| Mon 6 Oct 2003, 17:08 | | MGX - REVISED DATES AND TIMES IN RELATION TO THE D |
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MGX - REVISED DATES AND TIMES IN RELATION TO THE DISPOSALS AND FURTHER
CAUTIONARY ANNOUNCEMENT
MGX HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
Share code: MGX ISIN:ZAE000009262
("MGX" or "the Company")
REVISED DATES AND TIMES IN RELATION TO THE DISPOSALS AND FURTHER CAUTIONARY
ANNOUNCEMENT
1. INTRODUCTION
On 22 August 2003, MGX announced that it had entered into agreements, subject
to certain conditions precedent, for the disposal by MGX of:
* the businesses of MGX Business Continuity Solutions (Proprietary) Limited and
MGX Business Continuity Solutions (Cape) (Proprietary) Limited;
* MGX"s 50% interest in Drive Control Holdings (Proprietary) Limited ("Drive
control");
* MGX"s shares and claims in and against MGX Storage Solutions (Proprietary)
Limited and MGX Storage Solutions Professional Services (Proprietary) Limited;
and
* MGX"s 95% interest in MGX Software Futures (Proprietary) Limited,
(collectively, "the disposals").
As there have been delays in finalising the financial information relating to
the above subsidiaries, the general meeting of MGX shareholders in relation to
the disposals, which was due to take place on Friday, 10 October 2003, has been
postponed.
2. REVISED DATES AND TIMES
The revised dates and times in relation to the disposals 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 Tuesday, 21 October
General meeting of shareholders at
MGX House, 122 Milkyway Avenue, Linbro
Business Park, Linbro Park, Sandton,
Johannesburg at 09:00, on Thursday, 23 October
Results of the general meeting
published on SENS, on Thursday, 23 October
Results of the general meeting
published in the press, on Friday, 24 October
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 secretary of MGX, Computershare Limited, Ground
Floor, 70 Marshall Street, Johannesburg, 2001, by no later than the 48 hours
prior to the time of the adjourned or postponed general meeting.
3. CIRCULAR
A circular containing full details of the disposals and the general meeting
was posted to shareholders on Friday, 3 October 2003.
4. FURTHER CAUTIONARY ANNOUNCEMENT
Further to the cautionary announcement dated 13 August 2003, shareholders are
advised that negotiations are still in progress which, if successfully
concluded, may have a material effect on the price of MGX"s shares.
Accordingly, shareholders are advised to continue exercising caution when
dealing in the Company"s shares until a further announcement
is made.
Sandton
6 October 2003
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 to MGX
Deloitte & Touche Chartered Accountants (SA)
Registered Accountants and Auditors
Independent advisers
Deloitte & Touche
Corporate Finance
Attorneys
WEBBER WENTZEL BOWENS
Reporting accountants and auditors to Drive Control
ANDERSONS
PUBLIC ACCOUNTANTS & AUDITORS
