| Thu 26 Jun 2008, 17:48 | | CLH - City Lodge - Results Of The General And Scheme Meetings |
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CLH
CLH
CLH - City Lodge - Results Of The General And Scheme Meetings
City Lodge Hotels Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/002864/06)
Ordinary share code: CLH
Ordinary share ISIN: ZAE000001483
("City Lodge" or "the Company")
RESULTS OF THE GENERAL AND SCHEME MEETINGS
Introduction
Further to the announcements released on the Securities Exchange News Service of
the JSE Limited and published in the press on Tuesday, 3 June 2008 and
Wednesday, 4 June 2008, respectively, City Lodge is pleased to announce that:
- the requisite majority of City Lodge ordinary shareholders approved the
special resolutions proposed at the general meeting held today, Thursday,
26 June 2008, relating to the conclusion of a 15% broad-based black
economic empowerment ownership transaction ("the BEE Transaction"), as
detailed in the circular to shareholders dated 4 June 2008. Both special
resolutions were passed with a majority of 99.12%;
- the requisite majority of City Lodge ordinary shareholders approved the
scheme of arrangement in terms of section 311 of the Companies Act, 1973,
as amended, proposed by Newshelf 934 (Proprietary) Limited, Newshelf 892
(Proprietary) Limited and Newshelf 935 (Proprietary) Limited between City
Lodge and its ordinary shareholders ("the Scheme") at the Scheme meeting
held today, Thursday, 26 June 2008. Application will be made to the High
Court of South Africa (Witwatersrand Local Division) ("the Court") on
Tuesday, 8 July 2008 at 10:00 or as soon thereafter as Counsel may be heard
for an order sanctioning the Scheme. The Court is located in the High Court
Building, Von Brandis Square, corner Pritchard and Von Brandis Streets,
Johannesburg. The special resolutions will be lodged with the Registrar of
Companies following the sanctioning of the Scheme by the Court.
Scheme Meeting Chairman`s report
Copies of the Chairman`s report on the Scheme meeting will be available on
request from Monday, 30 June 2008 during normal business hours at the Company`s
registered office being The Lodge, Bryanston Gate Office Park, corner Homestead
Avenue and Main Road, Bryanston, Johannesburg.
Further announcements
Further announcements regarding the outcome of the application to the Court for
the sanctioning of the Scheme, fulfilment of the remaining conditions precedent
and the implementation of the BEE transaction will be made to City Lodge
ordinary shareholders in due course.
Johannesburg
26 June 2008
Investment bank and transaction sponsor to City Lodge
The Standard Bank of South Africa Limited
Corporate law adviser to City Lodge
Edward Nathan Sonnenbergs
Independent sponsor to City Lodge
JPMorgan Equities Limited
Independent reporting accountants to City Lodge
KPMG Inc.
Financial adviser to Vuwa
AMB Capital Limited
Date: 26/06/2008 17:48:38 Produced by the JSE SENS Department.
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