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Explorer Corporation Holdings Limited - Results Of General Meeting
Explorer Corporation Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/010950/06)
SHARE CODE: EPL ISIN: ZAE000017489
("Explorer")
RESULTS OF GENERAL MEETING
1. INTRODUCTION
Sasfin Bank Limited is authorised to announce that the requisite majorities
of shareholders approved all resolutions proposed at the General Meeting of
Explorer shareholders held on Friday, 28 June 2002. The Registrar of
Companies has registered the special resolutions.
Explorer`s authorised capital has accordingly been increased from
R5 000 000, divided into 500 000 000 ordinary shares of 1 cent each, to
R20 000 000, divided into 2 000 000 000 ordinary shares of 1 cent each, and
the authorised and issued share capital of Explorer consolidated on a 1-for-
10 basis.
Subject to Exchange Control approval for the acquisition being obtained,
Explorer will issue 85 800 000 consolidated ordinary shares to Loita Capital
Partners International Limited in consideration for the acquisition of the
shares in Industrial Credit Company Limited ("ICC"), a company incorporated
in Zambia.
2. IMPORTANT DATES
The last date to trade in existing Explorer shares will be Friday, 12 July
2002.
The new capital structure, with International Securities Identification
Number (ISIN) ZAE000039970, will be listed on the JSE Securities Exchange
South Africa with effect from the commencement of business on Monday, 15
July 2002.
The record date will be Friday, 19 July 2002.
CSDP accounts will be adjusted, and new certificates posted to certificated
shareholders who have surrendered their documents of title on or before
Friday, 19 July 2002, on Monday, 22 July 2002.
Share certificates for pre-consolidation shares may not be dematerialised or
rematerialised after Friday, 5 July 2002.
3. ACTION REQUIRED
Existing documents of title in respect of Explorer shares will not be
recognised for trading purposes from the commencement of business on Monday
15 July 2002, when the new capital structure will be listed, but must be
surrendered in exchange for new share certificates reflecting the
consolidation.
Shareholders who hold their shares in certificated form and who have not
already done so are therefore requested to surrender their documents of
title as soon as possible to the transfer secretaries, Computershare
Investor Services Limited. In this regard, an additional circular will be
posted to shareholders on or about Monday, 15 July 2002 and will contain a
further form of surrender.
Shareholders who hold their shares in dematerialised form do not have to
take any action in respect of the surrender of documents of title.
Johannesburg
3 July 2002
Merchant bank and sponsor Auditors to & reporting Corporate and
accountants for Explorer legal advisor
Sasfin Bank Limited Ernst & Young Nucleus Corporate
Chartered Accountants (SA) Finance (Pty) Ltd
Independent advisor to Independent advisors to the Reporting accountants
minority shareholders board of directors of for ICC
Explorer
Ernst & Young Corporate Deloitte & Touche PricewaterhouseCoopers
Finance (Pty) Ltd Corporate Finance Inc
Date: 03/07/2002 05:16:25 PM Produced by the SENS Department
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