Control Instruments Group Limited - Results Of Gen
CONTROL INSTRUMENTS GROUP LIMITED - RESULTS OF GENERAL MEETING RELATING TO THE
SPECIFIC REPURCHASE
CONTROL INSTRUMENTS GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1964/003987/06)
Share code: CNL
ISIN code :ZAE000001665
("Control" or "the company")
RESULTS OF GENERAL MEETING RELATING TO THE SPECIFIC REPURCHASE
It was announced in the press on 9 December 2002 that Control had entered into
an agreement with the trustees for the time being of the Basil Hersov Family
Trust ("the Trust"), the beneficial owner of 12 050 159 Control shares, and
Control Instruments Management Services (Proprietary) Limited ("CIMS"), in terms
of which:
* Control will repurchase, via CIMS, 8 000 000 Control shares held by the Trust
at 100 cents per share;
* the balance of the Trust`s holding (i.e. 4 050 159 Control shares) or a
portion thereof will be sold by the Trust at 100 cents per share to a third
party or parties;
* any Control shares not sold by the Trust to a third party or parties will be
repurchased by Control at 100 cents per share and subsequently cancelled and
delisted from the JSE Securities Exchange South Africa ("JSE").
The directors are pleased to advise that:
* At the general meeting of Control shareholders held on 6 January 2003, the
special and ordinary resolutions required to give effect to the above were
approved by the requisite majority. The special resolutions have been lodged
with the Registrar of Companies for registration.
* Of the balance of 4 050 159 Control shares, 1 832 283 were sold to third
parties and 2 217 876 were repurchased by Control. It is anticipated that the
2 217 876 shares repurchased by Control will be cancelled and delisted from the
JSE with effect from the commencement of business on Monday, 13 January 2003.
Cape Town
6 January 2003
INDEPENDENT REPORTING ACCOUNTANTS LEGAL ADVISER
ADVISER AND PricewaterhouseCoopers Jan S de Villiers
SPONSOR Inc
Barnard Jacobs
Mellet Corporate
Finance (Pty)
Limited
Date: 06/01/2003 12:15:39 PM Produced by the JSE SENS Department
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