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BFS
BFS
BFS - Blue Financial Services Limited - Results of the Annual General Meeting
Blue Financial Services Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1996/006595/06)
JSE Share code: BFS
ISIN: ZAE000083655
("Blue" or the "Company")
RESULTS OF THE ANNUAL GENERAL MEETING
Shareholders are hereby advised that, at the annual general meeting ("the
meeting") of shareholders of Blue held on 18 October 2010 at the registered
office of the Company, all the proposed resolutions included in the notice of
annual general meeting posted to shareholders together with the Company`s 2010
annual report, were approved by the majority of shareholders present in person
and by proxy, save for the following:
Resolution number 9 - authority to transact such other business at the meeting
This resolution was withdrawn at the start of the meeting as it was considered
to be no longer relevant.
Resolution number 7 - general authority to issue shares for cash
This resolution was withdrawn at the start of the meeting as it was considered
to be no longer relevant in light of the proposed recapitalisation of the
Company.
Resolution numbers 2.1 to 2.11 - resignation of the current board and
appointment of the new board of the Company with effect from the 1st business
day following the date on which the last of the conditions precedent to the
Subscription Agreement entered into between Blue and Mayibuye Group (Pty) Ltd is
fulfilled or waived as the case may be.
Shareholders at the meeting were alerted to the fact that there were certain
conditions precedent to the Subscription Agreement that still needed to be
fulfilled or waived (as the case may be).
In terms of resolutions 2.1 to 2.11 that were proposed, the current shareholders
of the Company approved the appointment of the following directors to the new
board of Blue following the 1st business day after the Subscription Agreement
becomes effective:
Sipho Twala; Robert Emslie; Timothy Till; Leonard Fine; James Albert French;
Alan Ber; Moss Mashishi, Antonios Couloubis, Johan Meiring and Shaun Strydom.
Pretoria
19 November 2010
Designated adviser to Blue
Grindrod Bank Limited
Date: 19/11/2010 15:25:01 Produced by the JSE SENS Department.
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