareholders.
2. The odd lot offer
The odd lot offer only applies to those Johnnic shareholders who hold less
than 100 Johnnic ordinary shares each ("odd lot holders") on the close of
business on Friday, 27 June 2008.
The special and ordinary resolutions authorising the company to amend
Johnnic`s articles of association to accommodate the odd lot offer as well
as authorisation for the repurchase of the shares from those odd lot
holders who elect to sell their odd lot holdings to Johnnic or who do not
make a valid or timeous election or any election at all in terms of the odd
lot offer, at a price of R12.14 per share, being the volume weighted
average traded price of the Johnnic shares on the JSE Limited over the five
trading days commencing on Wednesday, 7 May 2008 and ending on Tuesday, 13
May 2008, plus a 5% premium, were approved.
The special resolutions will be lodged with the Registrar of Companies for
registration as soon as possible.
3. Salient dates and times
The salient dates and times as detailed in the announcement released on
SENS on 14 May 2008 and published in the press on 15 May 2008, remain
unchanged.
The election period for the odd lot offer will open tomorrow, Friday, 13
June 2008, at 09:00.
Sandton
12 June 2008
Investment Bank and Sponsor
Investec Bank Limited
Corporate Law Adviser
Webber Wentzel incorporating Mallinicks
Date: 12/06/2008 16:11:11 Produced by the JSE SENS Department.
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