Results Of Meeting And Surrender Of Share Certific
Results of meeting and surrender of share certificates
1. Results of meeting
Rand Merchant Bank is authorised to announce that at the general meeting of
ELB shareholders held on Monday 7 January 2002, the requisite majority of
shareholders passed the necessary resolutions to give effect to:
the disposal by ELB of its 66% shareholding in Bateman Project Holdings
Limited ("Batepro") ("the disposal"); and
the change of name of ELB to "ELB Group Limited".
2. Condition precedent
The disposal is conditional upon the implementation of the scheme of
arrangement proposed by Charton Investments Limited between Batepro and its
shareholders ("the scheme"), which was approved by the requisite majority of
Batepro shareholders at a scheme meeting held on Monday 7 January 2002. The
scheme is conditional upon the sanction of the High Court of South Africa,
the approval of the Competition Commission and the registration of the Order
of Court by the Registrar of Companies.
It is anticipated that the salient dates relating to the disposal, as set
out in the circular to ELB shareholders, will be amended. In this regard ELB
shareholders are referred to the announcement to Batepro shareholders which
appears elsewhere in this publication, and will be advised as soon as
possible of the expected date of implementation of the scheme and the
disposal.
3. Change of name
The special resolution pertaining to the change of name has been lodged with
the Registrar of Companies for registration. Provided that the disposal is
implemented, ELB Group Limited's shares will trade on the JSE Securities
Exchange South Africa under the alpha code ELR and the short name ELBGROUP
with effect from the date on which the disposal is implemented. ELB
shareholders will be advised of this date as soon as possible.
4. Surrender of share certificates
Holders of certificated shares are requested to surrender their share
certificates or other documents of title in respect of their ELB shares,
together with a correctly completed form of surrender, in order to receive
new ELB Group Limited share certificates. Surrender forms were included in
the circular posted to shareholders on 30 November 2001, and further
surrender forms will be included in the surrender circular to be posted to
shareholders as soon as the disposal is implemented.
Boksburg
9 January 2002
Adviser and sponsor to ELB
RAND MERCHANT BANK
CORPORATE FINANCE
A Division of FirstRand Limited
Attorneys to ELB
WERKSMANS
INCORPORATED
(Registration number 1990/007215/21)
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