Results Of General Meeting Of Arcay Group Debentur
Results of General Meeting of Arcay Group Debentureholders
At the meeting of debentureholders held on 26 November 2001, the
debentureholders resolved to adjourn the meeting, as provided for in terms
of the debenture trust deed, to a date and place to be notified to
debentureholders on at least ten business days notice. This adjournment
will enable the trustee, representing the debentureholders, to enter into
negotiations with the Company in order to ascertain whether the Company
would be willing to increase the offer of 165 cents per debenture, as
referred to in the circular to debentureholders dated 02 November 2001 ("the
circular").
In the circumstances, the resolutions contained in the notice of meeting
were not put to the debentureholders. As a result, the offers contained in
the circular remain conditional.
A further circular will be sent to debentureholders once the negotiations
between the trustee and the Company have taken place, advising of the
outcome of such negotiations. The circular will contain the new dates for
the offer and the enhanced price and revised terms, if any.
By order of the Board
Arcay Client Support (Pty) Ltd
(Reg No 1998/025284/07)
Company Secretary
Parktown
26 November 2001
Corporate Advisor: Whistler Trustee for debentureholders:
Edward Nathan (Pty) Limited
Sponsor: KPMG Services Lawyers: Cliffe Dekker Fuller Moore Inc.
Reporting Accountants: KPMG Inc. Investor Relations: Arcay Financial
Communications
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