A consortium comprising of Graeme John Russell Clarke and Carlo Mario Remo Talevi currently holds 14 250 400 Millionair ords (21.24% of issued capital). The consortium has agreed to purchase an additional 34 361 910 ords (51.21%) at 19cps, amounting to R6 528 763. The effective date of the transaction is 30 Apr 01 and the LDR for the offer is 1 Jun 01. As a result of the transaction, the consortium will hold 72.45% of the equity in Millionair and will, thus make an offer to all minority shareholders at 19cps. Mrs J Geldenhuis and Mr C Artemides have resigned as directors. Mr K Geldenhuis has resigned as managing director but remains a director of the board. Mr GJR Clarke and Mr CMR Talevi have been appointed to the board as joint managing directors. All of the above appointments and resignations are effective from 25 Apr 01.
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