| Wed 9 Jan 2002, 0:00 | | Capestar - Results Of The Annual General Meeting A |
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Results of the annual general meeting and delisting of CapeStar
1. Results of the annual general meeting
At the annual general meeting of CapeStar shareholders held on Tuesday, 8
January 2002, all the special and ordinary resolutions proposed were passed
and, where applicable will be lodged for registration by the Registrar of
Companies, as soon as practicably possible, to approve, inter alia,:
* the disposal by CapeStar of its only remaining portfolio investment being
its 36.1% stake in Amalda Trading (Pty) Limited, trading as Peoples
Furnishers to Brait Investments (Pty) Limited;
* the distribution of an advance liquidation dividend by way of a payment of
45 cents per CapeStar share, in anticipation of the winding up of CapeStar
("advance liquidation dividend");
* the suspension and termination of the listing of CapeStar on the JSE
Securities Exchange South Africa ("JSE");
* the voluntary winding-up of CapeStar; and
* the appointment of a liquidator of Capestar.
2. Liquidation distributions
The advance liquidation dividend is expected to be paid on Monday, 28
January 2002 to CapeStar shareholders recorded in the register as such at
the close of trading on Friday, 25 January 2002, the last day to trade being
Friday, 18 January 2002. The advance liquidation dividend will be
transferred electronically to CapeStar shareholders' bank accounts or, in
the absence of suitable mandates, cheques will be posted to CapeStar
shareholders by ordinary mail, at the risk of the CapeStar shareholders
concerned, to the addresses reflected in the register of CapeStar
shareholders in respect of certificated shareholders.
The balance of cash held by CapeStar, after all liabilities, liquidation
costs and all normal taxes have been settled, will be distributed as a final
liquidation dividend to CapeStar shareholders. The final liquidation
dividend, which is expected to be 4 cents per CapeStar share, ("final
liquidation dividend") will be transferred electronically to CapeStar
shareholders' bank accounts in respect of certificated shareholders or, in
the absence of suitable mandates, cheques will be posted to CapeStar
shareholders by ordinary mail, at the risk of the CapeStar shareholders
concerned, to the addresses reflected in the register of CapeStar
shareholders and will take place as soon as possible after the voluntary
winding-up of CapeStar was finalised to the satisfaction of the Master of
the High Court of South Africa.
If CapeStar shareholders have dematerialised their shares with a Central
Securities Depository Participant ("CSDP") or broker, advance liquidation
dividends and final liquidation dividends will be transferred to such CSDP's
or brokers and these payments will be transferred to CapeStar shareholders
in terms of the agreement entered into between the shareholder concerned and
the CSDP or broker.
3. JSE Listing
The listing of Capestar shares on the JSE is expected to be suspended with
the effect from the commencement of trading on Monday, 21 January 2002, and
terminated at the commencement of trading on Monday 28 January 2002.
Johannesburg
10 January 2002
Corporate advisor and sponsor
Brait
Auditors and reporting accountants
Deloitte & Touche
Chartered Accountants (SA)
Registered accountants and auditors
(Registration No. 19/0/21)
