| Mon 30 Sep 2002, 18:12 | | Dectronic Limited - Announcement |
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DECTRONIC LIMITED - ANNOUNCEMENT
Dectronic Limited
(to be renamed AVASA Holdings Limited)
(Incorporated in the Republic of South Africa)
Registration number 1998/013637/06)
(Share code: DTR ISIN: ZAE000016754)
("Dectronic" or "the company")
Results of general meeting: specific issues of shares for cash and matters
related thereto
1. INTRODUCTION
The board of directors of the company wishes to advise shareholders that all
the resolutions proposed at the general meeting of the shareholders of the
company held on Monday, 30 September 2002 were approved by the requisite
majority of shareholders and have, where necessary, been registered by the
Registrar of Companies.
2. LISTING ON THE JSE SECURITIES EXCHANGE SOUTH AFRICA ("the JSE") AND SALIENT
DATES
The listing of AVASA Holdings Limited on the JSE will commence from the
commencement of trading on Monday 14 October 2002, from which date the
additional shares issued in terms of the transaction will be listed, the shares
repurchased and cancelled will be delisted and the change of name of the company
will become effective.
In addition, the attention of shareholders is drawn to the following salient
dates:
Last day to trade in existing Dectronic
ordinary shares Friday 11 October 2002
Listing of the additional shares to be issued
in terms of the transaction from the
commencement of trading on Monday 14 October 2002
Delisting of the shares to be repurchased and
cancelled in terms of the transaction from
the commencement of trading on Monday 14 October 2002
Record Date Friday 18 October 2002
Dematerialised shareholders` custody accounts
amended to reflect the change of name
of the company Monday 21 October 2002
Replacement share certificates reflecting the change
of name of the company posted to certificated
shareholders who have surrendered their
documents of title on or before the record
date (Friday 18 October 2002) (or failing such
surrender, within five business days of surrender) Monday 21 October 2002
The attention of certificated shareholders is drawn to the fact that,
notwithstanding that the company is now settling trades through the STRATE
settlement system, such shareholders will receive a share certificate reflecting
the change of name of the company and will be required to dematerialise such
share certificates in order to trade their shares on the JSE. The
dematerialisation process can take between 24 hours and 10 days, depending on
the volumes being processed by STRATE at the time of dematerialisation. Share
certificates in the "old" name may not be dematerialised or rematerialised after
Friday, 11 October 2002.
3 SURRENDER OF SHARE CERTIFICATES
3.1 Certificated shareholders in the company who have not already done so
are requested to surrender their share certificates in order to receive new
share certificates reflecting the change of name of the company.
3.2 A surrender circular incorporating a form of surrender will be
despatched to the relevant shareholders on Tuesday, 1 October 2002. The form of
surrender must be completed by all certificated shareholders and returned,
together with relevant share certificate/s and/or other document/s of title, to
Computershare Investor Services Limited, Exchanges Department, 11th Floor, 70
Marshall Street, Johannesburg 2001 (PO Box 1053, Johannesburg 2000). The
transfer secretaries will send a share certificate reflecting the change of name
of the company by registered mail to the address of the shareholder concerned as
shown in the company`s register of shareholders, or to any other address as
instructed in writing. Share certificates will be posted on Monday, 21 October
2002, if the documents of title have been surrendered by Friday, 18 October
2002, or within five business days of receipt of such document/s of title if
surrendered after Friday, 18 October 2002. This does not apply to dematerialised
shareholders who will have their electronic record of holdings automatically
updated by their Central Securities Depository Participant ("CSDP") or broker.
3.3 In terms of the exchange control regulations of the Republic of South
Africa, documents of title to be issued to:
3.3.1 non-resident or emigrant shareholders will be restrictively
endorsed in terms of those regulations; and
3.3.2 emigrant shareholders will be placed under the control of the
authorised bank dealing in foreign exchange in the Republic of South Africa
nominated by that shareholder. It follows therefore that the authorised dealer
releasing blocked shares must countersign the form of surrender, thereby
indicating that the new share statements will be placed under their control.
3.4 New share certificates will not be despatched to certificated
shareholders before such shareholders have surrendered their existing
certificate/s in respect of the shares held by them, provided that if any
shareholder produces evidence to the satisfaction of the company that the
certificate in respect of any shares has been lost or destroyed, the company may
dispense with the surrender of such certificate against the provision of an
indemnity acceptable to the company, the costs of which indemnity shall be borne
by the shareholder concerned. This does not apply to dematerialised shareholders
as their CSDP or broker will automatically handle this on their behalf.
By order of the board.
Johannesburg
30 September 2002
Corporate advisors
Radagast Capital (Pty) Ltd
(Registration number 2000/030942/07)
Attorneys to AVSAM
S&W
Sponsor
LPC MANHATTAN SPONSORS (PTY) LTD
(Registration number 1999/024792/07)
Auditors and reporting accountants
Compendium (Pretoria) Incorporated
(Registration number 2000/004461/21)
Date: 30/09/2002 05:31:00 PM Produced by the JSE SENS Department
