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SALLIES LIMITED - RESULTS OF ANNUAL GENERAL MEETING
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL
ISIN: ZAE000022588
("Sallies" or "the company")
RESULTS OF ANNUAL GENERAL MEETING
Ernst & Young Sponsors (Proprietary) Limited is authorised to announce that at
the annual general meeting of shareholders held at 12:00 on Wednesday, 10
December 2003 the requisite majority of shareholders approved the special and
ordinary resolutions as contained in the notice convening that annual general
meeting which relate, inter-alia, to:
* the appointment of directors and the fees payable to directors;
* the amendment of the Sallies share incentive scheme to allow for one
participant to be granted options up to 1,5% of the issued share capital;
* the ratification of the agreement entered into with FRM Strategies
(Proprietary) Limited ("FRM") and the approval of the issue of share options
thereto;
* the ratification of the agreement entered into with RMB Resources Limited
and the approval of the issue of 2 million share options to Rand Merchant Bank
Limited in consideration for RMB Australia Holdings Limited agreeing, inter-
alia, to the deferral of the balance of the outstanding loan repayments;
* the amendment of the articles of association to allow Sallies to repurchase
shares and make payments to shareholders from capital;
* the placing of the unissued shares under the control of the directors;
* authorising the directors to issue shares for cash;
* authorising the proposed rights offer;
* the repurchase by Sallies of its own shares;
* the purchase by a subsidiary of the company"s shares; and
* authorising the directors to sign the appropriate documentation in respect
of the above matters.
The special resolutions will be lodged for registration with the Registrar of
Companies as required in terms of the Companies Act (Act No 61 of 1973, as
amended).
Shareholders will be informed of the salient dates applicable to the rights
offer and the finalisation data relating thereto on or about Monday, 15 December
2003.
Johannesburg
10 December 2003
Sponsor
Ernst & Young Sponsors (Pty) Ltd
Incorporated in the Republic of South Africa
(Registration number 2000/031843/07)
Date: 10/12/2003 04:08:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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