Proposed Rationalisation Of The Winbel Group: Resu
WINBEL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/009225/06)
Share code WNB ISIN ZAE000008025
("Winbel")
WINHOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1945/019679/06)
Share code WNH ISIN ZAE000008033
("Winhold")
GUNDLE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1942/015274/06)
Share code GDL ISIN ZAE000012530
("Gundle")
INMINS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1969/004321/06)
Share code INM ISIN ZAE000003588
("Inmins")
(collectively, "the Winbel Group")
PROPOSED RATIONALISATION OF THE WINBEL GROUP:
RESULTS OF SCHEME AND GENERAL MEETINGS
The boards of directors of the Winbel Group wish to advise shareholders
that, at the scheme and general meetings held on Monday 17 September 2001:
- all the resolutions proposed at the general meetings of Winbel and Winhold
were approved and have, where necessary, been registered by the Registrar of
Companies;
- the scheme proposed by Winhold to the shareholders of Gundle was approved
by the requisite majority of shareholders; and
- the scheme proposed by Winhold to the shareholders of Inmins was not
approved.
Shareholders are further advised that Winhold had, prior to the scheme
meetings, given written notice to Gundle and Inmins to the effect that
Winhold had elected to waive the condition relating to the approval and
sanction of either of the schemes in relation to the other of the schemes.
This rationalisation of the group will result in Winhold becoming the
ultimate holding company in the group, with Inmins retaining its listing as
a controlled subsidiary of Winhold.
Shareholders of Inmins who surrendered their documents of title in
anticipation of the Inmins scheme being approved will have such documents
posted to them in accordance with the conditions set out in the circular to
the shareholders of Inmins dated 24 August 2001.
A further announcement regarding the rationalisation will be published on
Friday 28 September 2001 after the application to the Court to sanction the
Gundle scheme.
Johannesburg
21 September 2001
Corporate adviser
LFS
Lanark Financial Services (Proprietary) Limited
(Registration number 1999/021799/07)
Auditors to the Winbel Group and
reporting accountants to Winbel and Winhold
PricewaterhouseCoopers Inc.
Chartered Accountants (SA)
Registered Accountants & Auditors
(Registration no. 1998/012055/21)
Attorneys
FRRW
Fluxman Rabinowitz - Raphaely Weiner Inc. Attorneys
www.frrw.co.za
Sponsor
LPC Manhattan Sponsors (Pty) Ltd
(Registration number 1999/024792/07)
Reporting accountants to Gundle and Inmins
Burn Reynolds & Co.
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.
