Comair Limited - Results of Annual General Meeting
Comair Limited
(Incorporated in the Republic of South Africa)
(Registration number 1967/006783/06)
("Comair" or "the Company")
JSE Share code: COM ISIN number: ZAE000029823
Results of Annual General Meeting
Shareholders are advised that, at the annual general meeting of Comair held in
Johannesburg today, the resolutions relating to the general authorities to place
unissued shares under the control of the directors and to issue shares for cash
were withdrawn to enhance Corporate Governance by permitting shareholders to
specifically approve any issue of shares should such eventuality arise.
The remaining business of the annual general meeting was conducted as per the
notice of the annual general meeting dated 20 August 2003 with the resolutions
being passed by the requisite majority of shareholders.
Update given to shareholders
At the annual general meeting, a brief overview on trading conditions was
provided. The presentation, which included a review of passenger numbers for the
2003 calendar year, analysis of historic trend of revenue vs expenses and a
fleet plan, is available for review on Comair"s website at www.comair.co.za.
Shareholders" attention is drawn to the following facts, which may be of
interest:
- Pressure is still being felt on all players from the over-capacity in the
market;
- The impact of increased passenger numbers is balanced out by the strengthening
of the Rand;
- There is a lag of around 3 - 4 months before the benefits of the strengthened
Rand are felt; and
- Rand-related costs for 2004 are expected to increase in line with the rate of
inflation.
Appointment of director
In accordance with section 3.59 of the Listings Requirements of the JSE
Securities Exchange SA, shareholders are advised that Khutso Mampule has been
appointed as a non-executive director of Comair with effect from 1 November
2003.
Johannesburg
27 October 2003
Sponsor
Nedbank Corporate
Date: 27/10/2003 04:56:30 PM Produced by the JSE SENS Department
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