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CIL
CIL
CIL - Consolidated Infrastructure Group Limited - Results of the written
consent process in relation to resolutions of shareholders of the company in
terms of Section 60 of The Companies Act, 2008
Consolidated Infrastructure Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
Share code: CIL ISIN: ZAE000148201
("Company")
RESULTS OF THE WRITTEN CONSENT PROCESS IN RELATION TO RESOLUTIONS OF
SHAREHOLDERS OF THE COMPANY IN TERMS OF SECTION 60 OF THE COMPANIES ACT, 2008
(the "Act")
Shareholders are referred to the announcement released on SENS on 18 October
2011, regarding the proposed special resolutions relating to:
- the provision of financial assistance (as defined in the Act) to a
related company (as defined in the Act)or an inter-related company (as
defined in the Act)in terms of section 45 of the Act ("Special
Resolution Number 1");
- the payment of the portion of the non-executive directors` remuneration
approved at the Company`s Annual General Meeting held on 15 April 2011
for the financial year ended 31 August 2010 in terms of the relevant
provisions applicable at the time but which have not been paid since 1
May 2011, being the commencement date of the Act ("Special Resolution
Number 2.1");
- the payment of remuneration to the non-executive directors of the
Company for their services as directors in terms of section 66 of the
Act in respect of the financial year ended 31 August 2011 ("Special
Resolution Number 2.2"); and
- an annual increase not exceeding 10% of the directors` rates payable by
the Company to the non-executive directors for their services as
directors in terms of section 66 of the Act ("Special Resolution Number
2.3"),
which proposed special resolutions were submitted to shareholders of the
Company for consideration by written consent of shareholders in terms of
section 60 of the Act.
Shareholders are advised that each of the proposed special resolutions were
supported by written consent of persons entitled to exercise voting rights
thereon and holding 78.60% (seventy eight point six percent) of the voting
rights in the Company in respect of Special Resolution Number 1, Special
Resolution Number 2.1 and Special Resolution Number 2.2 and 78.59% (seventy
eight point five nine percent) of the voting rights in the Company in respect
of Special Resolution Number 2.3 as at 24 October 2011 and accordingly each
of the proposed special resolutions has been adopted by the Company in terms
of section 60(2) of the Act.
The Company will deliver a statement in accordance with section 60(4) of the
Act and notice in terms of section 45(5) of the Act to every shareholder
recorded in the Company register as at 24 October 2011.
2 December 2011
Corporate advisor, legal advisor and sponsor
Java Capital
Date: 02/12/2011 10:07:00 Produced by the JSE SENS Department.
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