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VUN
VUN
VUN - Vunani Limited - Results of the annual general meeting and chairman`s
statement
VUNANI LIMITED
(formerly Vunani Capital Holdings (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000110359
("Vunani" or "the company")
RESULTS OF THE ANNUAL GENERAL MEETING AND CHAIRMAN`S STATEMENT
RESULTS OF THE ANNUAL GENERAL MEETING:
The board of Vunani advises that, at the Annual General Meeting of shareholders
held on 19 June 2008, all the ordinary resolutions as set out in the notice of
Annual General Meeting contained in the company`s 2007 Annual Report, were duly
approved by the requisite majority.
The special resolution granting a general mandate to the directors to conduct
share repurchases at the appropriate time and within prescribed limits was
similarly adopted and will be submitted to CIPRO for registration.
CHAIRMAN`S STATEMENT:
At the company`s Annual General Meeting held today, Chairman Willy Ross said the
following:
"Vunani has entered an exciting period of growth. Having largely completed the
phase of building our internal resources and capabilities in financial services,
I`m pleased to say that we are now in a position to focus on growing our
Financial Services business.
Vunani`s goal is to be the pre-eminent mid-size financial services company. At
the time of our listing in November last year we undertook to shareholders that
we would put in place the platforms necessary to realise this goal. Through the
listing of Vunani we raised R175 million which has strengthened our balance
sheet and has enabled us to do deals without giving away significant upside to
funders . Following the listing we have also announced two major transactions;
the first of which has given us a strong position in corporate finance and
treasury services. More recently we announced a significant increase in our
stake in Edge, one of South Africa`s largest managers of fund of hedge funds.
Vunani now has four fully functional operating business areas covering fund
management, investment banking, property and its active investment arm.
Our primary goal for the coming years is to build the Financial Services
businesses organically and by acquisition and we expect to see a marked increase
in assets under management, brokerage volumes and advisory work. This should
translate to a continuation of the strong development of Vunani into the
future."
Johannesburg
19 June 2008
Designated Advisers
Merchant Sponsors (Proprietary) Limited
Vunani Corporate Finance
Date: 19/06/2008 15:00:34 Produced by the JSE SENS Department.
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