| Wed 23 Oct 2002, 16:42 | | Chester - Results Of General Meeting And Remainin |
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Chester - Results of General Meeting and Remaining Salient Dates
CHESTER INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1983/005300/06)
Share code: CES ISIN: ZAE000013348
("Chester" )
RESULTS OF GENERAL MEETING AND REMAINING SALIENT DATES
1. RESULTS OF GENERAL MEETING
1.1 PSG Investment Bank Limited is authorised to announce that at the general
meeting of Chester shareholders held at 09:00 on Wednesday, 23 October 2002,
ordinary and special resolutions were passed by an overwhelming majority of
Chester shareholders to approve the termination of the listing of Chester`s
shares on the JSE Securities Exchange South Africa, ("the JSE") and to implement
the offer by Chester to all its shareholders to repurchase from shareholders all
or any of their Chester shares for a cash consideration of 85 cents per share
("the repurchase offer").
1.2 The special resolution passed at the general meeting has been lodged with
the Registrar of Companies for registration which is expected to be completed by
Friday, 25 October 2002 ("the registration"). Upon such registration the share
repurchase offer shall become unconditional. Should the registration not be
completed by Friday, 25 October 2002, the salient dates referred to in paragraph
2 below will have to be amended. Any such amendments will be announced on SENS
and in the press.
2. REMAINING SALIENT DATES
2002
Last day to trade Chester shares Friday, 1 November
to qualify to participate in the
repurchase offer
Listing of Chester shares on the Monday, 4 November
JSE suspended at the
commencement of trade
Repurchase offer closes at 16:00 Friday, 8 November
(see note 1)
Record date for determining Friday, 8 November
which Chester shareholders are
to remain shareholders in the
unlisted company
Subject to valid acceptance of Monday, 11 November
the repurchase offer by Friday,
8 November 2002, payment will be
made to shareholders at their
risk (see note 2)
Listing of Chester shares on the Tuesday, 12 November
JSE terminated at the
commencement of trade
Notes:
Dematerialised shareholders are required to notify their duly appointed Central
Securities Depository Participant ("CSDP") or broker of their acceptance of the
offer in the manner and time stipulated in the agreement governing the
relationship between the shareholder and his/her CSDP or broker.
Subject to the repurchase offer becoming unconditional, payment to shareholders
accepting the repurchase offer will be made within 7 days of valid acceptance of
the repurchase offer being received, but in any event no earlier than the
repurchase offer becoming unconditional. In the case of certificated
shareholders, such payment will be made by cheque or deposited directly into the
shareholders` bank account, at the risk of the shareholder concerned. In the
case of dematerialised shareholders, payment will be made by crediting their
account at the CSDP or broker, as agreed to between the shareholder and the CSDP
or broker.
Chester shares may not be dematerialised after Friday, 1 November 2002, but may
still be rematerialised after Friday, 8 November 2002.
3. FORM OF ACCEPTANCE AND SURRENDER
A form of acceptance and surrender for use by certificated shareholders was
contained in the circular to shareholders dated 1 October 2002. A copy of this
form for use by shareholders who have not yet completed same and are not in
possession of such form, is available from Computershare Investor Services
Limited or the company.
Johannesburg
23 October 2002
Investment bank and Reporting accountants and
sponsor independent adviser to Chester
shareholders
PSG INVESTMENT BANK FISHER HOFFMAN PKF (JHB) INC
Registration number
1994/001166/21
Chartered Accountants (SA)
Attorneys
Fluxmans Attorneys
Date: 23/10/2002 04:09:00 PM Produced by the JSE SENS Department
