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BRAINWARE LIMITED - ANNOUNCEMENT OF RESULTS OF GENERAL MEETING, ANNUAL GENERAL
MEETING, AMENDMENT OF LISTING AND WITHDRAWAL OF CAUTIONARY
Brainware Limited
(Registration number 1997/006894/06)
Share code: BRW
ISIN code: ZAE000018289
("Brainware")
ANNOUNCEMENT OF RESULTS OF GENERAL MEETING, ANNUAL GENERAL MEETING, AMENDMENT OF
LISTING AND WITHDRAWAL OF CAUTIONARY
GENERAL MEETING
Quaestor Capital (Proprietary) Limited is authorised to announce that, at a
general meeting of Brainware shareholders held on Friday, 6 September 2002,
certain special and ordinary resolutions were passed in terms of which effect
was given to, inter alia;
- the acquisition by Brainware of the entire issued share capital of Southern
Electricity Company (Proprietary) Limited;
- a specific authority to the directors of Brainware to repurchase 16 115 205
Brainware shares from the Brainware Employee Share Incentive Scheme for an
aggregate consideration of R1,00;
- the adoption of a new employee share incentive scheme;
- the consolidation of Brainware`s authorised and issued share capital on a 1
for-50 basis ("the consolidation");
- the change of Brainware`s name to Southern Electricity Company Limited with
effect from Monday, 16 September 2002; and
- the reconstitution of the board of directors in order to comprise Messrs
Chris Bosch (chief executive officer), Pierre Jacobs (managing director), Fred
Sekandi, Retief Ueckermann, Allen van Zyl and Mrs Ilze Bosch.
All relevant special resolutions will be submitted today for registration by the
Registrar of Companies.
AMENDMENT OF LISTING AND SURRENDER CIRCULAR
The listing of Brainware`s shares on the JSE Securities Exchange South Africa
will be transferred from the "Investment Companies" sector to the "Venture
Capital Market - Electricity" board with effect from the commencement of
business on Monday, 16 September 2002. The change of name to Southern
Electricity Company Limited (abbreviation "SELCo", share code "SLO") and the
consolidation will also become effective on that date.
A surrender circular will be posted on Monday, 9 September 2002 to all Brainware
shareholders who have not yet dematerialised their Brainware shares or submitted
their existing Brainware share certificates in exchange for new share
certificates bearing the new name of the company and reflecting the
consolidation.
ANNUAL GENERAL MEETING
All the ordinary resolutions contained in the Notice of the annual general
meeting dated 15 August 2002 have been passed by way of a unanimous vote of
shareholders at the annual general meeting held in Centurion on Friday, 6
September 2002.
WITHDRAWAL OF CAUTIONARY
As a result of the approval of the abovementioned resolutions, shareholders no
longer need to exercise caution when dealing in their Brainware securities.
Centurion
6 September 2002
CORPORATE ADVISOR AND SPONSOR
Quaestor Capital (PTY) LTD
Registration number 1991/007330/07
Date: 06/09/2002 04:56:10 PM Produced by the JSE SENS Department
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