Results Of Annual General Meeting Of Logicaloption
LogicalOptions
LogicalOptions Limited
(Incorporated in the Republic of South Africa)
(Registration number 1995/012378/06)
("LogicalOptions" or "the company")
Announcement of the results of annual general meeting of LogicalOptions
1 Introduction
Investec Bank Limited is authorised to announce that at the annual general
meeting of LogicalOptions shareholders held on Wednesday, 14 March 2001
relating to, inter alia, the disposal by LogicalOptions of all its assets and
liabilities, excluding its shareholding in Paracon Holdings Limited ("the
disposal") and the distribution to LogicalOptions shareholders of the proceeds
of the disposal ("the distribution"), the requisite majority of LogicalOptions
shareholders approved all the resolutions tabled.
2 Shares in Paracon Holdings Limited ("Paracon")
Agreement has been reached between LogicalOptions, Dimension Data i-Commerce
(Proprietary) Limited and the Paracon management shareholders in terms of which
LogicalOptions has been released from the restrictions regarding its Paracon
shares, subject to, inter alia, the disposal becoming unconditional and
LogicalOptions unbundling its entire shareholding in Paracon.
A further announcement in this regard will be made in due course.
3 Conditions precedent
Shareholders are advised that the Competition Commission has granted approval
for the disposal and that the only condition which remains unfulfilled is the
requirement for any parties that have pre-emptive or similar rights over any of
the shares or assets, which are being disposed of in terms of the disposal,
agreeing in writing to waive such rights by Saturday, 31 March 2001.
LogicalOptions is continuing discussions with the parties concerned and
shareholders will be advised as to the progress in this regard.
4 Salient dates
In view of the above the disposal will not have become unconditional by the
proposed last day to register for the distribution as published on Friday, 2
March 2001, and shareholders are therefore advised that Friday, 16 March 2001
will no longer be the last day to register for the distribution.
A further announcement will be made once the disposal has become unconditional
at which time shareholders will be advised of the revised last day to register.
5 Change of name
The resolution regarding the change of name to LogOpt Limited is subject to the
completion of the disposal and therefore the change of name and the effective
date thereof will be announced once all the conditions precedent have been
fulfilled.
Johannesburg
14 March 2001
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
