APEXHI PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/000238/06)
Share code:APB ISIN code: ZAE000033072
Share code:APA ISIN code: ZAE000033064
("ApexHi")
Results Of The General Meeting
Corpcapital Corporate Finance is authorised to announce that, at the general
meetings of the ApexHi shareholders and debenture holders held on Monday, 27
August 2001, the ApexHi shareholders and debenture holders voted unanimously
in favour of the resolutions necessary to:
* ratify the conclusion by ApexHi of the Streicher acquisition, the Compass
acquisition, the ABSA acquisition and the Redefine acquisition;
* allow the directors to allot and issue 1 181 287 ApexHi "A" linked units
and 1 181 287 ApexHi "B" linked units, at a price of R6,00 per "A" linked
unit and R4,00 per "B" linked unit to Corpcapital Bank Limited in settlement
of a brokerage fee; and
* grant the directors a general authority to issue ApexHi linked units for
cash as and when suitable opportunities arise.
The ABSA, Redefine and Compass acquisitions are still subject to the
approval of the Competition Commission. In addition, the Compass acquisition
is still subject to the securing of all necessary approvals of Compass
shareholders and debenture holders and to the scheme of arrangement between
Compass and its shareholders (the details of which are contained in the
Compass announcement published on 24 July 2001) being implemented.
Other than as set out above, all of the conditions precedent to which the
acquisitions detailed in the announcement on 24 July 2001 ("the
acquisitions") were subject, have been fulfilled.
The ApexHi "A" and "B" linked units to be issued in consideration for the
acquisitions will be listed on the JSE Securities Exchange South Africa as
the properties in question are transferred to and registered in the name of
ApexHi.
Johannesburg
29 August 2001
Corporate advisor and sponsor
Corpcapital Corporate Finance
Transaction support
Corpcapital Transaction Support
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