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PLC
PLC
PLC - Placecol Holdings Limited - Results of the annual general meeting and
commentary from the CEO
PLACECOL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: PLC
ISIN: ZAE000102307
("the company")
RESULTS OF THE ANNUAL GENERAL MEETING AND COMMENTARY FROM THE CEO
Results of the annual general meeting:
Shareholders are advised that, at the company`s annual general meeting held on 2
October 2008, all the resolutions proposed thereat, other than the ordinary
resolution relating to the directors` general authority to issue shares for
cash, were duly passed by the requisite number of shareholders, including:
the specific repurchase of 11 893 332 ordinary shares at an aggregate purchase
consideration of R1.00 in accordance with the provisions of clause 9 of the Sale
of Shares and Cession of Claims Agreement entered into between the company and
the parties thereto;
the specific repurchase of 2 400 000 shares from the company`s Share Incentive
Scheme at R1.00 each; and
a general authority authorising the directors to conduct share repurchases at
the appropriate time and within prescribed limits
The special resolutions will be submitted to CIPRO for registration.
CEO`s commentary:
After closure of the AGM, the CEO, Mr. Wessel de Wet provided a summary of the
current business activities of the group and mentioned the following new
prospects:
The brand SkinPHD has been launched and it expected to sell the first two
franchises of this exclusive Aesthetic Health Clinic concept to medical doctors
during this financial year;
The first Placecol 4Men Grooming salon will be opened within a few months;
A distribution agreement has been signed for distribution of the Placecol brands
in the United States of America;
A master distribution agreement has been signed for Australasia and franchised
Placecol Beauty centres should be opening in the new year in Australia;
Mr. de Wet mentioned that in spite of the current economic climate, sales of the
Placecol brands are still in line with expectations.
Johannesburg
6 October 2008
Designated Adviser
Vunani Corporate Finance
Date: 06/10/2008 16:23:01 Produced by the JSE SENS Department.
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