Postponement Of The Sanctioning Of The MGX Credito
MGX - Postponement Of The Sanctioning Of The MGX Creditor"s Scheme
MGX Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1983/012697/06)
("MGX" or "the Company")
Code: MGX
ISIN: ZAE000009262
POSTPONEMENT OF THE SANCTIONING OF THE MGX CREDITOR"S SCHEME
Shareholders and creditors of MGX are referred to the announcement dated 20
January 2004, relating to the results of the general meeting and scheme meeting
of the shareholders of MGX and the scheme creditors, respectively, in which
shareholders were advised that the scheme was subject to the sanctioning by the
court and a certified copy of such order of court being lodged with and
registered by the Registrar of Companies. Such sanctioning and lodgement was
expected to be completed by Thursday, 29 January 2004.
Shareholders and creditors are hereby advised that on application by the Company
on 27 January 2004, the Court extended the report back date of the scheme
meeting until Tuesday, 10 February 2004, or so soon thereafter as counsel may be
heard, to allow for the implementation of the debt restructure of the Company to
become unconditional prior to the Court sanctioning the scheme.Due to this
extension, the required sanctioning of the scheme and registration of the
relevant court order is expected to be completed by Friday, 13 February 2004.
MGX hereby gives formal notice pursuant to Chapter 3 of the Scheme that the
period for the fulfilment of the conditions precedent to the scheme is thus
extended to Friday, 13 February 2004.
All scheme creditors are still entitled to attend the court hearing for the
sanction of the scheme at 10:00 or as soon thereafter as Counsel may be heard on
Tuesday, 10 February 2004, in the High Court of South Africa (Witwatersrand
Local Division), which is located in the High Court Building, von Brandis
Square, corner Pritchard and von Brandis Streets, Johannesburg, and a copy of
the report of the chairman of the scheme meeting will continue to be available
for inspection by scheme creditors during normal business hours at the
registered office of the Company, as set out in the scheme.
28 January 2004
Sandton
Merchant bank and sponsor Attorneys
(A division of The Standard Webber Wentzel Bowens
Bank of South Africa Limited)
(Registration number
1962/000738/06)
Date: 28/01/2004 07:56:02 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
