iProp - Notice of Intention to Propose a Further A
iProp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/001239/06)
Share Code: IPR ISIN: ZAE 000018867
("iProp" or "the company")
Notice of intention to propose a further adjournment of the general meeting
Shareholders are referred to the announcement published on SENS on Wednesday 12
March 2003 advising of the adjournment of the general meeting, convened on that
day for the purposes of voting on the disposal of the assets and liabilities of
iProp to Clidet No 433 (Pty) Limited, a company owned and controlled by members
of the executive management team of iProp, pursuant to the delivery of a second
offer from Rowan Tree 4 (Pty) Limited ("Rowan Tree"), a wholly owned subsidiary
of Mettle Limited ("the Rowan Tree offer").
At the time of the adjournment, the Rowan Tree offer was due to expire if not
accepted by the company on Wednesday 26 March 2003. Several critical matters
relating to the Rowan Tree offer are in the process of being clarified in order
for the board to be confident of the recommendation it makes to shareholders.
The board expects to receive a revised offer from Rowan Tree shortly and the
expiry date for acceptance of such revised offer has therefore been extended to
Friday 4 April 2003.
The board will accordingly be proposing a further adjournment at the meeting
convened to be held at The Grace In Rosebank at 09:30 on Wednesday 26 March 2003
("the first adjourned meeting"). The expected time and date for the second
adjourned meeting is 09:30 on Friday 4 April 2003. This will be confirmed in an
announcement to shareholders on Wednesday 26 March 2003.
Although the board is confident that the second adjournment will be approved by
shareholders, should shareholders so wish, they can resubmit proxy forms for the
first adjourned meeting to the transfer secretaries, Computershare Investor
Services Limited, to be received by no later than 09:30 on Monday 24 March 2003.
As the resolutions to be considered have not been changed in any way,
shareholders may make use of copies of the proxy form included in the circular
sent to shareholders on Friday 14 February 2003, and must clearly mark such
copies as being for use at the first adjourned meeting. Alternatively,
shareholders may contact Tammy Holmes on +27 11 575 3415 to obtain faxed copies
of such proxy forms.
Johannesburg
20 March 2003
Corporate adviser
Questco Investments (Pty) Limited
Attorneys
Cliffe Dekker Inc
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Limited
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
