QUYN - The Results Of The AGM And Withdrawal Of Ca
QUYN - The Results Of The AGM And Withdrawal Of Cautionary Announcement
Quyn Holdings Limited
(Registered in the Republic of South Africa)
(Registration number 1998/012245/06)
JSE Code: QUY ISIN: ZAE000017257
(`Quyn` of `the company`)
ANNOUNCEMENT TO SHAREHOLDERS REGARDING THE RESULTS OF THE AGM AND WITHDRAWAL OF
CAUTIONARY
- Adjourned Annual General Meeting
Shareholders are referred to previous announcements dated 21 October 2004 and 27
October 2004, regarding the adjournment of the company`s Annual General Meeting
(`the AGM`). The AGM was adjourned in order to allow the directors of the
company the opportunity to seek appropriate advice on certain matters raised at
the AGM.
The matters mainly relate to post balance sheet events and are dealt with
hereunder:
1. The establishment of a joint venture with a company owned by a director of
Quyn to acquire and develop vacant land.
2. The disposal of a subsidiary to a consortium including directors of that
subsidiary.
With regards to points 1. and 2. above, directors have been advised that a
shareholders` meeting needs to be convened in order to consider and vote on
these matters. Accordingly, the company`s advisors have been briefed regarding
the preparation of a circular to shareholders.
Shareholders are advised that directors have been led to believe that there is
the possibility of an offer by a consortium for shares in the company. It must
be stressed that at this point in time the directors have not received any
formal offer
- Results of annual general meeting
Shareholders are advised that all resolutions other than ordinary resolutions 1
(placing of all authorised but unissued securities under control of directors)
and 2
(general authority to issue shares for cash) in the notice were passed by the
requisite majorities.
- Withdrawal of cautionary
Shareholders are advised that, in view of the above disclosures they no longer
need to exercise caution in dealing in the company`s shares.
Illovo
12 November 2004
SPONSOR
LPC Manhattan Sponsors (Pty) Limited
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