| Fri 16 Apr 2004, 14:14 | | Results Of The General Meeting |
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Frontrange Limited - Results Of The General Meeting And Change In Roles Of
Release Date: 16/04/2004 13:32:14 Code(s): FRO
FRONTRANGE LIMITED - RESULTS OF THE GENERAL MEETING AND CHANGE IN ROLES OF
DIRECTORS
FrontRange Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/009928/06)
JSE Share code: FRO
ISIN: ZAE000035325
("FrontRange" or "the company")
RESULTS OF THE GENERAL MEETING AND CHANGE IN ROLES OF DIRECTORS
FrontRange shareholders are advised that the ordinary resolutions relating to
the specific grant of 21,162,905 share options to Michael McCloskey for cash
were passed by the requisite majority of FrontRange shareholders present or
represented by proxy at the general meeting, held today at the company"s
registered office.
Of the 155,195,909 FrontRange shares eligible to vote, 114,636,355 voted in
favour of the resolutions, 1,020,405 abstained from voting and 224,857 voted
against, meaning the resolutions were passed by 98.9% of shareholders
represented.
Further to the above, FrontRange shareholders are reminded that, in terms of the
specific grant for cash agreement, the initial 1,580,000 options granted to
Michael McCloskey through the share trust on 16 June 2003 will be cancelled with
effect from today.
Effective immediately, Michael McCloskey has become Chief Executive of
FrontRange Limited, as well as Chairman, President and Chief Executive of its
100%, US-based subsidiary, FrontRange Solutions, Inc. Dana Buys has resigned as
Chief Executive of FrontRange Limited to become its non-executive Chairman.
Christo Nel has resigned as non-executive Chairman but remains an independent
non-executive director.
Johannesburg
16 April 2004
Investment Bank And Sponsor:
Nedbank Capital
