Relyant Retail Limited: Results Of General Meeting
RELYANT RETAIL LIMITED: RESULTS OF GENERAL MEETING
RELYANT RETAIL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1937/010108/06)
JSE Share code: RLY ISIN: ZAE000016457
("Relyant")
RESULTS OF GENERAL MEETING
A general meeting of Relyant ordinary shareholders was held on Friday, 7
June 2002 to consider the ordinary resolution relating to the disposal of
the microloan business of Relyant to Business Venture Investments No. 607
(Pty) Limited ("Newco"), to be owned jointly by Relyant and FirstRand Bank
Limited ("FirstRand") and the establishment of a shareholders` agreement
between Relyant, FirstRand and Newco in respect of the microloan business
("the transaction").
The ordinary resolution tabled at the general meeting was passed by the
requisite majority of Relyant ordinary shareholders and the transaction is
now only conditional upon:
- the approval of the Registrar of Banks as contemplated in terms of section
52 of the Banks Act; and
- registration of Newco with the Micro Finance Regulatory Council
Association ("MFRC") and to any such further approval by the MFRC as may be
required.
A further announcement will be published in due course informing Relyant
ordinary shareholders that the transaction has become unconditional or
otherwise.
Johannesburg
7 June 2002
Merchant bank to Relyant
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to Relyant
Investec Securities Limited
Member of the JSE
(Registration number. 1972/008905/06)
Reporting accountants and auditors to Relyant
Deloitte & Touche
Chartered Accountants (SA)
Registered accounts and auditors
Legal adviser to Relyant
Peter Dawe and Associates
Merchant bank to FirstRand
Rand Merchant Bank
A Division of FirstRand Bank Limited
Corporate Finance
Date: 07/06/2002 02:39:00 PM Produced by the SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
