AMB - RESULTS OF THE GENERAL MEETING OF SHAREHOLDE
AMB HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/003054/06)
Share Code: AMB
ISIN: ZAE000029682
("AMB" or "the Company")
RESULTS OF THE GENERAL MEETING OF SHAREHOLDERS OF AMB
A general meeting of the shareholders of AMB was held at 15:00 on Tuesday, 29
April 2003, to consider the resolutions relating to the specific repurchase by
AMB of:
* a maximum of 5 249 693 AMB shares currently held by employees of the Company
in terms of an Employee Loan Scheme ("Loan repurchase");
* a maximum of 4 040 740 AMB shares currently held by the AMB Holdings Limited
Share Incentive Trust ("Trust repurchase"); and
* 1 466 667 AMB shares currently held by Pamshop (Proprietary) Limited and
7 544 700 AMB shares currently held by Mount Sherman (Proprietary) Limited
("Pamodzi repurchase"),
(collectively referred to as "the repurchases").
All the resolutions necessary to approve and implement the repurchases were
passed by the requisite majority of shareholders of AMB. More specifically:
- the special resolution to approve the Loan repurchase was passed by a 98,54%
majority of AMB shareholders in terms of the Companies Act, No 61 of 1973, as
amended ("the Act") and by a 98,46% majority of AMB shareholders, excluding the
AMB employees who participated in the Employee Loan Scheme;
- the special resolution to approve the Trust repurchase was passed by a 99,72%
majority of AMB shareholders in terms of the Act, and by a 99,66% majority of
AMB shareholders, excluding the AMB Holdings Limited Share Incentive Trust; and
- the special resolution to approve the Pamodzi repurchase was passed by a
98,54% majority of AMB shareholders in terms of the Act, and by a 98,39%
majority of AMB shareholders, excluding Pamshop (Proprietary) Limited and Mount
Sherman Investments (Proprietary) Limited.
The special resolutions will be lodged with the Registrar of Companies for
registration on 30 April 2003. It is anticipated that the cancellation and
delisting of the AMB shares which are the subject of the Pamodzi repurchase will
be implemented by 12 May 2003.
Illovo
29 April 2003
Corporate adviser and joint Legal adviser
sponsor
AMB Advisory Services Limited Webber Wentzel Bowens
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