|
Billboard
Billboard Holdings Limited
(Registration number 1997/010984/06)
Share code : BLL ISIN code : ZAE000019089
("Billboard" or "the company")
The declaration of a final liquidation distribution, the
voluntary winding up of Billboard and its delisting from the
JSE Securities Exchange South Africa ("JSE")
Introduction
As set out in the circular to shareholders dated 7 September 2001,
subsequent to Billboard being transferred to the "Cash Companies" sector of
the JSE, the directors were permitted six months to actively pursue
alternative means of realising maximum value for shareholders.
The directors have now concluded that, since no value-enhancing
opportunities have presented themselves, the best alternative would be to
distribute any surplus cash (including interest) in the company to
shareholders, to voluntarily wind up the company and delist it from the JSE.
The liquidation distribution and the voluntary winding up
The directors have declared a liquidation distribution of 0.23083 cent per
Billboard share, which will be paid out of share capital (0.22053 cent) and
share premium (0.01030 cent). Existing documents of title to Billboard
shares do not need to be surrendered for shareholders to receive the
liquidation distribution. Such documents of title will have no value once
Billboard has been wound up.
The voluntary winding up will be undertaken in terms of sections 349 and 350
of the Companies Act, Act 61 of 1973, as amended.
The payment of the liquidation distribution and the voluntary winding up are
conditional upon :
- the approval by shareholders at the general meeting of the relevant
resolutions required to put the company into voluntary liquidation; and
- the registration of the special resolutions by the Registrar of Companies.
Important dates
2002
Billboard shares suspended from listing on Monday 22 April
the JSE
Last day for receipt of forms of proxy in
respect of the general meeting of Billboard Friday 12 July
shareholders by 09:00 on
General meeting of Billboard shareholders Monday 15 July
to be held at 09:00 on
Results of general meeting announced on Monday 15 July
SENS
Last day to trade Friday 26 July
Record date for payment of the liquidation Friday 2 August
distribution
Cheques posted/electronic payments Monday 5 August
implemented to certificated shareholders on
Dematerialised shareholders` accounts with Monday 5 August
their CSDPs or brokers credited
Billboard delisted from the JSE from the Tuesday 6 August
commencement of trading on
Shareholders may not dematerialise or rematerialise their Billboard shares
after Friday 19 July 2002.
The transfer secretaries will not process any off market trades conducted in
certificated Billboard shares after Friday 19 July 2002.
Any change in the above dates will be published on SENS.
Documentation
A circular setting out further details of the proposed final liquidation
distribution, the voluntary winding up of Billboard and its delisting from
the JSE will be posted to shareholders today.
Turfontein
21 June 2002
Transactional sponsor
Peregrine Corporate Advisory Services (Pty) Limited
Reporting accountants Legal advisors
and auditors
PricewaterhouseCoopers TW Ferguson
Chartered Accountants
(SA)
Date: 21/06/2002 03:44:05 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
