| Fri 27 Jun 2003, 17:51 | | Revised Dates And Times In Relation To The MGX Ent |
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MGX HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MGX ISIN:ZAE000009262
("MGX")
REVISED DATES AND TIMES IN RELATION TO THE MGX ENTERPRISE SOLUTIONS
(PROPRIETARY) LIMITED DISPOSAL
1. INTRODUCTION
On 16 June 2003, MGX announced that it and MGX Enterprise Solutions
(Proprietary) Limited ("Enterprise Solutions"), a wholly-owned subsidiary of
MGX, have entered into an agreement, subject to certain conditions precedent,
with Dreamteam Investments (Proprietary) Limited ("Dreamteam Investments"), for
the disposal by Enterprise Solutions of the Enterprise Solutions business, as a
going concern, to Dreamteam Investments ("the Enterprise Solutions disposal").
Due to delays with the finalising of the circular to MGX shareholders, the
general meeting of MGX shareholders in relation to the Enterprise Solutions
disposal has been postponed. This meeting was due to take place on
Monday, 30 June 2003.
2. REVISED DATES AND TIMES
The revised dates and times in relation to the Enterprise Solutions disposal are
expected to be as set out below.
2003
Last day to lodge forms of proxy for the
general meeting of MGX shareholders at 09:00, on Friday, 11 July
General meeting of shareholders at MGX House,
122 Milkyway Avenue, Linbro Business Park,
Linbro Park, Sandton, Johannesburg at 09:00, on Monday, 14 July
Results of the general meeting published
on SENS, on Monday, 14 July
Results of the general meeting published in
the press, on Tuesday, 15 July
Notes:
1. These dates and times are subject to amendment. Any such amendment will be
published on SENS and in the press.
2. If the date of the general meeting is adjourned or postponed, forms of proxy
must be received by the transfer secretaries of MGX, Computershare Investor
Services Limited, Ground Floor, 70 Marshall Street, Johannesburg, 2001, by no
later than 24 hours prior to the time of the adjourned or postponed general
meeting.
3. CONDITIONS PRECEDENT
The disposal is subject to the fulfilment of the passing of the ordinary
resolutions, necessary to effect the Enterprise Solutions disposal, by MGX
shareholders prior to 30 July 2003.
The MGX Banking Consortium and the Competition Commission have approved the
Enterprise Solutions disposal.
4. CIRCULAR
A circular containing full details of the Enterprise Solutions disposal and the
general meeting was posted to shareholders today.
27 June 2003
Sandton
Merchant bank and sponsor
SCMB
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Reporting accountants and auditors
Deloitte & Touche Chartered Accountants (SA)
Registered accountants and auditors
Independent adviser
Deloitte & Touche
Corporate Finance (Pty) Limited
(Registration number 1996/000034/07)
Attorneys
Webber Wentzel Bowens
