Anglovaal Industries Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017201/06)
Share code : AVI
ISIN : ZAE000030102
("AVI", "the Group" or "the Company")
AVI - Results of General Meeting
At the fifty-seventh annual general meeting of shareholders held on
Wednesday, 10 October 2001, the requisite majority of AVI shareholders
approved the resolutions resulting in:
the authorisation of any acquisition by the Company, or any subsidiary of
the Company, of shares issued by it as the directors may deem fit;
the placement of the unissued share capital of the Company, excluding the 16
552 884 ordinary shares reserved for the purposes of The Anglovaal
Industries Limited Share Incentive Scheme, under the control of the
directors; and
the payment of directors and non-executive directors fees of the Company
being increased from R70 000 per annum to R160 000 per annum in respect of
the chairman and from R40 000 per annum to R50 000 per annum in respect of
the other non-executive directors.
Commenting on Group prospects, Basil Hersov, retiring Chairman of AVI, said
that he was pleased to report that AVI's earnings for the first quarter
showed growth in line with management expectations.
Johannesburg, 10 October 2001
Enquiries:
AVI : Tel: + 27 (0) 11 779 2702
Angus Band, Group Managing Director
www.avi.co.za
College Hill : Tel: + 27 (0) 11 447 3030
Julia Kerr
SCMB : Tel: + 27 (0) 11 636 0314
Fred Teeling-Smith
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