PCN - Paracon Holdings Limited - Results of Scheme Meeting
PCN
PCN
PCN - Paracon Holdings Limited - Results of Scheme Meeting
Paracon Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1997/008181/06)
Share code: PCN ISIN: ZAE000029674
("Paracon" or "the Company")
RESULTS OF SCHEME MEETING
Shareholders are referred to the joint announcement released on SENS by
Adcorp Holdings Limited ("Adcorp") and Paracon on 6 September 2011 in
respect of the offer by Adcorp to acquire the entire issued share
capital of Paracon, excluding the Paracon shares held by subsidiaries
of Paracon ("Paracon Shares"), by way of a scheme of arrangement
("Scheme") in terms of section 114 of the Companies Act, 2008 (Act 71
of 2008), as amended, to be proposed by the board of directors of
Paracon between Paracon and the holders of Paracon Shares ("Paracon
Shareholders").
Paracon Shareholders are advised that at the shareholders meeting
("Scheme Meeting") held on Tuesday, 1 November 2011, convened to
consider the Scheme in terms of the notice convening the Scheme Meeting
contained in the Circular to Paracon Shareholders issued on 30
September 2011, both the special and ordinary resolutions were
supported by 94.10% of the voting rights exercised on such resolutions.
Paracon Shareholders are further advised that the Scheme remains
subject to certain conditions precedent and once all the conditions
precedent to the Scheme have been fulfilled or waived (in whole or in
part), a further announcement will be made.
Johannesburg
1 November 2011
Corporate Advisor and Sponsor to Paracon
Merchantec Capital
Legal Advisor to Paracon
Werksmans Incorporated
Date: 01/11/2011 12:55:02 Produced by the JSE SENS Department.
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