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Servest/AMB Partners - Results of the general meeting and withdrawal of
cautionary announcement
Servest Holdings Limited AMB Private Equity Partners
(Incorporated in the Republic of Limited
South Africa) (Incorporated in the Republic of
(Registration number South Africa)
1986/000785/06) (Registration number
Share code: SRV 1998/015329/06)
ISIN: ZAE000015806 Share code: APP
("Servest" or "the company") ISIN: ZAE000026936
("AMB Partners")
Results of the general meeting and withdrawal of cautionary announcement
1. RESULTS OF THE GENERAL MEETING
Nedcor Investment Bank Limited and African Merchant Bank Limited are authorised
to announce that all the ordinary and special resolutions, including those
required to approve, inter alia:
- the sale by Servest for cash of its investment in Servest (Proprietary)
Limited ("the sale") to a consortium led by AMB Partners, in accordance with
section 228 of the Companies Act, 1973 (Act 61 of 1973), as amended ("the
Companies Act");
- the distribution to shareholders of Servest of the proceeds of the sale
together with residual cash remaining within Servest; and
- the delisting, the payment of a final liquidation dividend and the
winding-up of the company,
- were unanimously passed by the shareholders of Servest at the general
meeting of Servest shareholders held on 9 September 2002.
2. PAYMENT OF THE INITIAL DISTRIBUTION
At the instance of Servest shareholders present at the general meeting the
initial distribution of 89 cents per share was paid on 9 September 2002 to
Edward Nathan & Friedland (Pty) Ltd to be held in trust by Edward Nathan &
Friedland (Pty) Ltd on behalf of Servest shareholders and to be invested in an
interest-bearing trust account for the benefit of Servest shareholders. Certain
of the resolutions contained in the circular sent to shareholders were modified
in the general meeting to effect this expedited payment. Payment of this
amount, together with interest earned thereon, will be made to Servest
shareholders in terms of the timetable in paragraph 0 below and after the
registration by the Registrar of Companies of the special resolution relating to
the proposed amendment to the articles of association which was approved by
Servest shareholders at the general meeting.
3. IMPORTANT DATES AND TIMES
The following dates and times will now apply:
2002
Last day to trade in Servest shares on the JSE Wednesday 11
Securities Exchange South Africa ("JSE") in September
order to be entitled to receive the initial
distribution and any further distributions on
Date of suspension of the listing of Servest on Thursday 12
the JSE from the commencement of trade on September
Record date to be recorded on the register to Wednesday 18
receive the initial distribution and any September
further distributions on
Date of payment of the initial distribution on Thursday 19
September
Termination of listing at commencement of trade Friday 20
on September
Note: Share certificates may not be dematerialised or rematerialised after
Wednesday 11 September 2002.
4. WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders of Servest are referred to the cautionary announcements dated 28
May, 5 July, 23 July, 7 August, 15 August and 3 September 2002, and are advised
that as the sale has been approved by Servest shareholders and as no alternative
offer can now be entertained, caution is no longer required.
JOHANNESBURG
9 September 2002
Investment Corporate Merchant Attorneys to Lead sponsor to
bank, law advisers bank and AMB Partners AMB Partners
independen and joint
t adviser consultants sponsor to Webber Deloitte &
and to Servest AMB Partners Wentzel Touche Sponsor
transactio Services (Pty)
n sponsor Edward AMB Limited
to Servest Nathan &
Friedland
Nedcor
Investment
Bank
Date: 09/09/2002 05:52:40 PM Produced by the JSE SENS Department
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