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Aquila Growth Limited - Further Distribution Announcement
AQUILA GROWTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/003158/06)
Share code: AQL ISIN: ZAE000013959
(`Aquila` or `the company`)
* Further distribution in anticipation of the company`s voluntary liquidation
* Update on the liquidation process
1. Update and further liquidation distribution
Shareholders are referred to the announcements dated 28 July 2004 and 19
August 2004, detailing, inter alia, Aquila`s intention to proceed with the
orderly winding-up of the company`s affairs in anticipation of the voluntary
liquidation of the company (`the liquidation`).
Following the conclusion of the disposal of all Aquila`s remaining investments
and other outstanding matters, the directors have resolved to declare a further
dividend in cash in anticipation of the liquidation in the amount of R44
million, which equates to 35 cents per share (`the further liquidation
distribution`). This further dividend of 35 cents per share, which has been
declared and which will be distributed prior to the company being formally
placed in liquidation, will be distributed to shareholders out of the company`s
revenue reserves.
2. Salient dates and times
The salient dates and times pertaining to the further liquidation distribution
are as follows:
2004
Last day to trade in order to participate in the further
liquidation distribution on Thursday, 9 December
Aquila shares trade ex-further liquidation distribution
on Friday, 10 December
Record date to be eligible to participate in the further
liquidation distribution on Friday, 17 December
Electronic transfer of funds or cheques posted to
shareholders who have not dematerialised their shares
on Monday, 20 December
Dematerialised shareholders` accounts held at their
Central Securities Depository Participant or broker
credited on Monday, 20 December
Note:
Share certificates may not be dematerialised or rematerialised between Friday,
10 December 2004 and Friday, 17 December 2004, both days inclusive.
3. The liquidation
Following the declaration of the further liquidation distribution, the directors
intend:
* publishing interim results for the six months ended 31 August 2004 on or
before Tuesday, 30 November 2004;
* registering the liquidation resolution, approved by the Aquila shareholders
at the general meeting held on 19 August 2004, with the Registrar of Companies
in terms of section 200 of the Companies Act, 1973 (Act 61 of 1973), as amended,
on or before 27 January 2005;
* proceeding with the appointment by the Master of the High Court of South
Africa of the liquidator nominated in terms of the abovementioned resolution on
or before 27 January 2005; and
* notifying Aquila shareholders of the proposed suspension of the company`s
listing on the JSE Securities Exchange South Africa until such time as the
liquidation is complete.
Johannesburg
24 November 2004
Corporate advisor and sponsor
BRIDGE CAPITAL
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