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Results Of The General Meeting Of CFC Ordinary Shareholders And CFC Preference
Shareholders
COMMERCIAL FINANCE COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Share code: CFC) (ISIN: ZAE 000001343)
(Registration number 1944/000264/06)
("CFC" or "the Company")
RESULTS OF THE GENERAL MEETING OF CFC ORDINARY SHAREHOLDERS AND CFC PREFERENCE
SHAREHOLDERS
INTRODUCTION
It was announced in the press on Tuesday, 19 November 2002 that the Board of
Directors of CFC has resolved to:
realise certain of the assets of CFC;
do a first distribution to CFC ordinary shareholders comprising approximately 2
000 cents per CFC ordinary share (approximately R203, 41 million in cash) and
1,67843 Mr Price Group Limited ("Mr Price") shares for every CFC ordinary share
held (17 070 342 Mr Price shares);
return capital and pay arrear dividends to CFC preference shareholders;
proceed with the realisation of the remaining assets of CFC in an orderly manner
following the first distribution and to distribute such assets and/or cash to
CFC ordinary shareholders in terms of the second distribution;
make application to the JSE Securities Exchange SA ("JSE") for the suspension
and delisting of the Company; and
propose a members` voluntary winding-up of CFC in terms of sections 349 and 350
of the Companies Act, 1973 (Act 61 of 1973), as amended, (collectively, "the
Transaction").
CFC shareholders are also referred to the CFC announcement that appeared on the
Stock Exchange News Service on Tuesday, 10 December 2002 confirming the first
distribution ratios and informing CFC shareholders of the distribution by the
Company, in specie, of its shareholding in HomeChoice Holdings Limited.
RESULTS OF THE GENERAL MEETING
At a general meeting of CFC held at 10:00 on Wednesday, 11 December 2002, all
the ordinary and special resolutions required to give effect to the Transaction
were duly passed by the requisite majorities and all special resolutions are in
the course of being submitted to the Registrar of Companies for registration.
Durban
11 December 2002
Corporate advisor Legal advisor to Sponsor to CFC
to CFC CFC
BoE Securities
A division of BoE Cox Yeats Attorneys (Proprietary) Limited
Bank Limited (Member of the JSE
(Co. Reg. No. Securities Exchange
1951/000847/06) South Africa)
(Registration number
1995/012240/07)
Reporting Transfer secretaries
accountants and to CFC
auditors to CFC
Computershare Investor
Ernst & Young Services Limited
(Registration number
1958/003546/06)
11th Floor
70 Marshall Street
Johannesburg 2001
(P O Box 1053, Jhb,
2000)
Date: 11/12/2002 02:33:00 PM Produced by the JSE SENS Department
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