Arcay Group Limited
(Registration number 1991/003944/06)
("Arcay Group" or "the Group")
JSE Code: ARC ISIN Code: ZAE000022406
RESULTS OF GENERAL MEETING REGARDING THE DELISTING OF ARCAY GROUP AND A SPECIFIC
REPURCHASE OF SHARES
The Board of directors announces that shareholders have approved the delisting
of Arcay Group ordinary shares at the general meeting of shareholders held on
Tuesday, 14 January 2003 ("the meeting"). The listing of Arcay Group ordinary
shares will be suspended from the commencement of business on Monday, 03
February 2003. The ordinary shares of the Group will be delisted from
commencement of business on Tuesday, 11 February 2003.
The specific offer to minority shareholders and the specific repurchase, which
were subject to the approval of the delisting and approved by shareholders at
the meeting, details of which are included in the circular to shareholders dated
20 December 2002, opens at 10h00 on Friday, 17 January 2003, and closes at 14h00
on Friday, 07 February 2003 ("record date"). The last day to trade in Arcay
Group shares is Friday, 31 January 2003. Share certificates may not be
dematerialised after Friday, 31 January 2003.
As a reminder to shareholders, a specific offer is to be made to the minority
shareholders in Arcay Group, for all or any part of their shares in the Group,
for a total consideration of 30 cents per share. The offer consideration is to
be settled in cash.
Certificated shareholders who wish to accept the offer should complete the form
of acceptance, surrender and transfer in respect of the offer. Dematerialised
shareholders who wish to accept the offer are required to notify their CSDP or
broker of their acceptance of the offer in the time and manner stipulated in the
agreement governing the relationship between the shareholder and the CSDP or
broker.
Shareholders who do not accept the offer will remain as shareholders in the
unlisted company.
Johannesburg
14 January 2003
Corporate advisor and joint Lead sponsor to transaction
sponsor and independent advisor to
minorities
Arcay Group Limited Sasfin Bank Limited
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