Logicaloptions - Last Date To Register For Cash Di
LogicalOptions Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/012378/06)
("LogicalOptions" or "the company")
Last date to register for cash distribution
1 Introduction
Further to the announcement dated 22 January 2001, LogicalOptions has
undertaken to distribute to LogicalOptions shareholders, subject to the
conditions listed in paragraph 2 below, the cash proceeds received for the
disposal to Cardinalis Investments (Proprietary) Limited of all its assets and
liabilities excluding its shareholding in Paracon Holdings Limited ("the
disposal"). The disposal is detailed in the circular to LogicalOptions
shareholders dated 23 January 2001 ("the circular").
It is proposed that, subject to the conditions listed in paragraph 2 below,
LogicalOptions will reduce its share premium in terms of section 90 of the
Companies Act, 1973 (Act 61 of 1973), as amended ("the Act") by an amount of
R616 657 808. This will result in a cash distribution to LogicalOptions
shareholders registered as such on the last date to register (as detailed in
paragraph 3 below) of 692 cents per LogicalOptions share ("the cash
distribution").
2 Conditions
The disposal is subject to the following conditions, which are detailed in the
circular and the announcement dated 22 January 2001:
2.1 ratification and approval of the disposal by LogicalOptions shareholders in
general meeting;
2.2 the approval of the disposal by the Competition Commission; and
2.3 any parties that have pre-emptive or similar rights over any shares or
assets agreeing in writing to waive such rights.
The salient dates and times as set out in paragraph 3 below are subject to
change in the event that any of these conditions remain unfulfilled as at the
date of the annual general meeting.
3 Salient dates and times
The salient dates and times pertaining to the cash distribution:
2001
Annual general meeting of LogicalOptions shareholders Wednesday 14 March
Results of Annual General Meeting Published Thursday 15 March
Last day to register by close of business Friday 16 March
Cheques posted by registered mail Tuesday 20 March
Johannesburg
2 March 2001
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