Results of general meeting concerning the disposal by Billboard of its
remaining businesses and assets and liabilities, a distribution to
shareholders by means of a capital reduction and the transfer of Billboard's
listing to the Cash Companies sector of the JSE Securities Exchange South
Africa
At the general meeting held on Tuesday 2 October 2001, shareholders approved
resolutions which will result in:
- the effective disposal by Billboard of its remaining businesses and assets
and liabilities to Global Exhibit and Events Limited ("Global") (a company
incorporated in the United Kingdom) for a cash consideration of R4,6 million
("the disposal");
- the distribution of R 3,6 million from the proceeds of the disposal to
shareholders ("the distribution"); and
- the listing of Billboard being transferred to the Cash Companies sector of
the JSE Securities Exchange South Africa.
Application has been made to the South African Reserve Bank ("SARB") for the
transfer of funds from Global. As soon as the timing for receipt of the
approval from the SARB has been clarified, a further announcement confirming
the dates for the distribution will be made.
Turffontein
3 October 2001
Sponsor
Peregrine Corporate Advisory Services (Pty) Ltd
Reporting accountants and auditors
PricewaterhouseCoopers
Chartered Accountants (SA)
Legal advisers
TW Ferguson
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