| Wed 11 Jun 2003, 8:51 | | Announcement To Shareholders |
|
Hosken Consolidated Investments Limited -
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(ISIN : ZAE000003257 Share code: HCI)
("HCI")
ANNOUNCEMENT TO SHAREHOLDERS
1. Shareholders are advised that Consilium Capital SA (Pty) Ltd ("the
Applicant"), being a shareholder of the Company, has filed an application
("the Application") out of the High Court of South Africa (Witwatersrand
Local Division) seeking to interdict the Company from proceeding with the
general meeting of its shareholders to be held at 11h00 on Wednesday, 11
June 2003 ("the Subject Meeting"), seeking to interdict certain
shareholders of the Company from voting at any meeting of shareholders
convened to consider the resolutions proposed in the circular to
shareholders dated 26 May 2003 and further seeking certain ancillary
relief.
2. The Applicant, the Company and certain of the other parties against whom
relief is sought in terms of the Application have reached agreement in
relation to various issues pertaining to the Subject Meeting and the
Application, and such agreement is to be made an Order of Court ("the
Order").
3. Accordingly, the Subject Meeting will proceed as scheduled subject to the
terms of the Order, which are set out hereunder.
IN THE HIGH COURT OF SOUTH AFRICA
(WITWATERSRAND LOCAL DIVISION)
CASE NO 03/14278
In the matter between:
CONSILIUM CAPITAL (SA) (PTY) LTD Applicant
and
HOSKEN CONSOLIDATED INVESTMENTS LTD First Respondent
COPELYN, JOHN ANTHONY Second Respondent
GOLDING, MARCEL JOHN ANTHONY Third Respondent
MPHANDE, VELAPHI ELIAS NO
in his capacity as trustee of
The HCI employee Share Trust (2001) Fourth Respondent
KATZENELLENBOGEN, PETER NO
in his capacity as trustee of
The HCI Employee Share Trust (2001) Fifth Respondent
SECURITIES REGULATION PANEL Sixth Respondent
JSE SECURITIES EXCHANGE SOUTH AFRICA Seventh Respondent
CIRCUMFERENCE INVESTMENTS (PTY) LTD Eighth Respondent
SACTWU INVESTMENTS GROUP (PTY) LTD Ninth Respondent
THE SOUTHERN AFRICAN CLOTHING AND
TEXTILE WORKERS UNION Tenth Respondent
NCGOBO, JABULANI AND MODISE, FAITH NNO
in their capacity as joint trustees of the
SACTWU Educational Trust Eleventh Respondent
ORDER
1. The delisting meeting scheduled to take place on 11 June 2003 will proceed,
but should the proposed resolutions be passed these resolutions will not be
carried into effect pending determination of the application.
2. Notwithstanding the fact that the meeting will proceed, any voting and the
conduct of the applicant thereat is without prejudice to the applicant"s
assertions in the pending application.
3. The applicant is granted leave to file an amended notice of motion, if
necessary (to take into account the fact that the meeting will have
proceeded and the resolutions voted on) and will incorporate inter alia a
prayer for an order:
3.1 setting aside any resolutions passed at the meeting;
interdicting the carrying into effect of any resolutions passed at the
meeting,
together with a supplementary affidavit, if necessary, which will be
filed by no later than 13 June 2003.
4. The first respondent will, as soon as practicable after the meeting,
furnish the following information to the applicant, namely:
4.1 the name of each registered shareholder who/which exercised a vote;
4.2 the manner in which the vote was exercised;
4.3 the number of votes cast by each registered shareholder.
5. Subject to the aforegoing:
5.1 the first, second, third and eighth respondents will deliver their
answering affidavit/s on or before 20 June 2003;
5.2. the applicant will deliver its replying affidavit on or before 27 June
2003;
5.3. the application will be set down for hearing during the week
commencing 1 July 2003;
5.4. the costs of the application are to be reserved.
6. At the commencement of the meeting on 11 June 2003, the first
respondent will notify the meeting of the contents of this order and
copies will be made available to each of the shareholders who attend
the meeting. Shareholders will be advised that the offer will become
unconditional only upon the final determination of these proceedings.
7. A further announcement will be made to shareholders of the result of
the Delisting Meeting and changes to the salient dates if applicable.
BY THE COURT
Sandton
11 June 2003
INVESTMENT BANK & SPONSOR
Nedbank Corporate
Date: 11/06/2003 08:06:36 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
