| Mon 6 Apr 2009, 10:48 | | IWE - Interwaste Holdings - Claw-Back Of Shares Previously Cancelled And |
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IWE
IWE
IWE - Interwaste Holdings - Claw-Back Of Shares Previously Cancelled And
Amendment To Directors` Shareholdings
INTERWASTE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/002253/06)
JSE code: IWE
ISIN: ZAE000097903
("the company")
CLAW-BACK OF SHARES PREVIOUSLY CANCELLED AND AMENDMENT TO DIRECTORS`
SHAREHOLDINGS
Claw-back of shares previously cancelled:
At a general meeting of the company held on 25 August 2008, the requisite
majority of shareholders approved the agreements entered into between the
company and the original Inter-Waste (Pty) Limited vendors, Enviro-Fill (Pty)
Limited vendors and Ex-Waste (Pty) Limited regarding the cancellation of 90 000
000 ordinary shares at a par value of R0.0001 each and the right to a pro rata
claw-back by those vendors of such cancelled shares at par value, subject to the
company achieving headline earnings in excess of R32.8 million up to a maximum
of R43.3 million in respect of the year ended 31 December 2008.
The company`s audited results for the year ended 31 December 2008 were released
on 30 March 2009 and the directors are pleased to advise that a total number of
82 331 659 ordinary shares will be issued at par value of R0.0001 each in terms
of the claw back set out above.
An application has been submitted to the JSE Limited for the listing of these
shares.
Amendment to directors` shareholdings:
As a result of the above, the directors` beneficial indirect shareholdings will
be amended as follows:
Name of director Beneficial Total number Amended
indirect of shares beneficial
share- received in indirect
holding terms of the share-
before the claw- claw-back holding
back after the claw-
back
WAH Willcocks and
associates 40,077,234 35,769,675 75,846,909
BL Willcocks and
associates 46,585,316 35,769,675 82,354,991
LC Grobbelaar and
associates 7,516,948 3,201,759 10,718,707
Johannesburg
6 April 2009
Designated Adviser
Vunani Corporate Finance
Date: 06/04/2009 10:48:01 Produced by the JSE SENS Department.
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