| Thu 11 Dec 2008, 12:44 | | ABO - Absolute - Results of the annual general meeting and the general meeting |
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ABO
ABO
ABO - Absolute - Results of the annual general meeting and the general meeting
held to approve the acquisition of 25.1% Of Qinisele Resources (Proprietary)
Limited ("Qinisele`)
ABSOLUTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004649/06)
Share code: ABO & ISIN No: ZAE000062998
("Absolute" or "the company")
RESULTS OF THE ANNUAL GENERAL MEETING AND THE GENERAL MEETING
HELD TO APPROVE THE ACQUISITION OF 25.1% OF QINISELE RESOURCES (PROPRIETARY)
LIMITED ("QINISELE`)
Annual General Meeting
The board of directors is pleased to announce that all ordinary resolutions and
the special resolution to increase the authorised share capital as proposed at
the Annual General Meeting held on Wednesday, 10 December 2008 were passed by
the requisite majority of shareholders. The special resolution will be lodged
with the Registrar of Companies for registration in due course.
Shareholders are advised that there was a misprint in the special resolution set
out in the annual financial statements and that the resolution relating to the
increase in authorised share capital should have read as set out below:
"Resolved that, the authorised share capital of the Company comprising
R15 000 000 divided into 1 500 000 000 ordinary shares with a par value of R0.01
per share, be and hereby is increased by R10 000 000 to R25 000 000 by the
creation of an additional 1 000 000 000 ordinary shares with a par value of
R0.01 per share each in the share capital of the Company, which additional
ordinary shares shall in all respects rank pari passu with the existing
ordinary shares in the capital of the company, be and is hereby approved."
Shareholders are, however, advised that those shareholders present and entitled
to vote at the annual general meeting approved the amended wording and voted
unanimously in favour of the amended resolution.
General Meeting
The board of directors are furthermore pleased to announce that all ordinary
resolutions set out in the notice of general meeting relating to the acquisition
of 25.1% of Qinisele Resources (Pty) Limited ("Qinisele Resources") were passed
by the requisite majority of shareholders.
Given that all conditions precedent to the Qinisele Resources acquisition have
now been met it is expected that the 333 333 334 new ordinary shares in Absolute
will be listed on the JSE with effect from the commencement of business on 15
December 2008 and rank pari passu with the existing ordinary shares of the
Absolute.
Mark Rosslee, Absolute CEO commented, " We are pleased to have formally closed
the Qinisele Resources acquisition and are delighted to have the Qinisele
Resources team, led by Dennis Tucker, as part of Absolute. Together, Absolute`s
new management and Qinisele Resources intend growing Absolute into a focused
resources exploration, development and mining company. The combined resource
sector skills and experience within Absolute will provide the foundation for
value accretive acquisitions and investment opportunities."
Johannesburg
11 December 2008
Designated Advisor Company Secretary
Arcay Moela Sponsors (Pty) Ltd Arcay Client Support (Pty) Ltd
Date: 11/12/2008 12:44:19 Produced by the JSE SENS Department.
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