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SKJ
SKJ
SKJ - Sekunjalo Investments Limited - Notice to Shareholders
Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: SKJ
ISIN: ZAE000017893
("Sekunjalo" or "the Company")
NOTICE TO SHAREHOLDERS
Shareholders are referred to the circular to shareholders dated 27 January
2012 ("the Circular") and to the ordinary and special resolutions set out in
Annexure 1 thereto ("the Resolutions"). The Company hereby gives notice to
shareholders in terms of section 60(4) of the Companies Act, No 71 of 2008
("the Companies Act") that the Resolutions have been approved by the
requisite majorities of Sekunjalo shareholders.
The Resolutions approved by shareholders (as referred to above) include
inter alia Special Resolution Number 2, in terms of which shareholders
approved in terms of section 45(3)(a)(ii) of the Companies Act, the granting
of financial assistance to two wholly-owned subsidiaries of the Company to
facilitate the Company`s participation in a proposed black economic
empowerment transaction undertaken by Pioneer Food Group Limited ("Financial
Assistance").
Following approval of Special Resolution Number 2, on or about 9 February
2012 the board of directors of the Company ("the Board") adopted a
resolution authorising the Company to provide the Financial Assistance (the
"Section 45 Board Resolution"). The Board is satisfied that (1) immediately
after providing the Financial Assistance the Company will satisfy the
solvency and liquidity test as referred to in section 45(3)(b)(i) of the
Companies Act, and that (2) the terms under which the Financial Assistance
is to be given are fair and reasonable to the Company as referred to in
section 45(3)(b)(ii).
The Financial Assistance to be granted by the Company in terms of the
Section 45 Board Resolution will exceed one-tenth of one percent of the
Company`s net worth and the Company hereby provides notice of the Section 45
Board Resolution to shareholders in terms of the provisions of section 45(5)
of the Companies Act. The Company does not have any employees represented by
a trade union.
Cape Town
21 February 2012
Sponsor
PSG Capital
Date: 21/02/2012 11:49:01 Produced by the JSE SENS Department.
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