iProp Holdings Limited- Adjournment of general mee
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")
Confirmation of adjournment of the general meeting to Friday
4 April 2003
and receipt of revised offer
Shareholders are referred to the announcement published on SENS on Thursday 20
March 2003 concerning a second proposed adjournment of the general meeting,
which had been convened to consider an offer from Clidet No 433 (Pty) Limited, a
company owned and controlled by members of the executive management team of
iProp ("the management offer"). This adjournment was approved by shareholders
in order to afford the directors of the company an opportunity to clarify
certain matters relating to an offer from Rowan Tree 4 (Pty) Limited ("Rowan
Tree"), a wholly owned subsidiary of Mettle Limited, to acquire the businesses
of iProp, iProp Limited and Lerix Investments (Pty) Limited. No matter was
before the meeting when it was adjourned.
The general meeting ("the adjourned meeting") will now be held at The Grace In
Rosebank, 54 Bath Avenue, Rosebank, Johannesburg at 09:30 on Friday 4 April 2003
in order to consider and vote on the resolutions set out in the notice of
general meeting contained in the circular to shareholders dated 14 February 2003
concerning the management offer.
Shareholders are also advised that representatives of the board of the company
have now received a revised offer from Rowan Tree ("the revised Rowan Tree
offer"). The directors are evaluating the revised Rowan Tree offer and
shareholders will be advised as soon as possible of the directors"
recommendation as to how shareholders should vote at the adjourned meeting.
Documents relating to the revised Rowan Tree offer will be available for
inspection by shareholders from Thursday 27 March 2003 to Friday 4 April 2003.
Please contact Tammy Holmes on telephone +27 11 575 3415 to make an appointment
to view such documents.
Johannesburg
27 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
