Axiam Holdings - Results Of The Separate Meeting O
And The Annual General Meeting And Surrender Of Documents Of Title By
Minority Shareholders
Axiam Holdings Limited
(formerly TBB Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1997/020853/06)
Share code AXA ISIN ZAE000027777
("Axiam" or "the company")
RESULTS OF THE SEPARATE MEETING OF MINORITY SHAREHOLDERS AND THE ANNUAL
GENERAL MEETING AND SURRENDER OF DOCUMENTS OF TITLE BY MINORITY SHAREHOLDERS
1. Introduction
1.1 PSG Investment Bank Limited is authorised to announce that:
1.1.1 at the separate meeting of minority shareholders held on
Thursday, 20 December 2001, the requisite majority of minority shareholders
approved the conversion of their ordinary shares into an equal number of
redeemable preference shares and the redemption thereof at 100 cents per
share ("the redemption");
1.1.2 at the annual general meeting of shareholders held on
Thursday, 20 December 2001, the requisite majority of shareholders approved
all the resolutions proposed thereat;
1.1.3 the special resolutions necessary to implement the
redemption have been lodged for registration at the Registrar of Companies;
and
1.1.4 upon registration of the special resolutions, all the
conditions precedent relating to the redemption will be fulfilled.
2. Surrender of documents of title
2.1 If they have not already done so, minority shareholders are
requested to surrender their share certificates and/or other documents of
title to Axiam shares as soon as possible to:
Computershare Services Limited
2nd Floor
Edura House
41 Fox Street
Johannesburg 2001
(PO Box 61051, Marshalltown 2107)
in order to receive the redemption consideration of 100 cents per share.
Forms of surrender, together with this announcement, will be posted to
minority shareholders today.
2.2 Cheques in respect of the redemption consideration will be posted
by registered post at the risk of the minority shareholders concerned on
Monday, 24 December 2001, subject to the documents of title being
surrendered on or before Friday, 21 December 2001 at shareholders' risk.
Failing such surrender, cheque/s in respect of the redemption consideration
will be posted at minority shareholders' risk within five business days of
surrender of the relevant documents of title after that date.
2.3 Minority shareholders should note that should they wish to avail
themselves of electronic settlement, they should provide the transfer
secretaries with details of their bank accounts on the form of surrender to
be received by the transfer secretaries by not later than 16:00 on Friday,
21 December 2001, failing which payment will be made by cheque in terms of
paragraph 2.2.
2.4 In terms of the South African Exchange Control Regulations the
redemption consideration due to:
- non-resident minority shareholders will be deposited with a
nominated authorised dealer in foreign exchange; and
- emigrant minority shareholders will be deposited in the minority
shareholders' blocked account with the authorised dealer in foreign exchange
in South Africa controlling his/her blocked assets.
3. Delisting of Axiam shares
Following the implementation of the redemption, the listing of Axiam
shares on the JSE Securities Exchange South Africa will terminate at the
close of business on Monday, 24 December 2001.
Johannesburg
21 December 2001
Investment bank and joint sponsor to Axiam
PSG Investment Bank
Independent advisers to minority shareholders and lead sponsor
PricewaterhouseCoopers
Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
