Allied Electronics Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1947/024583/06)
("Altron" or "the company")
Results of shareholder meetings
1. Introduction
It was announced on Tuesday 5 June 2001 and Friday 22 June 2001 that Altron
Finance (Pty) Limited or any other wholly-owned subsidiary of the company
("Alfin") would make an offer ("the pro rata offer") to acquire from Altron
ordinary and participating preference shareholders ("shareholders"), pro
rata to their shareholdings, 6 186 634 ordinary shares and 12 323 106
participating preference shares in the issued share capital of Altron for a
consideration of 810 cents per share ("the offer consideration"), subject to
the approval by shareholders of resolutions in a separate class meeting of
participating preference shareholders and a general meeting of shareholders
in terms of the Companies Act, 1973 (No 61 of 1973), as amended, and the
Listings Requirements of the JSE Securities Exchange South Africa. It was
also announced that shareholders would be entitled to tender ordinary and
participating preference shares ("shares") in excess of their entitlement in
terms of the pro rata offer ("the excess tender"). The pro rata offer and
the excess tender are collectively referred to hereinafter as "the specific
repurchase".
2. Results of shareholder meetings
At the separate class meeting of participating preference shareholders and
the general meeting of shareholders held on Monday 16 July 2001, the
requisite resolutions proposed at such shareholder meetings authorising the
specific repurchase were passed by the requisite majority of shareholders.
The specific repurchase is accordingly unconditional.
3. Important dates and times
Shareholders wishing to participate in the specific repurchase should take
cognisance of the following dates and times:
2001
Specific repurchase closes at 16:00 Friday 27 July
Forms of acceptance and surrender
in envelopes postmarked
on or before Friday 27 July
2001 to be received by the transfer
secretaries by 12:00 Wednesday 1 August
Result of specific repurchase published Friday 3 August
Cheques in respect of offer
consideration mailed at the risk
of shareholders or cash
electronically transferred Friday 3 August
Document(s) of title in respect
of excess applications not taken
up by the board of directors and /
or balance certificates in respect
of the pro rata offer returned to
the shareholders concerned, by
registered mail, at the risk of
such shareholders Friday 3 August
Shareholders are referred to the circular mailed to shareholders on Saturday
23 June 2001, which sets out full details of the specific repurchase.
Johannesburg
17 July 2001
Investment bank and joint sponsor
Nedcor Investment Bank
Corporate adviser
KPMG
Corporate Finance
Joint sponsor
ENF Sponsor
ENF Sponsors (Pty) Ltd
(Registration number 2000/027636/07)
Corporate law advisers and consultants
Edward Nathan & Friedland
Edward Nathan & Friedland (Pty) Ltd
(Registration Number 1999/026464/07)
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.
