| Mon 22 Nov 2010, 15:59 | | WTL - William Tell Holdings Limited - Results of annual general meeting and |
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WTL
WTL
WTL - William Tell Holdings Limited - Results of annual general meeting and
change in directorate
WILLIAM TELL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 2004/030045/06)
JSE Code: WTL ISIN: ZAE000098133
("William Tell" or "the Company")
RESULTS OF ANNUAL GENERAL MEETING AND CHANGE IN DIRECTORATE
Shareholders are hereby advised that, at the annual general meeting of William
Tell shareholders held on 17 November 2010 at the registered office of the
Company, save for Ordinary Resolution Number 2.2, as detailed below, 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.
Special Resolution Number 2, which related to the approval of the William Tell
Share Plan, was amended to an ordinary resolution, and was approved by a
special majority of shareholders present in person and by proxy.
The special resolution relating to the general authority to repurchase the
Company`s shares will be submitted to CIPRO for registration in due course.
In view of Mr W.H. Lok`s intended retirement in May of next year, he had
decided not to make himself available for re-election and consequently,
Ordinary Resolution Number 2.2, which related to the re-election of directors
retiring by rotation in accordance with the Company`s articles of association,
was withdrawn.
The board of directors ("the board") and staff of William Tell wish to express
their sincere appreciation to Warwick Lok for his leadership during the past
17 years as both operations director since 1993 and managing director since
2001, and his enormous contribution under challenging circumstances to the
growth and successful transition of the business into a significant producer
of wood based panels - the culmination of 20 years planning and strategic
execution.
The board and all other stakeholders of William Tell wish him happiness during
his well earned retirement. Mr Barry Lok, chief executive officer, noted: "As
CEO, you and I are intimately aware of the risks and challenges we have faced
and overcome over the past 10 years and the last 3 years in particular. We
could not have realised the impossible dream as we have now finally done
without you."
Johannesburg
22 November 2010
Designated Advisor: PSG Capital (Proprietary) Limited
Date: 22/11/2010 15:59:01 Produced by the JSE SENS Department.
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