| Thu 4 Oct 2001, 0:00 | | Milprop - Results Of Separate Meeting Of Debenture |
|
Results of separate meeting of debenture holders and general meeting of
shareholders
The directors of Milprop hereby announce that at the separate meeting of
debenture holders and the general meeting of shareholders held on Tuesday, 2
October 2001, all the special and ordinary resolutions to implement the
restructuring proposals ("the proposals"), as detailed in the circular to
shareholders and debenture holders, dated 6 September 2001 ("the circular"),
were approved by the requisite majorities. The special resolutions passed by
shareholders at the general meeting have been lodged with the Registrar of
Companies for registration. Accordingly, the proposals will be implemented
and the directors' offer to shareholders to acquire the whole or any part of
their delinked shares at a price of 5 cents per share ("the directors'
offer") have become unconditional. The directors' offer closes at 16:00 on
Tuesday, 30 October 2001.
After the company has disposed of sufficient linked units in Redefine
Income Fund Limited ("Redefine linked units") to settle the long-term
liabilities of the company and its subsidiaries, an announcement will be
published in the press setting out the final distribution ratio of Redefine
linked units to debenture holders, the date of the distribution of Redefine
linked units to debenture holders and the date of the termination of the
company's listing from the JSE Securities Exchange South Africa.
Unitholders who wish to accept the directors' offer and who have not
already done so are requested to complete the form of acceptance and
surrender (blue) which was attached to the circular and submit it, together
with their relevant documents of title, to the transfer secretaries,
Computershare Services Limited, 4th Floor, Edura House, 41 Fox Street,
Johannesburg, 2001 (PO Box 61051, Marshalltown, 2107), in the case of linked
unitholders electing to receive certificated Redefine linked units or, in
the case of linked unitholders electing to receive dematerialised Redefine
linked units, to their CSDP or broker by not later than Tuesday, 30 October
2001.
Unitholders who do not wish to accept the directors' offer and who have
not already done so are requested to complete the form of surrender (white)
which was attached to the circular and submit it, together with their
relevant documents of title, to the transfer secretaries in the case of
linked unitholders electing to receive certificated Redefine linked units
or, in the case of linked unitholders electing to receive dematerialised
Redefine linked units, to their CSDP or broker.
Johannesburg
4 October 2001
Corporate advisor and sponsor
C&MA
Corporate & Merchant Advisors
(Registration number 1999/001229/06)
Independent advisor
Whistler Lambda Sponsor Services (Pty) Ltd
Registration number 2000/025913/07
Reporting accountants
KPA audit group
Registered accountants and auditors
Attorneys
LMA
Le Roux Meyer Assenmacher Inc
(Registration number 1995/002001/21)
