Glodina Holdings Limited - Results Of General Meet
GLODINA HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/004150/06)
Share code : GDA
ISIN Code : ZAE000002937
("Glodina" or "the company")
Result of general meeting
General meeting
Rand Merchant Bank is authorised to announce that at the general meeting of
shareholders held on 21 February 2002, the requisite majority of
shareholders passed the ordinary and special resolutions to give effect to:
* the merger of all the assets and liabilities of Glodina with those of
Hellierwood Investment Holdings (Proprietary) Limited ("the merger"); and
* the increase in the authorised share capital of Glodina.
The special resolution relating to the increase in the authorised share
capital has been submitted to the Registrar of Companies for registration.
The merger is still subject to approval by the Competition Commission, which
approval is expected on Wednesday 24 April 2002. An announcement in this
regard will be published as soon as the Competition Commission has notified
the company of its ruling on the merger.
The offer
Shareholders are reminded that Daun & Cie AG. and Paul Schouten have made an
offer to the minority shareholders of Glodina to purchase their shares for 7
cents per share ("the offer"). The offer is subject to approval by the
Competition Commission.
The offer opened on Tuesday 29 January 2002 and will close two weeks after
the Competition Commission has approved the offer, which approval is
expected on Wednesday 24 April 2002. An announcement in this regard will be
published as soon as the Competition Commission has notified the company of
its ruling on the offer. If Competition Commission approval is obtained
before or after Wednesday 24 April 2002, the closing date will be adjusted
accordingly.
Hammarsdale
21 February 2002
Merchant Bank and transactional sponsor
RAND MERCHANT BANK
A division of FirstRand Bank Limited
CORPORATE FINANCE
Independent adviser
Deloitte & Touche
Corporate Finance
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
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