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Revised Listing Particulars
BEIGE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/006871/06)
Share code: BEG ISIN code: ZAE000013835
("Beige" or "the company")
RESULTS OF GENERAL MEETING, SURRENDER OF DOCUMENTS OF TITLE AND REVISED
LISTING PARTICULARS
1. Introduction
At the general meeting of shareholders held on Tuesday 25 September 2001,
the restructuring of Beige was approved by shareholders.
As Beige is now also in compliance with the continuing obligations
requirements of the JSE Securities Exchange South Africa ("the JSE"), the
JSE has agreed to lift the suspension of trading in Beige shares and to
transfer the listing to the Venture Capital Market with effect from the
commencement of trading on Monday, 8 October 2001.
2. Surrender of documents of title
Existing documents of title will not be good for settlement when trading
recommences on 8 October 2001.
Shareholders are therefore required to surrender their existing documents of
title in exchange for new documents reflecting the transfer of the listing
to the Venture Capital Market.
Those shareholders who have not already done so should surrender their
documents of title along with the form of surrender included in the circular
to shareholders dated 7 September 2001 in accordance with the instructions
contained therein.
A further circular incorporating a form of surrender will be posted to
shareholders on or about 5 October 2001.
3. Listing Particulars of Beige
The information set out below is not an invitation to the public to
subscribe for shares in Beige, but is issued in compliance with the Listings
Requirements of the JSE for the purpose of giving information to the public
with regard to Beige.
3.1. Nature of business
Beige manufactures and distributes cosmetics soaps and allied products.
Beige is the holding company for four principal operating subsidiaries:
- Argo Soap and Chemical Industries (Pty) Ltd;
- Beige Cosmetics (Pty) Ltd;
- Specialty Formulas (Pty) Ltd; and
- Sponge Textures (Pty) Ltd.
3.2 Prospects
Strategies are in place to optimise the turnovers of all the ongoing
concerns. The directors are of the opinion that by investing in more modern
plant, production capacities will be increased and the resultant
efficiencies will allow products to be priced more competitively. It is also
the intention to expand the range of products by entering into marketing and
manufacturing agreements with other producers in the cosmetics field.
3.3 Directors
The full names, ages and occupations of the directors are as follows:
Name Age Occupation
Executive
J H Rawlings 63 Managing Director - Specialty Formulas (Pty) Ltd
Chief Executive Officer - Beige
I L Stromin 65 Managing Director - Argo Soap & Chemical Industries
Non - executive Pty) Ltd
K D D
de Villiers 53 Chief Executive Officer - Arcay Group Limited
Chairman - Beige
L I Karp 55 Independent Financial Consultant
L M Mojela 45 Chief Executive Officer - Women's Investment Holdings
Limited
3.4 Profit history and forecast
The proforma historical consolidated income statement of the continuing
operations of Beige for the year ended 28 February 2001 and the forecast
income statement for the year ending 28 February 2002 are presented below:
Forecast Proforma
28 February 2002 28 February 2001
(R'000) (R'000)
Revenue 36 300 30 588
Gross Profit 13 370 10 362
Net income / (loss) before
interest and taxation 552 (4 913)
Net interest paid (305) (818)
Net income / (loss)
before taxation 247 (5 731)
Taxation - 82
Net income / (loss)
after taxation 247 (5 649)
Earnings /(loss) per
share (cents) 0,27 (6,23)
Headline loss per
share (cents) (0,15) (5,37)
Diluted earnings / (loss)
per share 0,42 (6,23)
Net asset value per
share (cents) 0,53
Net tangible asset value
per share (cents) 0,53
JOHANNESBURG
4 OCTOBER 2001
MERCHANT BANK AND SPONSOR AUDITORS AND REPORTING ACCOUNTANTS
Sasfin Bank Limited KPMG
(Registration number 1951/002280/06)
CORPORATE ADVISOR
Arcay Group Limited
(Registration number 1991/003944/06)
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