CYCAD FINANCIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/008637/06)
JSE Share code: CYD ISIN: ZAE000017729
("Cycad" or "the company")
Rights Offer Update
Shareholders are notified that at the annual general meeting of the company
held on Friday, 15 March 2002, all the resolutions proposed were unanimously
passed, including a resolution renewing the board of directors' authority,
in terms of section 221 of the Companies Act, 1973 (Act 61 of 1973), as
amended, to control the authorised but unissued shares of the company. The
aforegoing was one of the conditions to which the rights offer, as detailed
in the announcement dated 21 February 2002, was subject. As such, the rights
offer will proceed in accordance with the terms and salient dates, as
indicated in the above-mentioned announcement and in the circular sent to
shareholders on 11 March 2002.
Johannesburg
15 March 2002
Investment bank
Nedcor Investment Bank
Sponsor
Deutsche Securities
Member of the Deutsche Bank Group
Deutsche Securities (SA) (Proprietary) Limited
(Registration number 1995/011798/07)
Corporate law advisers and consultants
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & consultants
Attorneys
Werksmans Incorporated
(Registration number 1990/007215/21)
Auditors and reporting accountants
Fisher Hoffman PKF (Jhb) Inc.
Chartered Accountants (SA)
Registered Accountants & Auditors
(Registration number 1994/001166/21)
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