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Metorex - RESULTS OF GENERAL MEETING AND FINALISATION INFORMATION RELATING TO
THE ODDLOT OFFER
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
Share code: MTX
ISIN code: ZAE0000 22745
Issuer code: MEMTX
("Metorex" or "the company")
RESULTS OF GENERAL MEETING AND FINALISATION INFORMATION RELATING TO THE ODDLOT
OFFER
1. Introduction
Shareholders are referred to the announcement dated 27 September 2002 and the
circular to shareholders dated 1 October 2002, which contain details of the
proposed oddlot offer to Metorex shareholders holding less than 100 shares
("oddlot holders") in Metorex at the close of business on Friday, 15 November
2002 ("the record date").
2. Results of general meeting
The special and ordinary resolutions required to give effect to the oddlot offer
were passed by the requisite majority of shareholders at the general meeting
held on Thursday, 31 October 2002. The special resolution will be lodged with
the Registrar of Companies for registration.
3. Offer price
The oddlot offer will be implemented at a price of 296 cents per share ("offer
price"), being the weighted average traded price of Metorex shares on the JSE
Securities Exchange South Africa over the 10 trading days ended Friday, 25
October 2002.
4. Mechanism of the oddlot offer
The oddlot offer will be implemented on the basis that oddlot holders may, up to
16h00 on Friday, 15 November 2002, elect:
- to sell their oddlot holdings at the offer price ("the cash alternative"); or
- to purchase a sufficient number of additional shares at the offer price in
order to increase their holdings to 100 shares ("the purchase alternative"); or
- to retain their oddlots.
The shares of oddlot holders who hold less than 100 shares on the record date
who do not make an election will be sold to those oddlot holders who elect the
purchase alternative or to Barnard Jacobs Mellet Private Client Services
(Proprietary) Limited, as the case may be.
To the extent that there are insufficient ordinary shares to satisfy the
requirements of those oddlot holders who elect the purchase alternative, Metorex
will issue new shares to the oddlot holders in question at the offer price.
5. Salient dates
The salient dates relative to the oddlot offer are set out below:
2002
Last day to trade in order to Friday, 8 November
participate in the oddlot offer
on
Shares trade ex-oddlot offer, Monday, 11 November
from the commencement of business
on
Election period for the oddlot Friday, 15 November
offer closes at 16h00 (see note 4
below) on
Forms of election for oddlot Friday, 15 November
offer to be received by the
transfer secretaries by 16h00 on
Record date to determine those Friday, 15 November
shareholders entitled to
participate in the oddlot offer
on
Implementation of the oddlot Friday, 15 November
offer takes effect after the
close of business on
New share certificates or cheques Monday, 18 November
in respect of certificated
shareholders posted against
surrender of existing documents
of title (where appropriate) from
CSDP / broker accounts of Monday, 18 November
dematerialised shareholders
debited / credited with any
amounts due / payable and the
shares reflected in those
accounts adjusted accordingly on
Notes:
1. All times shown are South African local times.
2. The above dates and times are subject to amendment. Any amendment will be
published in the press and via SENS.
3. No share certificates may be dematerialised or rematerialised between
Monday, 11 November 2002 and Friday, 15 November 2002, both days inclusive.
4. Dematerialised shareholders are required to notify their duly appointed
CSDP or broker of their acceptance or otherwise of the oddlot offer in the
manner stipulated in the agreement governing the relationship between the
shareholder and his CSDP or broker.
Johannesburg
31 October 2002
Sponsor
Barnard Jacobs Mellet Corporate Finance
(Pty) Limited
Date: 31/10/2002 11:16:18 AM Produced by the JSE SENS Department
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