MGX Holdings Limited -
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 CREDITORS" SCHEME
Shareholders and creditors of MGX are referred to the announcement dated 28
January 2004 in which shareholders and creditors of MGX were advised that the
High Court of South Africa (Witwatersrand Local Division) extended the report
back date for the MGX creditors" scheme until 10 February 2004, causing the
Company to extend the period for the fulfilment of the conditions precedent to
the scheme to 13 February 2004.
Shareholders and creditors are hereby advised that, on application by the
Company on 10 February 2004, the court granted a further extension for the
report back date of the scheme until Tuesday, 2 March 2004, or so soon
thereafter as counsel may be heard, to allow for the last remaining conditions
to the implementation of the Company"s debt refinancing to be fulfilled prior to
the court sanctioning the scheme. Due to this extension, the required court
sanctioning of the scheme and registration of the relevant court order is
expected to be completed by Friday, 5 March 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, 5 March 2004.
All scheme creditors are entitled to attend the court hearing for the
sanctioning of the scheme at 10:00 or as soon thereafter as Counsel may be heard
on Tuesday, 2 March 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. 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
MGX, as set out in the scheme.
11 February 2004
Sandton
Merchant bank and sponsor Debt Advisor Attorneys
SCMB CMS Webber Wentzel
(A division of The Standard
Bank of South Africa Limited)
(Registration number
1962/000738/06)
Date: 11/02/2004 04:41:02 PM Supplied by www.sharenet.co.za
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