| Tue 10 Jan 2012, 15:47 | | VUN - Vunani Limited - Proposed conversion and consolidation of the share |
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VUN
VUN
VUN - Vunani Limited - Proposed conversion and consolidation of the share
capital
VUNANI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/020641/06)
JSE code: VUN
ISIN: ZAE000110359
("Vunani" or "the company")
PROPOSED CONVERSION AND CONSOLIDATION OF THE SHARE CAPITAL ("THE CORPORATE
ACTIONS"), RELEVANT AMENDMENTS TO THE MEMORANDUM OF INCORPORATION ("MOI") AND
NOTICE OF GENERAL MEETING
PROPOSED CONVERSION AND CONSOLIDATION OF THE SHARE CAPITAL
Shareholders are advised of the following corporate actions by the company:
Conversion:
It is proposed that:
- the authorised ordinary share capital of the company of R1 000 000
divided into 10 billion ordinary par value shares of R0.0001 each be
converted into 10 billion ordinary shares of no par value; and
- the issued share capital of the company of R527 073 divided into 5 270
732 462 ordinary par value shares of R0.0001 each be converted into 5 270
732 462 ordinary shares of no par value.
Consolidation:
The board is of the opinion that the authorised share capital of the company,
the number of shares in issue and the share price of the company are at a
level which elicits little interest in the company by the Market, and
accordingly propose that the company`s share capital be consolidated on a 50:1
basis.
Amendments to the MOI:
The company`s MOI will be amended to take account of the corporate actions.
Salient dates and times relating to the corporate actions:
2012
Last day to trade to be eligible to vote at the
general meeting Friday, 27 January
Record date for general meeting Friday, 3 February
Last day to lodge forms of proxy for the general By 10:00 on Monday, 6
meeting February 2012 or they may
be handed to the Chairman
of the meeting at any
time prior to the
commencement of voting on
the Resolutions tabled at
the general meeting as
contemplated by the Act
General meeting of shareholders to be held at
10:00 on Wednesday, 8 February
Results of the general meeting released on SENS on
or about Wednesday, 8 February
Receive CIPC registrations of special resolutions
by this date Thursday, 16 February
THE DATES BELOW MAY CHANGE AS THEY ARE SUBJECT TO
THE REGISTRATIONS BY CIPC OF THE RELEVANT SPECIAL
RESOLUTIONS AND THE PROVISION OF COPIES THEREOF TO
THE JSE.
ANY SUCH CHANGES WILL BE ADVISED ON SENS.
Finalisation announcement in respect of the
corporate actions released on SENS Friday, 17 February
Last date to trade in the company`s shares pre-
the corporate actions Friday, 24 February
Converted and consolidated shares trade under new
ISIN ZAE000163382 Monday, 27 February
Record date to determine those shareholders whose
shares will be subject to the corporate actions
Friday, 2 March
Dematerialised shareholders accounts at CDSP`s or
brokers updated in respect of the corporate
actions Monday, 5 March
Replacement share certificates (reflecting the
share conversion and consolidation) posted to
certificated shareholders by registered post,
provided their existing share certificates are
surrendered by 12:00 on the record date (otherwise
within five business days after receipt of such
existing share certificates).
Monday, 5 March
Notes:
1. The above dates and times are subject to amendment and any amendment
made will be released on SENS.
2. All times given are South African local times.
3. Shareholdings may not be dematerialised or rematerialised between
Monday, 27 February 2012 and Friday, 2 March 2012, both dates
inclusive.
GENERAL MEETING
A general meeting of shareholders of the company will be held at the company`s
offices, Vunani House, Athol Ridge Office Park, 151 Katherine Street, Sandown
on Wednesday, 8 February 2012 at 10:00, to consider the proposed corporate
actions.
A circular to shareholders relating to the proposed corporate actions,
containing a notice of general meeting as set out above, was distributed to
shareholders today.
SANDTON
10 January 2012
Independent Designated Adviser
Grindrod Bank Limited
Corporate Adviser and Joint Designated Adviser
Vunani Corporate Finance
Date: 10/01/2012 15:47:01 Produced by the JSE SENS Department.
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