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EUR
EUR
EUR - Eureka Industrial Limited - Third notice regarding the expected
suspension/delisting of shares by the JSE
Eureka Industrial Limited
Incorporated in the Republic of South Africa
Registration number: 1938/010958/06
JSE share code: EUR
ISIN code: ZAE000002523
("Eureka")
THIRD NOTICE REGARDING THE EXPECTED SUSPENSION/DELISTING OF SHARES BY THE JSE.
Reference is made to the SENS announcements published on 6 and 25 August,
wherein shareholders were advised that a standby offer is in place for those who
wish to sell their shares at R69.35 per share before the anticipated suspension
of the company`s listing.
The offer will be withdrawn at the close of business today.
As noted in the last announcement, the response from shareholders has continued
to be most remarkable, with almost every one personally expressing their best
wishes for my retirement. I record my sincere and heartfelt thanks for this and
all the very kind comments, particularly as the typical relationship between a
listed company and its shareholders is quite impersonal.
The end result of our initiative is that, before taking account of any shares
that may trade today, less than 9,000 of the issued shares are not in the hands
of the controlling shareholders. This is a remarkable achievement in a company
that has been listed for some 70 years.
In due course, after the shareholder lists are reconciled, the R5.00 per share
ex-gratia payment promised to all those shareholders who accept the standby
offer will be paid.
This announcement also provides the opportunity to thank the officials of the
relevant departments of the JSE for taking what we consider to be a most
intelligent approach during these past few weeks by standing on the sidelines
while we implemented our independent initiative to deal with our few remaining
shareholders fairly. We consider this to be a most commendable approach and I
thank them for the outstanding way they have allowed us to deal with our
singular problem. In recent years it became increasingly difficult for the
company to cost effectively comply with all of the new regulations that the JSE
introduced. Similarly the company would incur inappropriately high costs for it
to comply with the formalities necessary to initiate and implement a standard
delisting, given the very small number of minority shareholders. In our unique
case we believe that no course of action other than the one we followed could
have achieved such an excellent and fair result for all parties.
Ronnie Price
Chairman
31 August 2009
Eureka Industrial Limited
Date: 31/08/2009 09:32:01 Produced by the JSE SENS Department.
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