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WES
WES
WES - Wesco - Scheme Of Arrangement - Results Of Scheme Meeting
Wesco Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/005871/06)
Share code: WES ISIN: ZAE000007928
("Wesco" or "the company")
South African Trust And Finance
Company (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1943/016506/07)
("S A Trust")
SCHEME OF ARRANGEMENT ("the scheme")
RESULTS OF SCHEME MEETING
The board of directors of Wesco wishes to advise shareholders that, at the
scheme meeting held on Tuesday 9 June 2009, the scheme proposed by SA Trust to
the shareholders of the company was not approved by the requisite majority of
shareholders present and voting at the meeting.
Shareholders of Wesco who surrendered their documents of title in anticipation
of the scheme being approved will have such documents returned to them in
accordance with the conditions set out in the circular to the shareholders of
the company dated 14 May 2009.
It is presently anticipated that:
- the listing of Wesco on the JSE Limited ("the JSE"), which has been suspended
since 2 March 2009, will be terminated by the JSE with effect from the
commencement of business on Monday 6 July 2009. The record date for termination
of the listing will be Friday 3 July 2009.
Shareholders will thus be shareholders in an unlisted public company with cash
assets of approximately 260 cents per share;
- the company will in due course be wound up and the available cash (after the
costs of winding up) distributed to shareholders.
By order of the board
Johannesburg
9 June 2009
Sponsor
ARCAY MOELA
Independent professional advisor
CHARLES ORBACH & COMPANY
Corporate Finance (Proprietary) Limited
Attorneys
FLUXMANS ATTORNEYS
Date: 09/06/2009 15:46:01 Produced by the JSE SENS Department.
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