UNI - Universal Industries Corporation - Results of general meeting - BCE
UNI
UNI
UNI - Universal Industries Corporation - Results of general meeting - BCE
acquisition, proposed amendments to the existing share option scheme and
proposed adoption of new assisted share purchase scheme
UNIVERSAL INDUSTRIES CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/004343/06)
JSE code: UNI: ISIN: ZAE000110664
("Universal")
RESULTS OF GENERAL MEETING - BCE ACQUISITION, PROPOSED AMENDMENTS TO THE
EXISTING SHARE OPTION SCHEME AND PROPOSED ADOPTION OF NEW ASSISTED SHARE
PURCHASE SCHEME
Shareholders are referred to the announcement released on SENS on 29 July
2010 and the category 1 circular issued to shareholders on 29 July 2010
detailing, inter alia:
- the acquisition by Universal of all of the shares and claims on loan
account against BCE Foodservice Equipment (Proprietary) Limited (the
"BCE acquisition");
- the amendments to the Universal Industries Group Executive Incentive
Scheme; and
- the adoption of the Universal Assisted Share Purchase Scheme.
Shareholders are advised that at the general meeting of Universal
shareholders held on Friday, 20 August 2010, all of the resolutions
proposed thereat were passed by the requisite shareholder majorities.
The special resolutions relating to the Universal Assisted Share Purchase
Scheme will be lodged with the Companies and Intellectual Property
Registration Office for registration.
The BCE acquisition remains subject to the following conditions precedent:
- the securing of the requisite Competition Authority approval; and
- the necessary bank funding which has been secured, to partly fund the
discharge of the purchase consideration, becoming unconditional by 31
August 2010.
23 August 2010
Corporate advisor, legal advisor and sponsor
Java Capital
Date: 23/08/2010 12:40:01 Produced by the JSE SENS Department.
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