AFT - Afrimat Limited - Results of annual general meeting and business update
AFT
AFT
AFT - Afrimat Limited - Results of annual general meeting and business update
Afrimat Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022534/06)
Code: AFT ISIN: ZAE 000086302
("Afrimat")
RESULTS OF ANNUAL GENERAL MEETING AND BUSINESS UPDATE
Shareholders are notified that at the Company`s annual general meeting held
on 4 August 2010, the special resolution and ordinary resolutions proposed
were duly passed by the requisite majority of votes. The special resolution
granting general authority to the directors to repurchase the Company`s
shares will be lodged for registration with CIPRO in due course.
Following the annual general meeting a business update was presented by
Andries van Heerden, the Chief Executive Officer. This full presentation is
available on the Company`s website www.afrimat.co.za. Highlights of the
presentation are as follows:
1. No slowdown evident during the world cup;
2. First quarter activities were slow but improvement evident in the second
quarter compared to the same quarter in the previous year as well as the
first quarter of this year. Year to date Aggregates and Concrete
Manufactured Products are showing good volume improvement but Readymix
is under pressure when compared to the same period in the previous year;
3. Strong balance sheet will enable the Company to exploit bargain
acquisitions;
4. Previous acquisitions are contributing well. The Glen Douglas
acquisition has been approved by the Competition Commission and approval
from the Department of Mineral Resources is the only outstanding
condition precedent before the acquisition becomes effective.
Johannesburg
5 August 2010
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 05/08/2010 13:02:58 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.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
