| Fri 21 Sep 2001, 0:00 | | Renaissance Retail Group Limited - Results Of Gene |
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Renaissance Retail Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/006790/06)
("Renaissance" or "the company")
Share code:RNS ISIN number:ZAE000014536
Results of general meeting;
Unbundling of shares;
Cash distribution; and
Suspension and termination of JSE Securities Exchange
South Africa ("JSE") listing.
1. RESULTS OF GENERAL MEETING
At the general meeting of the company held at 10:00 on Friday, 21 September
2001, the necessary ordinary and special resolutions were passed and, where
applicable, will be lodged for registration by the Registrar of Companies,
as soon as practicably possible, to approve:
1.1 the unbundling and distribution by Renaissance of 16 705 385 shares in
Relyant Retail Limited and 18 194 250 shares in Cycad Financial Holdings
Limited (hereinafter collectively referred to as "the unbundled shares"), by
way of a distribution in specie ("the unbundling") in terms of section 60 of
the Income Tax 113 of 1993, as amended;
1.2 the distribution by Renaissance of an advance liquidation dividend by
way of a cash payment of 55 cents per share, in anticipation of the winding-
up of the company,
to shareholders registered as such at the close of trading on the record
date, namely Friday, 28 September 2001 ("the qualifying shareholders"); and
1.3 the members' voluntary winding-up of the company in terms of sections
349 and 350 of the Companies Act 61 of 1973, as amended.
2. DISTRIBUTION OF UNBUNDLED SHARES AND CASH
Subject to registration of the special resolutions referred to in 1 above,
share certificates in respect of the unbundled shares and cheques in respect
of the cash distribution and fractional entitlements, where applicable, are
to be posted to qualifying shareholders on or about Monday, 1 October 2001.
3. JSE LISTING
Renaissance's listing on the JSE will be suspended with effect from the
commencement of trading on Wednesday, 26 September 2001 and will thereafter
be terminated with effect from the close of trading on Friday, 28 September
2001.
4. FINAL LIQUIDATION DISTRIBUTION
After payment of the advance liquidation dividend and the settlement of all
liabilities of Renaissance which may arise or become apparent during the
final winding-up process, and settlement of the costs associated with the
winding-up, the remaining cash, if any, will be distributed to qualifying
shareholders by way of a final liquidation distribution after confirmation
of the final liquidation and distribution account. Shareholders are,
however, unlikely to receive any amount as a final liquidation distribution.
Johannesburg
25 September 2001
Corporate and Legal Adviser
Nucleus Corporate Finance (Proprietary) Limited
(Registration number 1998/023924/07)
Auditors and Independent Reporting Accountants
Horwath Leveton Boner
Chartered Accountants (SA)
Lead Sponsor
Appleton Securities
Registration number 1998/021849/07
Corporate Finance
Member of the JSE Securities Exchange South Africa
Sponsor
BOE Securities (Proprietary) Limited
(Registration number 1996/015589/07)
