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KERSAF/ SISA - RESULTS OF THE SISA SCHEME MEETING
Kersaf Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1967/007528/06)
JSE Share code: KER
ISIN: ZAE000003844
(`Kersaf`)
Sun International
(SOUTH AFRICA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1977/071333/06)
JSE Share code: SIS
ISIN: ZAE000010104
(`SISA`)
RESULTS OF THE SISA SCHEME MEETING
1. RESULTS OF THE SISA SCHEME MEETING
Further to the announcement published on the Securities Exchange News
Service (`SENS`) of the JSE Securities Exchange South Africa on Wednesday,
12 May 2004 and in the press on Thursday, 13 May 2004, SISA shareholders
are advised that the scheme of arrangement (`the scheme`) in terms of
section 311 of the Companies Act, 1973, as amended, proposed by Kersaf
between SISA and its shareholders other than Kersaf and its subsidiaries
(`the SISA minority shareholders`) has been approved by 99,7% of the votes
exercised by SISA`s minority shareholders at the SISA scheme meeting held
on Tuesday, 8 June 2004.
Application will be made to the High Court of South Africa (Witwatersrand
Local Division) (`the Court`) on Tuesday, 22 June 2004 at 10:00 or as soon
thereafter as Counsel may be heard for the sanctioning of the scheme. The
Court is located in the High Court Building, von Brandis Square, corner
Pritchard and von Brandis Streets, Johannesburg.
2. CONDITIONS PRECEDENT
The scheme is still subject to the approval by the relevant provincial
gaming licensing authorities.
If the Court sanctions the scheme and once the approval of the gaming
licensing authorities has been obtained, the only remaining condition
precedent will be the registration by the Registrar of Companies of the
Order of Court sanctioning the scheme.
3. CHAIRMAN`S REPORT
Copies of the Chairman`s report on the SISA scheme meeting will be
available on request from Monday, 14 June 2004 during normal business hours
from the registered office of SISA, 4th Floor, 27 Fredman Drive, Sandown,
Sandton or from the office of the transfer secretaries, Computershare
Investor Services 2004 (Pty) Ltd, Ground Floor, 70 Marshall Street,
Johannesburg.
4. FURTHER ANNOUNCEMENT
A further announcement regarding the status of the gaming licensing
authorities` approval of the scheme, the outcome of the application to the
Court, final salient dates and times of the scheme and details of the
election and surrender procedures for SISA minority shareholders, will be
made to shareholders in due course.
Sandton
8 June 2004
Merchant bank to Kersaf
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Independent advisor to SISA board of directors
NEDBANK CAPITAL
Corporate law advisors to SISA
Edward Nathan & Friedland (Pty) Ltd
Corporate Law advisers & Consultants
(Registration number 1999/026464/07)
Sponsor to Kersaf
Investec Bank Limited
(Registration number 1969/004763/06)
Sponsor to SISA
NEDBANK CAPITAL
Attorneys to Kersaf
Hofmeyr Herbstein Gihwala Inc.
(Registration number 1997/001523/21)
Transactional sponsor
Investec Bank Limited
(Registration number 1969/004763/06)
Reporting accountants and auditors to Kersaf and SISA
PricewaterhouseCoopers Inc.
Chartered Accountants (SA)
Registered Accountants & Auditors
(Registration no. 1998/012055/21)
Attorneys to the scheme
Knowles Husain Lindsay Inc Attorneys
(Registration number 2000/000004/21)
Date: 08/06/2004 05:07:04 PM Produced by the JSE SENS Department
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