Results Of General Meeting And Finalisation Of Liq
RESULTS OF GENERAL MEETING AND FINALISATION OF LIQUIDATION OF VELOCITY
VELOCITY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1972/008877/06)
Share code: VLY
ISIN: ZAE000018156
("Velocity")
RESULTS OF GENERAL MEETING AND FINALISATION OF LIQUIDATION OF VELOCITY
At the general meeting of Velocity shareholders held on Wednesday, 21 August
2002, Velocity shareholders approved the resolutions necessary to:
- place Velocity in liquidation by way of a members` voluntary winding-up in
terms of sections 349 and 350 of the Companies Act; and
- make a cash distribution to shareholders in anticipation of the members`
voluntary winding-up of Velocity. The cash distribution will be 715 cents per
share ("the distribution").
The salient dates pertaining to the liquidation and the distribution are as
follows:
2002
Special resolutions lodged with Registrar
for registration Wednesday, 21 August
Last date to trade for participation in
the distribution Friday, 30 August
Suspension of listing on the
JSE Securities Exchange South Africa ("JSE")
with effect from commencement of trade Monday, 2 September
Record date for participation in the distribution Friday, 6 September
Date from which the dematerialised shareholders
will have the distribution credited to their
safe custody accounts in terms of the custody
agreement entered into between them and
their CSDP or broker Monday, 9 September
Date from which cheques in respect of the
distribution will be made available or
posted to certificated shareholders Monday, 9 September
Termination of Velocity`s listing on the
JSE with effect from commencement of business Tuesday, 10 September
Note: Share certificates may not be dematerialised or rematerialised after
Friday, 30 August 2002.
Johannesburg
21 August 2002
Investment bank and sponsor
PSG INVESTMENT BANK
Attorneys
FLUXMAN RABINOWITZ-RAPHAELY WEINER INC.
Sponsor
PRICEWATERHOUSECOOPERS CORPORATE FINANCE (PTY) LIMITED
Date: 21/08/2002 11:25:00 AM Produced by the JSE SENS Department
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