| Thu 23 Apr 2009, 17:35 | | CGR - CALGRO M3 Holdings Limited - Result of the General Meeting |
|
CGR
CGR
CGR - CALGRO M3 Holdings Limited - Result of the General Meeting
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/027663/06)
Share Code: CGR & ISIN: ZAE000109203
("Calgro" or "the Company")
RESULT OF THE GENERAL MEETING
Shareholders are referred to the Calgro circular dated 7 April 2009 ("the
circular") wherein the Company outlined the intention of Calgro M3 Land
(Proprietary) Limited ("Calgro M3 Land"), a wholly-owned subsidiary of Calgro,
to dispose of 30% of its equity interest in and cession of its claims against
Fleurhof Extension 2 (Proprietary) Limited ("Fleurhof"), a wholly-owned
subsidiary of Calgro M3 Land, to South Africa Workforce Housing Fund LP ("the
Purchaser") for a total cash consideration of R30 million, and related funding
arrangements ("the Transaction").
At a general meeting of shareholders of Calgro held today, Thursday, 23 April
2009, all resolutions relating to the Transaction were passed unanimously by
shareholders present and voting, in person or by proxy, at the general meeting.
Shareholders are advised that the only other remaining conditions precedent to
the Transaction are the receipt by the Purchaser of the following:
- a certified copy of the record of decision to be issued to Fleurhof, and
the Purchaser`s acceptance of the terms and conditions thereof, by the
Gauteng Government: Department of Agriculture, Conservation and
Environment, in respect of the project as detailed in the circular; and
- the execution of the agreement concluded between Fleurhof and Central Rand
Gold South Africa (Proprietary) Limited ("CRG"), in terms of which CRG is
entitled to explore, mine and/or extract minerals, metals and/or precious
stones on, in and/or from that portion of the land as per agreement.
As and when the outstanding conditions precedent are fulfilled, an announcement
to this effect will be made.
Johannesburg
23 April 2009
Corporate adviser and sponsor
PSG Capital (Proprietary) Limited
Date: 23/04/2009 17:35:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
