| Mon 26 Feb 2001, 0:00 | | Dalys/tempora/ettington - Results Of General Meeti |
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Dalys Limited
(Incorporated in the Republic of South Africa)
(Registration number 18/000299/06)
("Dalys")
Tempora Investment Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1971/004777/06)
("Tempora")
ETTINGTON INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1985/005440/06)
("Ettington")
(collectively referred to hereinafter as "the Companies")
Results of general meetings
1. Results of general meetings
At general meetings of the Companies' shareholders held on Monday, 19 February
2001, the necessary ordinary and special resolutions approving a specific
repurchase by Tempora of Ettington's investment in Tempora ("the specific
repurchase"), the simultaneous distribution of the respective effective
interests of Dalys and Tempora in Amalgamated Beverage Industries Limited
("ABI"), Dalys, Ettington, Nampak Limited ("Nampak"), South African Breweries
plc ("SAB") and Tempora to Dalys shareholders, Tempora shareholders, and
cessionaries ("the share distributions"), the declaration of special cash
dividends by Dalys, Tempora and Ettington in anticipation of their winding-up
("the special cash dividends") and the suspension and termination of the
listings of the Companies on the JSE Securities Exchange South Africa ("the
JSE") were passed unanimously.
2. The specific repurchase
Shareholders of Tempora and Ettington have approved the specific repurchase at
the net asset value per Tempora share based upon the weighted average price of
Tempora's effective interests in its own, Ettington's and Daly's investments
for the five business days ended on Thursday, 22 February 2001. Such net asset
value per Tempora share has been determined as 4294,2708978 cents per Tempora
share. Accordingly, Tempora will purchase 2 123 678 Tempora shares from
Ettington. The purchase consideration will be discharged by payment in cash of
R91 196 486,32 by Tempora to Ettington.
3. Listings
The listings of the Companies on the JSE were suspended with effect from the
close of trading on Wednesday, 21 February 2001 and will be terminated with
effect from the close of trading on Monday, 26 February 2001.
4. Last day to register
Shareholders are reminded that the last day to register for the share
distributions and the special cash dividends is today, Friday, 23 February 2001
5. Share distributions, special cash dividends, fractional entitlements and the
consideration due in respect of the disposal by certain shareholders of ABI,
Nampak and SAB shares
Share certificates in respect of the share distributions and cheques in respect
of the special cash dividends will be posted by registered mail and, where
applicable, deposited into shareholders' bank accounts, on Monday, 26 February
2001.
Cheques in respect of fractional entitlements arising from the share
distributions and in respect of the disposal of ABI, Nampak and SAB shares on
behalf of those shareholders who elected to do so will be posted by registered
mail, and where applicable, deposited into shareholders' bank accounts, on
Tuesday, 6 March 2001.
6. Winding-up
The Companies will be put into voluntary liquidation in terms of section 350 of
the Companies Act, 61 of 1973 (as amended) on or about Tuesday, 20 March 2001.
The timing of the Companies' winding-up distributions is uncertain, but it is
anticipated that they will be made by mid September 2001.
Durban
23 February 2001
Investment bank and sponsor
NEDCOR INVESTMENT BANK
Attorneys
BARKERS
Reporting accountants
Deloitte & Touche
