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MMI
MMI
MMI - MMI Holdings Limited - Results of the General Meeting regarding
the restructuring of the existing Broad-Based Black Economic Empowerment
("BEE") transaction, odd-lot offer and voluntary repurchase offer
MMI Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/031756/06)
Income Tax reference number: 9752050147
JSE share code: MMI
NSX share code: MIM
ISIN: ZAE000149902
("MMI" or the "Company")
RESULTS OF THE GENERAL MEETING REGARDING THE RESTRUCTURING OF THE
EXISTING BROAD-BASED BLACK ECONOMIC EMPOWERMENT ("BEE") TRANSACTION,
ODD-LOT OFFER AND VOLUNTARY REPURCHASE OFFER
Restructuring of the existing BEE Transaction
Shareholders are advised that, at the general meeting held on Monday, 18 June
2012, the special resolution to amend the terms of the A3 MMI preference
shares in order to facilitate the restructuring of the existing BEE
transaction was approved by the requisite majority of shareholders of MMI.
Odd-Lot Offer and Voluntary Repurchase Offer (the "Offers")
Shareholders are further advised that the necessary special resolution relating
to the Offers and the ordinary resolutions to make and implement the Offers were
approved by the requisite majority at the same general meeting of shareholders.
The special resolutions will be lodged with the Companies and Intellectual
Property Commission office.
Further announcements relating to the fulfilment of conditions precedent, the
finalisation of offer price and the results of the Offers will be made on the
relevant dates as previously announced on 18 May 2012.
Dividends Tax
As advised in the previous announcement released on SENS on 18 May 2012, the
Offers will be subject to the withholding of dividends tax at a rate of 15% in
respect of those shareholders (i.e. beneficial owners) who are not exempt from
dividends tax. There are no Secondary Tax on Companies credits to be utilised
for the Offers.
Centurion
18 June 2012
Merchant bank, transaction sponsor and debt advisor to MMI
Rand Merchant Bank (A division of FirstRand Limited)
Independent sponsor to MMI
Merrill Lynch South Africa Proprietary Limited
Independent reporting accountants
PricewaterhouseCoopers Inc
Legal advisor to MMI
Edward Nathan Sonnenbergs Inc.
Legal advisor to KTH
Webber Wetzel Attorneys
Transaction and debt advisors to KTH
Afterguard Services Proprietary Limited
Independent expert
Ernst & Young
Date: 18/06/2012 12:58:01 Produced by the JSE SENS Department.
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