Gilboa Properties Limited - Results Of General Mee
Gilboa Properties Limited
(Registration number 1986/004649/06)
("Gilboa" or "the Company")
Share Code: GLB ISIN No. ZAE 000010286
RESULTS OF GENERAL MEETING
Shareholders are advised that the resolution relating to a specific issue of
shares for cash to the South African Export Development Fund ("SAEDF") was
approved by the requisite majority at the General Meeting of shareholders of
the company held on 3 May 2002 ("the General Meeting").
In terms of the agreement between Gilboa and SAEDF, SAEDF is to subscribe
for Gilboa ordinary shares to the value of R 1 million. The price at which
the ordinary shares will be issued was determined by applying a 10% discount
to the weighted average price at which Gilboa shares traded on the JSE
Securities Exchange South Africa ("the JSE") over the 30 business days
preceding the date of the General Meeting.
The issue price, calculated in accordance with the above, is 12.6402 cents
per ordinary share and accordingly 7 911 267 ordinary shares will be issued
to SAEDF. Application will be made to the JSE for the listing of these
shares.
Pretoria
3 May 2002
Sponsor
Sasfin Bank Limited
(Registration no 1951/002280/06)
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