| Fri 30 Apr 2010, 7:05 | | CSP - Chemspec - Recent Notice Of General Meeting And Proxy |
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CSP
CSP
CSP - Chemspec - Recent Notice Of General Meeting And Proxy
Chemical Specialities Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/039947/06)
Share code: CSP & ISIN: ZAE000109427
("Chemspec" or "the Company")
RECENT NOTICE OF GENERAL MEETING AND PROXY
Shareholders are referred to the latest announcement released on SENS on 13
April 2010 ("the Rights Offer announcement") in which shareholders were informed
that the board of directors of Chemspec has decided to raise approximately R109
million from its shareholders under the proposed rights offer and the specific
issue (the terms of which were duly defined in the Rights Offer announcement).
Further to the Rights Offer announcement, a notice of a general meeting of the
Company together with the required proxy forms were posted to shareholders on
Friday 23 April 2010. The general meeting is set to be held at 11:00 on Tuesday,
11 May 2010 in the Company`s boardroom at the registered office, 2029 Old Mill
Road, Canelands, to consider and, if deemed fit, to pass with or without
modification, the ordinary resolutions referred to therein. The sole purpose of
the meeting is to afford shareholders the opportunity to vote on the resolutions
which will (if passed) grant a general authority to directors to issue (pursuant
to the proposed rights offer and specific issue) a maximum amount of 121 111 111
(one hundred and twenty-one million one hundred and eleven thousand and one
hundred and eleven) of the authorised, but unissued ordinary shares in the share
capital of the Company. The shares will be placed under the control of the
directors of the Company as a general authority in terms of section 221 of the
Companies Act (Act 61 of 1973), as amended, with the authority to allot and
issue such shares pursuant to the proposed rights offer and specific issue of
shares for cash.
As set out in the Rights Offer announcement, further details of the proposed
rights offer and the specific issue will be communicated to shareholders in due
course. The relevant documentation is being finalised and will be sent to
shareholders as soon as possible.
Bryanston
30 April 2010
Designated Advisor: QuestCo Sponsors (Pty) Limited
Fundraising Advisor: Purple Capital Limited
Date: 30/04/2010 07:05:02 Produced by the JSE SENS Department.
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