iProp Holdings Limited - Adjournment of general me
iProp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/001239/06)
Share Code: IPR ISIN: ZAE000018867
("iProp" or "the company")
Confirmation of adjournment of the general meeting to Monday 26 May 2003 to
consider the improved management offer
Shareholders are referred to the announcement published on SENS on Monday 31
March 2003 concerning:
* the receipt of an improved offer from Clidet No 433 (Pty) Limited, a company
owned and controlled by members of the executive management team of iProp, to
acquire all the assets, excluding 7 million linked units in iFour Properties
Limited, and assume or settle all the liabilities of the iProp group ("the
improved management offer"); and
* the comparison of the improved management offer and the revised offer from
Rowan Tree 4 (Pty) Limited, a wholly owned subsidiary of Mettle Limited, to
acquire the businesses of iProp, iProp Limited and Lerix Investments (Pty)
Limited.
The board is of the opinion that iProp shareholders should be provided with full
details of the improved management offer by way of a circular setting out the
salient features of such offer and containing an amended notice of general
meeting. The board therefore recommended that shareholders vote for an
adjournment at the meeting convened to be held on Friday 4 April 2003 in order
to allow for the relevant documentation to be prepared and posted. Shareholders
approved this adjournment. No matter was before the meeting when it was
adjourned.
The general meeting will now be held at The Grace In Rosebank, 54 Bath Avenue,
Rosebank, Johannesburg at 09:30 on Monday 26 May 2003 in order to consider and
vote on the resolutions set out in the notice of general meeting which will be
contained in the circular to be sent to shareholders on or about 30 April 2003
concerning the improved management offer.
Johannesburg
7 April 2003
Corporate adviser
Questco Investments (Pty) Limited
Attorneys
Cliffe Dekker Inc
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Limited
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